BRENT TECHS: (N20): Bullish Outlook Holds *RES 4:....>

BRENT TECHS: (N20): Bullish Outlook Holds

*RES 4: $38.31 - High Apr 2 and key resistance

*RES 3: $38.00 - High Apr 9

*RES 2: $36.50 - High Apr 13

*RES 1: $35.76 - High May 19 and bull trigger

*PRICE: $35.03 @ 06:41 BST May 20

*SUP 1: $32.27 - High May 6 and former breakout level

*SUP 2: $30.94 - Low May 15

*SUP 3: $28.66 - Low May 6

*SUP 4: $27.77 - Low May 5 and key intraday support

Brent futures maintain a bullish stance having started the week on a firm note.

Price action has cleared former resistance at $32.27 and also the 50-day EMA at

$33.54 reinforcing underlying bullish conditions. The ability to continue

holding above the EMA would pave the way for a move towards $38.00, Apr 9 high

and $38.31, Apr 2 high. A breach of the latter resistance would represent an

important technical break. $32.27 marks first support.