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BRENT TECHS: (N19): Monday Highs in Crosshairs.......>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (N19): Monday Highs in Crosshairs
*RES 4: $77.10 - Trendline resistance
*RES 3: $76.35 - 76.4% retracement
*RES 2: $74.75 - High Apr 25
*RES 1: $72.58/79 - High May 13/April 30
*PRICE: $72.08 @ 06:46 BST May 16
*SUP 1: $69.63/69.12 - 55-dma/200-dma
*SUP 2: $68.79 - Low May 6
*SUP 3: $68.21 - High March 21
*SUP 4: $65.90 - 200-DMA
Brent futures have edged above the 21-dma, helping tilt the near term outlook
higher. Bulls look to recover the Monday high and Apr30 high at 72.58/79. Above
here would put the focus back on the ytd high at $74.75. A downside break below
the 55-dma/200-dma at $69.63/69.12 is needed to suggest a reversal to the March
21 high at $68.21.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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