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ICE BRENT: (Q18) Topside Follow Through...>

OIL TECHS
OIL TECHS: ICE BRENT: (Q18) Topside Follow Through Lacking
*RES 4: $81.74 - Daily Bull channel top 
*RES 3: $81.61 - High Nov 21 2014 (Cont) 
*RES 2: $80.50 - High May 22 
*RES 1: $79.83 - Hourly resistance May 22
*PRICE: $78.99 @ 0430GMT
*SUP 1: $78.13 - Low May 21 
*SUP 2: $77.55 - Low May 16 
*SUP 3: $76.60 - Daily Bull channel base off Apr 9 low 
*SUP 4: $76.16 - 21-DMA
*COMMENTARY: The lack of topside follow through on Tuesday's high was less than
ideal for bulls. Bears continue to look for a close below $77.55 to hint at a
correction back to $75.84-76.60 where the bull channel base and 21-DMA are
located. Below $75.98 is now 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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