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- RES 4: $71.95 - High Sep 16, 2019 (cont)
- RES 3: $71.75 - High Jan 8 2020 (cont)
- RES 2: $70.00 - Psychological round number
- RES 1: $69.95 - High May 5
- PRICE: $68.59 @ 06:51 BST May 12
- SUP 1: $67.13 - Low May 11
- SUP 2: $66.10 - Low May 3
- SUP 3: $64.75 - 50-day EMA
- SUP 4: $63.93 - Low Apr 26
Brent crude futures price structure remains bullish. Price on May 5, probed key resistance at $69.73, Mar 8 high. A clear break of this level would confirm a resumption of the broader uptrend and extend the bullish price sequence of higher highs and higher lows. This would open $71.75, the Jan 8, 2020 high (cont). On the downside, initial firm support has been defined at $66.10. A break would be bearish.