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- RES 4: $46.68 - Low Mar 6 and gap high on the daily chart
- RES 3: $46.37 - 50.0% retracement of the Jan - Apr sell-off
- RES 2: $45.07 - High Jul 21 and the bull trigger
- RES 1: $44.29 - High Jul 29
- PRICE: $43.80 @ 06:37 BST Aug 4
- SUP 1: $41.72 - Low Jul 30 and pivot support
- SUP 2: $39.94 - Low Jun 25
- SUP 3: $37.59 - Low Jun 12 and a reversal trigger
- SUP 4: $35.87 - Low May 29
Following the acute volatility last Thursday, Brent futures have traded well, recovering swiftly from the support printed down at $41.72. This level represents an important pivot point. A break would reinforce the potential bearish significance of the mid-week sell-off and set the scene for a deeper pullback that would expose $39.94, Jun 25 low, an important reversal trigger too. While $41.72 holds, the focus is on whether key resistance at $45.07 will be breached to resume the uptrend.