(K3) Remains Vulnerable Despite Bounce

• RES 4: $91.48 - High Nov 14
• RES 3: $90.00 - Round number resistance
• RES 2: $88.78 - High Jan 23 and a key resistance
• RES 1: $84.00/86.75 - High Mar 9 / 7 and a key resistance
• PRICE: $82.98 @ 06:51 GMT Mar 13
• SUP 1: $80.25 - Low Feb 23 and a key short-term support
• SUP 2: $78.84 - Low Feb 6
• SUP 3: $77.76 - Low Jan 5
• SUP 4: $76.04 - Low Dec 12 and the bear trigger

Brent futures remain vulnerable following last week’s bearish price action. A key resistance has been defined at $86.75, the Mar 7 high. A break of this hurdle is required to reinstate the recent bullish theme. Key short-term support lies at $80.25, the Feb 23 low. Clearance of this level would strengthen the bearish threat and open $78.48, the Feb 6 low. Initial resistance is at $84.00, last Thursday’s high.