TECHS: Brent and WTI remain in a........>

COMMODITIES: TECHS: Brent and WTI remain in a clear uptrend and technical

studies suggest gains are likely to extend near-term:

- Momentum, using the 14-day RSI is rising, reinforcing the bullish cycle.

- An important moving average, the 50-day exponential MA (EMA) has also been

cleared. This average is a tool we use to identify underlying trend direction

and, to determine where a key area of support or resistance exists. A clear

break of the EMA suggests the trend is strengthening and even highlights a

potential near-term reversal. Both Brent and WTI have cleared this EMA.

- An ability to hold above the EMA would certainly be a positive development.

- Where to from here?:

- Brent (CON0) gains have exposed $38.31, Apr 2 high and just ahead of the 38.2%

retrace of the Jan - Apr sell-off at $38.58. Key trend support is at $27.98,

MMay 6 high.

- WTI (CLN0) attention is on $35.18, Apr 9 high and just above 38.2% of the Jan

- Apr decline. Key support lies at $32.27, May 6 high. (1/2)