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ICE BRENT: (U18) $76.12 Resistance Key....>

OIL TECHS
OIL TECHS: ICE BRENT: (U18) $76.12 Resistance Key Today
*RES 4: $78.15 - Low July 10 now resistance 
*RES 3: $76.36 - Low July 6 now resistance 
*RES 2: $76.12 - 21-DMA, 55-DMA 
*RES 1: $75.60 - Alternating daily support/resistance
*PRICE: $74.61 @ 0350GMT
*SUP 1: $73.37 - Rising daily TL off Feb 14 low 
*SUP 2: $72.70 - Low June 21 
*SUP 3: $72.10 - 100-DMA 
*SUP 4: $71.12 - Alternating daily support/resistance
*COMMENTARY: The lack of topside follow through and hesitation at $79.56 left
the contract looking heavy resulting in a sharp sell-off returning focus to
$71.12. The Bollinger base ($72.31) is the key concern for bears with potential
to limit follow through. The $76.12 resistance where 21 & 55-DMAs are noted is
now key. Bulls need a close above to ease bearish pressure and shift focus back
to $78.15-80.07.

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