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BRENT TECHS: (N20): Bulls Still Pausing For Breath
*RES 4: $34.27 - High Apr 15
*RES 3: $33.62/75 - 50-day EMA / 76.4% retracement of the Apr 9 - 22 sell-off
*RES 2: $32.27 - High May 6 and bull trigger
*RES 1: $31.47 - High May 11
*PRICE: $29.39 @ 06:37 BST May 14
*SUP 1: $28.66 - Low May 6
*SUP 2: $27.77 - Low May 5 and key intraday support
*SUP 3: $25.50 - Low May 4
*SUP 4: $24.41 - Low Apr 30
Brent futures are unchanged and continue to consolidate below key resistance at
$32.27, May 6 high. Recent price action is viewed as a pause in the uptrend.
Recently futures cleared the 20-day EMA, reinforcing the bullish cycle. This
also follows a break of $26.98, Apr 23 high that confirmed a S/T reversal.
Attention is on $33.75, 76.4% of the Apr 9 - 22 decline and the 50-day EMA that
today intersects at $33.62. The average is a key resistance. $27.77 is support.

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