BRENT TECHS: (Q20): Trendline Support Intact *RES....>

BRENT TECHS: (Q20): Trendline Support Intact

*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: $35.64 @ 06:35 BST May 29

*SUP 1: $34.63 - 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 are consolidating. 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 $34.63 today. A break of $33.94 would be bearish.