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ICE BRENT: (Q18) Support Emerging On......>

OIL TECHS
OIL TECHS: ICE BRENT: (Q18) Support Emerging On Dips
*RES 4: $82.07 - Daily Bull channel top 
*RES 3: $81.61 - High Nov 21 2014 (Cont) 
*RES 2: $80.50 - High May 22 
*RES 1: $79.88 - High May 23
*PRICE: $79.58 @ 0430GMT
*SUP 1: $78.13 - Low May 21 
*SUP 2: $77.55 - Low May 16 
*SUP 3: $76.93 - Daily Bull channel base off Apr 9 low 
*SUP 4: $76.53 - 21-DMA
*COMMENTARY: The lack of topside follow through on Tuesday's high was less than
ideal for bulls but the bounce Wednesday ensures bullish focus remains on
$81.61-82.07 where the bull channel top is noted. Bears now need a close below
$78.13 to gain breathing room and below $75.84 to confirm a break of the 21-DMA
and bull channel base and then targeting $71.43-65 where the 55-DMA is found.

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