(J3) Holding On To Its Recent Gains

• RES 4: $90.34 - 76.4% retracement of the Nov 7 - Dec 12 bear leg
• RES 3: $89.00 - High Jan 23 and the bull trigger
• RES 2: $86.66 - 76.4% retracement of the Jan 23 - Feb 6 bear leg
• RES 1: $85.50 - High Feb 9
• PRICE: $84.24 @07:01 GMT Feb 10
• SUP 1: $81.19/79.10 - Low Feb 7 / 6
• SUP 2: $77.77 - Low Jan 5
• SUP 3: $75.89 - Low Dec 12 and the bear trigger
• SUP 4: $73.48 - 1.00 proj of the Nov 7 - Dec 12 - Jan 23 price swing

Brent futures traded higher again Thursday, extending the bounce from $79.10, the Feb 6 low and the contract is holding on to the bulk of its latest gains. Price has traded above the 50-day EMA and attention turns to 86.66, a Fibonacci retracement. A break of this level would expose the key resistance at $89.00, the Jan 23 high. On the downside, a breach of $79.10, the Feb 6 low, is required to reinstate a recent bearish theme.