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ICE BRENT: (Q18) Above $77.95 To Shift....>

OIL TECHS
OIL TECHS: ICE BRENT: (Q18) Above $77.95 To Shift Focus Higher
*RES 4: $79.18 - High May 31 
*RES 3: $77.95 - High June 1 
*RES 2: $76.57 - Hourly resistance June 4a 
*RES 1: $75.89 - Hourly resistance June 4
*PRICE: $75.41 @ 0430GMT
*SUP 1: $74.75 - Alternating hourly support/resistance 
*SUP 2: $73.31 - 55-DMA 
*SUP 3: $71.65 - Low Apr 20 
*SUP 4: $69.68 - 100-DMA
*COMMENTARY: O/S daily studies appear to be impacting with support emerging
ahead of the 55-DMA Tuesday and the contract bouncing back to the $75.89-77.95
resistance region. Bulls look for a close above $77.95 gain breathing room and
return pressure to layers of resistance $79.18-80.50 where 2018 highs are
situated. Bears now look for a close below the 55-DMA to reconfirm a bearish
bias and initially focus on the 100-DMA.

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