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

OIL TECHS
OIL TECHS: ICE BRENT: (M18) $70.40 Support Remains Key
*RES 4: $74.39 - Daily Bull channel top 
*RES 3: $73.41 - High Nov 28 2014 (Cont) 
*RES 2: $73.11 - 2018 High Apr 11 
*RES 1: $72.23 - Hourly resistance Apr 16
*PRICE: $71.69 @ 0430GMT
*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: Topside hesitation is less than ideal for bulls who are initially
focused on $73.41-74.24 where the bull channel top is situated. The Bollinger
top ($72.96) and modestly O/B studies are seen as concerns for bulls. In saying
that, initial support is noted at $71.10 but bears continue to look for a close
below $70.40 to shift focus back to $68.80-69.33 with the 21-DMA noted at
$69.33.

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