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BRENT TECHS: (Q20): Bull Trend Tests $40.00 *RES.....>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (Q20): Bull Trend Tests $40.00
*RES 4: $45.98 - Low Mar 6 and gap high on the daily chart
*RES 3: $45.20 - 50.0% retracement of the Jan - Apr sell-off
*RES 2: $41.89 - Mar 11 high and Gap low on the daily chart
*RES 1: $40.42 - Intraday high
*PRICE: $40.15 @ 06:43 BST Jun 3
*SUP 1: $37.24 - High May 26
*SUP 2: $35.99 - Trendline support drawn off the Apr 22 low
*SUP 3: $33.94 - Low May 22 and key support
*SUP 4: $33.22 - High May 6 and former breakout level
Brent futures continue to push higher having started the week on a firm note.
Price has overnight traded above resistance at $39.77, Apr 2 high and the
psychological $40.00 level. This reinforces underlying bullish conditions and
attention shifts to $41.89, Mar 11 high and a gap low on the daily chart.
Trendline support drawn off the Apr 22 low remains intact reinforcing bullish
conditions. The trendline intersects at $35.99 and is an important support.

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