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

OIL TECHS
OIL TECHS: ICE BRENT: (Q18) Topside Follow Through Lacking
*RES 4: $80.50 - High May 22 
*RES 3: $79.88 - High May 23 
*RES 2: $79.18 - High May 31 
*RES 1: $78.18 - Hourly resistance May 31
*PRICE: $77.53 @ 0430GMT
*SUP 1: $76.68 - Hourly resistance May 30 now support 
*SUP 2: $76.23 - High May 29 now support 
*SUP 3: $74.53 - Low May 28 
*SUP 4: $74.28 - Bollinger band base
*COMMENTARY: Bears have so far failed to capitalise on last Friday's sell-off
with the contract regaining lost ground. In saying that, topside follow through
is lacking with bears retaining the upper hand and remaining focused on
$71.65-72.80 where the 55-DMA is noted. Bulls now look for a close above $78.18
to return pressure to layers of resistance $79.18-80.50 where 2018 highs are
situated.

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