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(J1) Firm Above $60.00

BRENT TECHS
  • RES 4: $65.00 - Round number resistance
  • RES 3: $64.58 - High Jan 22, 2020 (cont)
  • RES 2: $62.46 - High Jan 24, 2020 (cont)
  • RES 1: $61.69 - High Feb 10
  • PRICE: $60.69 @ 06:41 GMT Feb 12
  • SUP 1: $59.08 - Low Feb 5
  • SUP 2: $57.74 - 20-day EMA
  • SUP 3: $57.31 - High Jan 13 and former breakout level
  • SUP 4: $54.40 - Low Jan 22

Brent futures are holding onto gains, and maintain a bullish tone following recent strength and the confirmed resumption of the underlying uptrend, marked by the breach of $57.31, Jan 13 high. The contract has this week cleared $60.00 and the break signals potential for a climb towards $62.46 next, the Jan 24 2020 high (cont). On the downside, initial firm support is seen at $57.31 with key trend support at $54.40, Jan 22 low.

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