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ICE BRENT(X19): $62.40 pivotal today .....>

OIL TECHS
MNI (London)
OIL TECHS: ICE BRENT(X19): $62.40 pivotal today 
*RES 4: $64.94 - High Jul 31
*RES 3: $64.05 - High Aug 1
*RES 2: $62.68 - Potential bull channel top drawn off the Aug 7 low
*RES 1: $62.40 - High Sep 5 and pivotal resistance
*PRICE: $61.00 @ 06:21 BST Sep 6
*SUP 1: $60.25 - Low Sep 5
*SUP 2: $58.13 - Low Sep 4
*SUP 3: $57.23 - Low Sep 3 and key S/T support
*SUP 4: $55.59 - Low Aug 7 and key bear trigger
Brent gains yesterday did result in a breach of trendline resistance at $61.30
drawn off the Jul 11 high. This is a bullish development however, a bearish
price candle pattern did develop yesterday too in the shape of a shooting star.
This highlights the importance of yesterday's  $62.40 high as a key resistance.
A break would see bulls maintain the upper hand. A failure however and a
subsequent move lower would refocus attention on support at $57.23.

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