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BRENT TECHS: (Q20): Holding Above Trendline Support
*RES 4: $40.00 - Psychological round number
*RES 3: $39.77 - High Apr 2 and key resistance
*RES 2: $38.85 - High Apr 4
*RES 1: $37.24 - High May 26 and bull trigger
*PRICE: $34.85 @ 06:46 BST May 28
*SUP 1: $34.18 - Trendline support drawn off the Apr 22 low
*SUP 2: $33.94 - Low May 22 and key support
*SUP 3: $33.22 - High May 6 and former breakout level
*SUP 4: $31.43 - Low May 15
Brent futures traded lower Wednesday. A bullish outlook is maintained with
Tuesday's high print of $37.24 reinforcing the underlying positive outlook. The
move signals a resumption of the current uptrend and shifts attention to $38.85,
Apr 9 high and $39.77, Apr 2 high. The latter is a key resistance. Key
short-term support has been defined at $33.94, May 22 low with trendline support
drawn off the Apr 22 low at $34.18 today. A break of $33.94 would be bearish.