BRENT TECHS: (V4) Bullish Extension 

• RES 4: $88.44 - High Apr 12 and a medium-term bull trigger
• RES 3: $87.05 - High Jul 5 
• RES 2: $84.22 - 76.4% retracement of the Jul 5 - Aug 5 low 
• RES 1: $82.40 - High Aug 12 and key resistance     
• PRICE: $81.38 @ 07:02 BST Aug 27
• SUP 1: $79.24/75.05 - Low Aug 26 / Low Aug 5 and a key support  
• SUP 2: $74.96 - Low Feb 5
• SUP 3: $73.31 - Low Dec 13 2023 and a key support
• SUP 4: $67.60 - 1.618 proj of the Apr 12 - Jun 4 - Jul 5 price swing   

Brent futures traded sharply higher Monday, marking an extension of the rebound from the Aug 21 low. The contract has cleared the 50-day EMA and this undermines the recent bearish theme. Attention turns to the key short-term resistance at $82.40, the Aug 12 high. A break would highlight a stronger reversal. For bears, a reversal lower would instead refocus attention on $75.05, the Aug 5 low and key support.