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BRENT TECHS: (V18) Bears Get Some Respite *RES 4:....>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (V18) Bears Get Some Respite
*RES 4: $80.00 - Resistance 
*RES 3: $79.59 - High May 22 
*RES 2: $79.25 - High July 10 
*RES 1: $78.87 - Bear channel top 
*PRICE: $75.99 @ 03:56 GMT 
*SUP 1: $74.42 - 55-dma 
*SUP 2: $73.43 - 21-dma 
*SUP 3: $70.30 - Low August 15 
*SUP 4: $69.64 - Low April 18 
The failure to break above $77 yesterday resulted in a modest selloff that gives
bears some cause for cheer even though the broader uptrend remains intact above
the 55-dma at $74.42. Bulls continue to focus on channel resistance at $78.87, a
break of which would suggest another leg higher. Bears need to break back below
the 55-dma to take some pressure off and the 21-dma to shift the focus lower
once again and target the August 15 low at $70.30. 

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