(Q1) Uptrend Remains Intact

• 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: $72.93 - High Jun 10
• PRICE: $72.38 @ 06:54 BST Jun 11
• SUP 1: $70.00 - 20-day EMA
• SUP 2: $69.90 High May 18 and the recent break out level
• 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 once again yesterday extending the underlying uptrend. The $72.00 handle has this week been cleared and attention turns to $73.00 and $73.40. The latter is the May 20, 2019 high (cont). Weakness through $64.50, the May 21 low is required to highlight a key short-term top. Initial support lies at $70.00, the 20-day EMA ahead of $69.90, May 18 high.