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BRENT TECHS: (N20): Approaching The 20-Day EMA.......>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (N20): Approaching The 20-Day EMA
*RES 4: $31.12 - 61.8% retracement of the Apr 9 - 22 sell-off
*RES 3: $30.18 - High Apr 21
*RES 2: $28.57 - 20-day EMA
*RES 1: $27.88 - Intraday high
*PRICE: $26.74 @ 07:00 BST May 1
*SUP 1: $24.41 - Low Apr 30
*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 again yesterday and has extended 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. Furthermore, yesterday's
break of $26.98, Apr 23 high reinforces the current recovery. The focus is on
gains towards the 20-day EMA at $28.57. A clear break would open $30.18, the Apr
21 high. Initial support is at $24.41, yesterday's low.

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