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ICE BRENT: (Q18) O/B Daily Studies A......>

OIL TECHS
OIL TECHS: ICE BRENT: (Q18) O/B Daily Studies A Concern
*RES 4: $81.61 - High Nov 21 2014 (Cont) 
*RES 3: $81.41 - Daily Bull channel top 
*RES 2: $80.42 - High May 17 
*RES 1: $79.80 - High May 18
*PRICE: $79.41 @ 0430GMT
*SUP 1: $78.13 - Low May 21 
*SUP 2: $77.55 - Low May 16 
*SUP 3: $76.27 - Daily Bull channel base off Apr 9 low 
*SUP 4: $75.84 - 21-DMA
*COMMENTARY: The lack of topside follow through on Thursday's high was less then
ideal for bulls. Bears now look for a close below $77.55 to hint at a correction
back to $75.84-76.27 where the bull channel base and 21-DMA are located. Below
the 21-DMA is needed to shift focus back to $71.65. Correcting O/B studies
remain a concern for bulls who now need a close above $80.42 to reconfirm focus
on the bull channel top.

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