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(F1) Clears Last Week's High

BRENT TECHS
  • RES 4: $44.67 - High Sep 18 and a key resistance
  • RES 3: $44.55 - 76.4% retracement of the Aug 26 - Nov 2 sell-off
  • RES 2: $43.99 - High Oct 9
  • RES 1: $43.48 - High Nov 9
  • PRICE: $41.95 @ 06:36 GMT Nov 10
  • SUP 1: $39.34 - Low Nov 6
  • SUP 2: $38.65 - Low Nov 3
  • SUP 3: $35.74 - Low Nov 2 and the bear trigger
  • SUP 4: $33.59 - 76.4% retracement of the Apr - Aug rally

Brent futures traded sharply higher yesterday clearing last week's high of $41.53 and more importantly also trading through resistance defined by the 20- and 50-day EMAs. The break higher has exposed resistance at $43.99, Oct 9 high where a break would trigger stronger upside and open $44.67, Sep 18 high. On the downside, firm support has been defined at $39.34, the Nov 6 low.

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