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

OIL TECHS
OIL TECHS: ICE BRENT: (N18) Bulls Focused On $79.22-81.61
*RES 4: $84.97 - High Nov 10 2014 (Cont) 
*RES 3: $81.61 - High Nov 21 2014 (Cont) 
*RES 2: $79.22 - Daily Bull channel top 
*RES 1: $78.00 - 2018 High May 10
*PRICE: $77.25 @ 0350GMT
*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: $73.98 - 21-DMA
*COMMENTARY: Bulls took comfort in support emerging ahead of the 21-DMA that has
resulted in fresh 2018 & 3+yr highs. Bulls currently remain focused on
$79.22-81.61 last seen in late 2014. The Bollinger band top ($77.60) is the key
concern for bulls and limits follow through. 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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