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ICE BRENT: (U18) Remains Capped Ahead.....>

OIL TECHS
OIL TECHS: ICE BRENT: (U18) Remains Capped Ahead Of 21-DMA
*RES 4: $78.80 - High May 31 
*RES 3: $77.63 - High June 1 
*RES 2: $75.69 - 21-DMA 
*RES 1: $75.35 - High June 20
*PRICE: $74.22 @ 0350GMT
*SUP 1: $73.73 - Low June 20 
*SUP 2: $73.37 - Hourly resistance June 15 
*SUP 3: $72.11 - Low June 18 
*SUP 4: $71.12 - Low Apr 20
*COMMENTARY: Bears failed to capitalise on Friday's close below the 55-DMA
($74.45) with the aggressive rally Monday buying bulls breathing room. Bulls now
need a close above $77.63 to confirm traction above the 21-DMA, ending bearish
hopes and returning focus to $80.07. Support layers building is a concern for
bears who now look for a close below $73.37 to ease bullish pressure and return
focus to $71.12-72.11.

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