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

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.