BRENT TECHS: (N20): Consolidating But Remains........>

BRENT TECHS: (N20): Consolidating But Remains Bullish

*RES 4: $33.80/34.27 - 50-day EMA / High Apr 15

*RES 3: $33.75 - 76.4% retracement of the Apr 9 - 22 sell-off

*RES 2: $31.84 - High May 7

*RES 1: $32.27 - High May 6 and bull trigger

*PRICE: $29.53 @ 06:55 BST May 13

*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 $32.27, May 6

high. Recent price action is viewed as a pause in the uptrend. The recent climb

resulted in a breach of 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 $33.80, the 50-day EMA. The

average is a key resistance area. Firm support is at $27.77.