BRENT TECHS: (N20): Stalls At $32.27 For Now *RES....>

BRENT TECHS: (N20): Stalls At $32.27 For Now

*RES 4: $35.60 - High Apr 14

*RES 3: $34.26/27 - 50-day EMA / High Apr 15

*RES 2: $33.75 - 76.4% retracement of the Apr 9 - 22 sell-off

*RES 1: $32.27 - High May 6

*PRICE: $29.87 @ 06:39 BST May 8

*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 have for now stalled at $32.27, Wednesday's high. Despite the

recent pullback, a bullish theme remains in place for now. Futures have recently

cleared the 20-day EMA reinforcing a bullish cycle. This follows the recent

break of $26.98, Apr 23 high that confirmed a short-term reversal. Attention is

on $33.75, 76.4% of the Apr 9 - 22 decline and $34.26, the 50-day EMA. The

average is a key resistance area. Initial firm support is at $27.77.