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

OIL TECHS
OIL TECHS: ICE BRENT: (N18) Bulls Focused On $78.91-81.61
*RES 4: $87.94 - High Oct 29 2014 (Cont) 
*RES 3: $84.97 - High Nov 10 2014 (Cont) 
*RES 2: $81.61 - High Nov 21 2014 (Cont) 
*RES 1: $78.91 - Daily Bull channel top
*PRICE: $77.72 @ 0430GMT
*SUP 1: $76.45 - Hourly support May 9 
*SUP 2: $75.50 - Hourly support May 8 
*SUP 3: $74.87 - Hourly resistance May 8 now support 
*SUP 4: $73.71 - 21-DMA
*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 $78.91-81.61 last seen in late 2014. The Bollinger
band top ($77.23) is the key concern for bulls. Bears now need a close below
$76.45 to gain breathing room and below $72.20 to shift initial focus to the
$69.92 support.

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