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(F1) Trades Above Resistance

BRENT TECHS
  • RES 4: $47.27 - High Aug 26 and key resistance
  • RES 3: $46.86 - High Sep 2
  • RES 2: $46.00 - Round number resistance
  • RES 1: $45.68 - Intraday high
  • PRICE: $45.31 @ 06:41 GMT Nov 23
  • SUP 1: $43.48 - Low Nov 18
  • SUP 2: $42.63 - Low Nov 13 and key near-term support
  • SUP 3: $41.71 - Low Nov 10
  • SUP 4: $39.34 - Low Nov 6 and a key support

Brent futures have traded higher today pushing through resistance at $45.30, Nov 11 high and the bull trigger. The move higher confirms a resumption of the recovery that has been in place since the Nov 2 reversal and paves the way for a climb towards $46.00 next and, potentially $47.27/31, the Aug 26 and 5 high respectively. On the downside, initial support is seen $43.48, Nov 18 low.

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