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(J2) Key S/T Support Defined At $90.12

BRENT TECHS
  • RES 4: $100.00 - Key psychological barrier
  • RES 3: $98.94 - 2.764 proj of the Dec 2 - 9 - 20 price swing
  • RES 2: $97.36 - 2.618 proj of the Dec 2 - 9 - 20 price swing
  • RES 1: $96.78 - High Feb 14 and the bull trigger
  • PRICE: $93.36 @ 06:57 GMT Feb 21
  • SUP 1: $90.12/87.72 - Low Feb 18 / Low Feb 1
  • SUP 2: $86.19 - 50-day EMA
  • SUP 3: $84.22 - Low Jan 24 and a key support
  • SUP 4: $79.95 - Low Jan 10

Brent futures have managed to recover from Friday’s low of $90.12 and this low represents an important short-term support. Continued gains would expose the bull trigger at $96.78, Feb 14 high where a break would once again confirm a resumption of the underlying uptrend and open $97.36, a Fibonacci projection. On the downside, a clear break of $90.12 would alter the picture.

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