(J2) Trend Conditions Remain Bullish

• RES 4: $95.00 Round number resistance
• RES 3: $93.24 - 2.382 proj of the Dec 2 - 9 - 20 price swing
• RES 2: $90.69 - 2.00 proj of the Dec 2 - 9 - 20 price swing
• RES 1: $90.27 - High Jan 28
• PRICE: $89.38 @ 07:02 GMT Feb 1
• SUP 1: $87.79 - Low Jan 27
• SUP 2: $85.14/84.22 - 20-day EMA / Low Jan 24 and key support
• SUP 3: $81.29 - 50-day EMA
• SUP 4: $79.95 - Low Jan 10

Brent futures remain bullish. The contract resumed its uptrend last week following the break of former resistance at $88.69, the Jan 20 high. This maintains the bullish price sequence of higher highs and higher lows and moving average conditions remain in a bull mode. The $90.00 handle has been probed and the focus is on $90.69, a Fibonacci projection. On the downside, key S/T support has been defined at $84.22, the Jan 24 low.