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BRENT TECHS: (N20): Focus Is On The 20-Day EMA.......>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (N20): Focus Is On 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: $28.19 - 20-day EMA
*RES 1: $27.88 - High May 1
*PRICE: $26.16 @ 06:40 BST May 4
*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 traded higher last week although the contract did stall at $27.88 on
Friday. The technical picture remains positive for now and a short-term bullish
theme was reinforced late last week following the break of $26.98, Apr 23 high.
The focus is on gains towards the 20-day EMA at $28.19. A clear break would open
$30.18, the Apr 21 high. Initial support is at $24.41, the Apr 30 low.

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