(J2) Clears Recent Highs

• RES 4: $96.094 - 2.50 proj of the Dec 2 - 9 - 20 price swing
• RES 3: $95.00 Round number resistance
• RES 2: $93.24 - 2.382 proj of the Dec 2 - 9 - 20 price swing
• RES 1: $91.64 - Intraday high
• PRICE: $91.40 @ 06:57 GMT Feb 4
• SUP 1: $87.72 - Low Feb 1
• SUP 2: $86.39/84.22 - 20-day EMA / Low Jan 24 and key support
• SUP 3: $82.26 - 50-day EMA
• SUP 4: $79.95 - Low Jan 10

Brent futures delivered a fresh trend high print once again yesterday. The condition remains bullish. The contract resumed its uptrend last week following the break of $88.69, Jan 20 high. This means that a bullish price sequence of higher highs and higher lows remains intact. MA conditions are in a bull mode too. The $90.00 handle has been cleared and the focus is on $93.24, a Fibonacci projection. Initial support is at $87.72, the Feb 1 low.