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ICE BRENT: (N18) Bulls Focused On.........>

OIL TECHS
OIL TECHS: ICE BRENT: (N18) Bulls Focused On $77.30-81.61
*RES 4: $84.97 - High Nov 10 2014 (Cont) 
*RES 3: $81.61 - High Nov 21 2014 (Cont) 
*RES 2: $78.59 - Daily Bull channel top 
*RES 1: $77.30 - Low Nov 26 2014 (Cont) now resistance
*PRICE: $76.61 @ 0430GMT
*SUP 1: $75.50 - Hourly support May 8 
*SUP 2: $74.87 - Hourly resistance May 8 now support 
*SUP 3: $73.39 - 21-DMA 
*SUP 4: $73.10 - Low May 8
*COMMENTARY: Despite O/B daily studies weighing bulls take comfort in support
emerging ahead of the 21-DMA that has resulted in fresh 2018 & 3+yr highs. Bulls
currently remain focused on $77.30-81.61 last seen in late 2014. The Bollinger
band top ($76.40) is the key concern for bulls. Bears now need a close below
$74.87 to gain breathing room and below $72.20 to shift initial focus to the
$69.92 support.

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