Brent futures traded higher again Friday and the contract has cleared $115.76, Mar 24 high and a short-term bull trigger. The break higher signals scope for a move towards the $120.00 handle and $121.13, a Fibonacci retracement. A break of $121.13 would strengthen bullish conditions and set sights on the major resistance and trend high of $129.94, the Mar 7 high. On the downside, key short-term support has been defined at $105.70, May 13 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

EM Bullet Homepage markets-real-time Commodities Energy Bullets Bullet Markets Emerging Markets News Foreign Exchange News Energy Technical Analysis

Edward Hardy

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

EM Bullet Homepage markets-real-time Commodities Energy Bullets Bullet Markets Emerging Markets News Foreign Exchange News Energy Technical Analysis

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(N2) Clears Resistance