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BRENT TECHS: (N19): Reversing From Fresh Highs.......>

BRENT TECHS: (N19): Reversing From Fresh Highs
*RES 4: $77.90 - Trendline resistance 
*RES 3: $76.35 - 76.4% retracement 
*RES 2: $74.75 - High Apr 25 
*RES 1: $73.40 - High May 16 
*PRICE: $72.22 @ 05:13 GMT May 21 
*SUP 1: $71.60/67 - Low May 20/21-dma 
*SUP 2: $69.64 - 55-dma 
*SUP 3: $68.79/74 - Low May 6/200-dma 
*SUP 4: $68.21 - High March 21 
Brent futures posted new recovery highs yesterday in early Asian trading before
giving back gains to shift the near term outlook negative. Bears look for a
close below the 21-dma and yesterday's low at $71.67/60 to open the 55-dma at
$69.64. Below here would shift the outlook bearish and open the May 6
low/200-dma at $68.79/74. Bulls look to take out yesterday's high at $73.40 to
extend the recovery towards the April 25 high.

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