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ICE BRENT: (N18) Bears Need Close Below...>

OIL TECHS
OIL TECHS: ICE BRENT: (N18) Bears Need Close Below $72.20
*RES 4: $77.30 - Low Nov 26 2014 (Cont) now resistance 
*RES 3: $74.97 - Daily Bull channel top 
*RES 2: $74.65 - High Apr 24 
*RES 1: $74.16 - High Apr 26
*PRICE: $73.60 @ 0350GMT
*SUP 1: $72.20 - Low Apr 20 
*SUP 2: $71.16 - Hourly resistance Apr 17 now support 
*SUP 3: $70.86 - 21-DMA 
*SUP 4: $69.92 - Low Mar 11
*COMMENTARY: Continued hesitation ahead of the bull channel top and $74.65 is a
concern for bulls when combined with correcting O/B studies & momentum
divergence is a concern for bulls. In saying that, bears continue to look for a
close below $72.20 to ease bullish pressure and initially target $69.92-70.60
where the 21-DMA is situated. Above the bull channel top is needed to target
$77.30 last seen in Nov 2014.

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