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OIL TECHS: ICE BRENT: (U18) $76.36 Resistance Key
*RES 4: $78.15 - Low July 10 now resistance
*RES 3: $76.36 - Low July 6 now resistance
*RES 2: $76.19 - 55-DMA
*RES 1: $75.29 - Hourly resistance July 16
*PRICE: $74.90 @ 0430GMT
*SUP 1: $74.69 - Hourly resistance July 13 now support
*SUP 2: $72.70 - Low June 21
*SUP 3: $72.19 - 100-DMA
*SUP 4: $72.11 - Monthly Low June 18
*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 ($72.55) is the key concern for bears with potential
to limit follow through. The $76.36 resistance remains key. Bulls need a close
above $76.36 to confirm breaks of 21 & 55-DMAs, easing bearish pressure and
shifting focus back to $78.15-80.07.