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- RES 4: $74.20 - High Apr 26, 2019 (cont)
- RES 3: $73.40 - High May 20 2019 (cont)
- RES 2: $73.00 - Round number resistance
- RES 1: $72.27 - Intraday high
- PRICE: $71.26 @ 06:56 BST Jun 7
- SUP 1: $69.90 High May 18 and the recent break out level
- SUP 2: $68.94 - 20-day EMA
- SUP 3: $66.39/64.50 - Low May 24 / Low May 21 and key support
- SUP 4: $63.51 - Low Apr 22
Brent crude futures traded higher last week. Attention is on $72.21, a Fibonacci extension and $73.40, the May 20, 2019 high (cont). Price recently breached the 50-day EMA however levels around the average continue to provide strong trend support. Weakness through $64.50, the May 21 low is required to signal a key short-term top. Initial support though lies at $69.90 with the 20-day EMA intersecting at $68.94.