ICE BRENT: (U18) Above $76.36 To Shift....>

OIL TECHS: ICE BRENT: (U18) Above $76.36 To Shift Focus Higher

*RES 4: $76.11 - 55-DMA 

*RES 3: $75.37 - High July 16

*RES 2: $74.59 - Hourly support July 16a now resistance 

*RES 1: $73.79 - High July 19

*PRICE: $72.67 @ 0430GMT

*SUP 1: $71.83 - Low July 19 

*SUP 2: $71.12 - Low Apr 20, Bollinger band base 

*SUP 3: $70.21 - Daily Bull channel base off Feb low 

*SUP 4: $68.83 - Low Apr 11

*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 ($71.03) is the key concern for bears with potential

to limit follow through. Bulls now look for a close above $73.79 to gain

breathing room. The $76.36 resistance remains key. Bulls need a close above

$76.36 to confirm breaks of 21 & 55-DMAs and shift focus back to $78.15-80.07.