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(H3) Remains Below Wednesday’s High

BRENT TECHS
  • RES 4: $92.43 - High Nov 16
  • RES 3: $90.49 - High Nov 17
  • RES 2: $89.18 - High Dec 1
  • RES 1: $87.85 - High Jan 18 and key short-term resistance
  • PRICE: $86.41 @ 06:53 GMT Jan 20
  • SUP 1: $83.29/77.61 - 20-day EMA / Low Jan 5
  • SUP 2: $75.64 - 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 remain below Wednesday’s short-term trend high of $87.85. Support at $83.29, the 20-day EMA, remains exposed. A break of this average would highlight a possible bearish reversal and open $77.61, the Jan 5 low. Key short-term resistance has been defined at $87.85 where a break is required to cancel any bearish threat and instead confirm a resumption of recent bullish activity.

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