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ICE BRENT: (U18) Bears Need Close Below...>

OIL TECHS
OIL TECHS: ICE BRENT: (U18) Bears Need Close Below 55-DMA
*RES 4: $80.07 - High May 22 
*RES 3: $79.56 - High June 29 
*RES 2: $78.95 - High July 2 
*RES 1: $78.55 - High July 3
*PRICE: $77.70 @ 0350GMT
*SUP 1: $77.50 - Alternating hourly support/resistance 
*SUP 2: $76.67 - Low July 3 
*SUP 3: $76.11 - Low June 27, 21-DMA 
*SUP 4: $75.76 - 55-DMA
*COMMENTARY: Topside follow through is lacking which is a concern for bulls
given the significance of the $80.07-50 resistance region and daily studies
looking to correct from O/B. Bears now look for a close below $77.50 to gain
breathing room and below the 55-DMA to shift focus back to $71.12-72.11 where
the 100-DMA ($71.45) is situated. Bulls need a close above $80.50 to target
$87.94 last seen in Oct 2014.

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