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BRENT TECHS: (N20): Approaching $26.98 Key Resistance
*RES 4: $30.18 - High Apr 21
*RES 3: $28.57 - 20-day EMA
*RES 2: $26.98 - High Apr 23 and key resistance
*RES 1: $26.66 - Intraday high
*PRICE: $26.22 @ 06:36 BST Apr 30
*SUP 1: $24.41 - Intraday low
*SUP 2: $22.73 - Low Apr 29
*SUP 3: $21.92 - Low Apr 28 and key support
*SUP 4: $21.64 - 76.4% retracement of the Apr 22 - 23 rally
Brent was firmer yesterday and has extended short-term gains so far today. The
technical picture has improved and a short-term bullish theme reinforced
following the recovery off Tuesday's low of $21.92. Note that Tuesday's candle
pattern was a doji reversal pattern, further highlighting a positive outlook for
now. The focus is on $26.98, Apr 23 high where a break would signal scope for
gains towards the 20-day EMA at $28.57. Initial support is at $24.41.