(K3) Bullish Short-Term Theme

• RES 4: $90.00 - Round number resistance
• RES 3: $88.78 - High Jan 23 and a key resistance
• RES 2: $86.55 - High Feb 13
• RES 1: $86.00 - High Mar 3
• PRICE: $85.19 @ 06:49 GMT Mar 6
• SUP 1: $82.36 - Low Mar 3
• SUP 2: $80.25/78.84 - Low Feb 23 / 6
• SUP 3: $77.76 - Low Jan 5
• SUP 4: $76.04 - Low Dec 12 and the bear trigger

Brent futures traded higher last week and the contract is holding on to the bulk of its recent gains. Price remains above the 50-day EMA - the average intersects at 83.80. A continuation higher would open $86.55, the Feb 13 high. Key short-term support has been defined at $80.25, the Feb 23 low. A break of this level would reinstate the recent bearish theme and this would open $78.84, the Feb 6 low.