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WTI And Brent At Fresh Highs

OIL TECHS

Oil continues to climb with both WTI and Brent at fresh trend highs, confirming a resumption of their uptrends.

  • WTI (G1) targets $54.50 next, the Feb 20 high, 2020 and a key resistance (cont).
  • Brent is on course for a climb towards $58.59, 76.4% of the Jan - Apr 2020 sell-off (cont).

It is worth noting that trend conditions in both are overbought and have been for some time. The risk of a pullback increases of course as price continues to rise.

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