(H3) Clears The 50-Day EMA

• RES 4: $91.39 76.4% retracement of the Nov 7 - Dec 9 low
• RES 3: $90.49 - High Nov 17
• RES 2: $89.18 - High Dec 1 and a key resistance
• RES 1: $86.28 - Intraday high
• PRICE: $86.15 @ 07:11 GMT Jan 3
• SUP 1: $81.85 - Low Dec 29 and a key short-term support
• SUP 2: $78.76/75.64 - Low Dec 16 / Low Dec 9 and the bear trigger
• SUP 3: $73.73 - 1.00 proj of the Nov 7 - 28 - Dec 1 price swing
• SUP 4: $69.28 - Low Dec 20 2021 (cont)

Brent futures maintain a bullish short-term tone and the contract is trading at its recent highs. The current bull cycle has resulted in a break of both the 20- and 50-day EMA values. This signals scope for a stronger recovery and has opened $89.18, the Dec 1 high and a key resistance. On the downside, initial firm support has been defined at $81.85, the Dec 29 low. A break would signal a potential top.