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ICE BRENT: (M18) $70.40 Support Key.......>

OIL TECHS
OIL TECHS: ICE BRENT: (M18) $70.40 Support Key
*RES 4: $77.30 - Low Nov 26 2014 (Cont) now resistance 
*RES 3: $74.24 - Daily Bull channel top 
*RES 2: $73.41 - High Nov 28 2014 (Cont) 
*RES 1: $73.11 - 2018 High Apr 11
*PRICE: $71.79 @ 0350GMT
*SUP 1: $71.10 - Low Apr 12 
*SUP 2: $70.40 - High Mar 26 now support 
*SUP 3: $69.66 - Hourly resistance Apr 10 now support 
*SUP 4: $68.80 - High Apr 9 now support
*COMMENTARY: The recovery form dips back towards the 55-DMA resulted in fresh
2018 & 3+yr highs with bulls now initially focused on $73.41-74.24 where the
bull channel top is. Overall focus is now on $77.30. The Bollinger top ($72.55)
is the key concern for bulls. Initial support is noted at $71.10 but bears
continue to look for a close below $70.40 to shift focus back to $66.26-68.80
with the 21-DMA noted at $68.72.

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