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ICE BRENT(V18) Looking For Direction......>

OIL TECHS
OIL TECHS: ICE BRENT(V18) Looking For Direction
*RES 4: $75.25 - 55-DMA 
*RES 3: $74.41 - Low July 26, 27 
*RES 2: $74.10 - 21-DMA
*RES 1: $73.75 - High August 2 
*PRICE: $73.41 @ 0535GMT 
*SUP 1: $72.48 - Hourly Low August 2 
*SUP 2: $71.84 - Low August 2 
*SUP 3: $71.30 - Low July 18 
*SUP 4: $70.90 - Bear channel bottom 
Brent continues to struggle for direction in the short-term but remains within
its medium-term bearish trend channel. In the short-term, bulls need a rally
above the August 2 high at $73.75 in order to challenge the 21-DMA and gain some
upside momentum, while bears need a break below the August 2 low of $71.84 to
mount an attack on the bear channel bottom down at $70.90. 

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