(N3) Bearish Theme

• RES 4: $89.62 - High Nov 15 2022
• RES 3: $87.86 - High Jan 23 and a key resistance
• RES 2: $86.90 - High Apr 12 and the bull trigger
• RES 1: $82.88/84.83 - High Apr 25 / 19
• PRICE: $78.67 @ 06:58 BST Apr 28
• SUP 1: $76.52 - 61.8% retracement of the Mar 20 - Apr 12 bull run
• SUP 2: $75.00 - Round number support
• SUP 3: $74.31 - Low Mar 27
• SUP 4: $72.34 - Low Mar 24

Brent futures remain vulnerable and Wednesday's sharp sell-off reinforces the current bearish theme. The break lower signals scope for an extension towards $76.52, a Fibonacci retracement point and the $75.00 handle. Short-term key resistance has been defined at $82.88, the Apr 25 high where a break is required to ease bearish pressure and this would also highlight a potential reversal.