(U1) Lower But Remains Above Key Support

• RES 4: $78.03 - High Oct 29, 2018 (cont)
• RES 3: $77.86 - 1.382 proj of Mar 23 - May 18 - May 21 price swing
• RES 2: $77.84 - High Jul 6 and the bull trigger
• RES 1: $76.72 - High Jul 14
• PRICE: $73.20 @ 06:50 BST Jul 16
• SUP 1: $73.01 - Intraday low
• SUP 2: $72.11 - Low Jul 8 and key near-term support
• SUP 3: $71.24 - Low Jun 17
• SUP 4: $69.42 - High May 18

Brent futures remain above last week's lows but are trading lower. Recent gains suggested a bullish theme had been re-established and attention is on the key resistance at $77.84, Jul 6 high where a break would negate recent bearish concerns and confirm a resumption of the uptrend. On the downside, the key short-term support to watch has been defined at $72.11, Jul 8 low. A breach of this support would signal a short-term top.