(K3) Bullish Theme

• RES 4: $88.78 - High Jan 23 and a key resistance
• RES 3: $86.55 - High Feb 13
• RES 2: $85.83 - High Feb 16
• RES 1: $85.10 - High Feb 17
• PRICE: $84.56 @ 06:56 GMT Mar 3
• SUP 1: $82.61 - Low Mar 1
• 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 again Thursday and the contract is holding on to its recent gains. Price has moved above resistance at the 50-day EMA this week - the average intersects at 83.72. 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.