BRENT TECHS: (Q20): Still Pushing Higher *RES 4:.....>

BRENT TECHS: (Q20): Still Pushing Higher

*RES 4: $48.53 - Mar 2 low

*RES 3: $45.98 - Low Mar 6 and gap high on the daily chart

*RES 2: $45.20 - 50.0% retracement of the Jan - Apr sell-off

*RES 1: $43.41 - Intraday high

*PRICE: $43.07 @ 06:35 BST Jun 8

*SUP 1: $39.72 - Low Jun 5

*SUP 2: $38.76 - Low Jun 3

*SUP 3: $37.34 - Trendline support drawn off the Apr 22 low

*SUP 4: $33.94 - Low May 22 and key support

Brent futures maintain a bullish tone. Price last week traded above resistance

at $39.77, Apr 2 high and the psychological $40.00 level. This reinforces

underlying bullish conditions. Furthermore, futures have also traded above

$41.89, Mar 11 high and a gap low on the daily chart. This opens 445.20 next, a

Fibonacci retracement. Trendline support drawn off the Apr 22 low remains intact

and intersects at $37.34.