ICE BRENT(V19): Bearish pressure likely...>

OIL TECHS: ICE BRENT(V19): Bearish pressure likely near-term

*RES 4: $62.93/95 - Trendline resistance drawn off the Jul 11 high / High Aug 2

*RES 3: $61.68/78- 50-day EMA / 61.8% retracement of the Jul 31

*RES 2: $61.41/50 - High Aug 21 / High Aug 13 and key resistance

*RES 1: $60.29 - High Aug 23

*PRICE: $59.00 @ 05:57 BST Aug 27

*SUP 1: $58.24 - Low Aug 26

*SUP 2: $57.67 - Low Aug 15 and key intraday support

*SUP 3: $57.11 - Low Aug 9

*SUP 4: $55.88 - Low Aug 7 and key bear trigger

Brent is likely to remain under pressure. Last weeks sell-off from Wednesday's

high, followed a number of recent bearish set-ups that warned of an end to the

recent corrective recovery. These were a bearish shooting star (inverted hammer)

candle last Wednesday, and the failure to clear $61.50.The focus is on $57.67,

the Aug 15 low where a break would open $55.88. Gains above $61.50 are required

to negate the bearish patterns and reinstate the recent recovery.