(M1) Recent Highs Intact

• RES 4: $70.67 - High Mar 8 and the key bull trigger
• RES 3: $69.50 - High Mar 15
• RES 2: $67.76- High Mar 18
• RES 1: $65.39 - High Mar 29
• PRICE: $62.83 @ 06:54 Apr 7
• SUP 1: $61.25 - Low Apr 5
• SUP 2: $60.33 - Low Mar 23 and the bear trigger
• SUP 3: $58.27 - 38.2% retracement of the Nov 2 - Mar 8 rally
• SUP 4: $56.80 - High Jan 13

Brent crude futures are unchanged and remain below recent highs. Last week's break higher through $64.97, Mar 22 high failed to deliver any bullish follow through despite signalling scope for a short-term recovery. Price would need to trade above $65.39, Mar 30 high to again suggest scope for an extension higher. This would open $67.76, the Mar 18 high. On the downside, key support and the bear trigger is unchanged at $60.33, low Mar 23.