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(H3) Resistance Remains Exposed

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: $87.52 @ 06:48 GMT Jan 23
  • SUP 1: $83.64/77.61 - 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 have returned to their recent highs and attention is on $87.85, the Jan 18 high. A break of this hurdle would cancel recent bearish signals and resume the uptrend that started Jan 5. A break would expose $89.18, the Dec 1 high and key resistance. On the downside, support to watch lies at $83.64, the 20-day EMA. A move through this support would represent a bearish development.

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  • 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: $87.52 @ 06:48 GMT Jan 23
  • SUP 1: $83.64/77.61 - 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 have returned to their recent highs and attention is on $87.85, the Jan 18 high. A break of this hurdle would cancel recent bearish signals and resume the uptrend that started Jan 5. A break would expose $89.18, the Dec 1 high and key resistance. On the downside, support to watch lies at $83.64, the 20-day EMA. A move through this support would represent a bearish development.