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(V3) Bullish Price Sequence

BRENT TECHS
  • RES 4: $92.10 - 1.50 proj of the Jun 28 - Jul 13 - Jul 18 price swing
  • RES 3: $90.63 - High Nov 11 2022 (cont)
  • RES 2: $90.00 - Psychological round number
  • RES 1: $86.73 - High Aug 7
  • PRICE: $85.33 @ 06:52 BST Aug 8
  • SUP 1: $82.36/78.10 - Low Aug 3 / Low Jul 18 and key support
  • SUP 2: $74.78 - Low Jul 6
  • SUP 3: $72.04 - Low Jun 28
  • SUP 4: $71.21 - Low My 31

Bullish conditions in Brent futures remain intact and Friday’s gains confirmed a resumption of the uptrend. This maintains the current bullish price sequence of higher highs and higher lows and signals scope for a climb towards the psychological $90.00 handle next. Moving average studies remain in a bull mode position reflecting current market sentiment. First key support lies at $82.36, last Thursday’s low.

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