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Free Access(X1) Resumes Its Uptrend
- RES 4: $80.37 1.00 proj of the Aug 23 - Sep 3 - Sep 9 price swing
- RES 3: $80.00 - Psychological round number
- RES 2: $78.13 - 0.764 proj of the Aug 23 - Sep 3 - Sep 9 price swing
- RES 1: $76.74 - 0.618 proj of the Aug 23 - Sep 3 - Sep 9 price swing
- PRICE: $76.36 @ 07:05 BST Sep 23
- SUP 1: $73.26 - Low Sep 21 and key near-term support
- SUP 2: $70.88 Low Sep 9
- SUP 3: $69.77/$68.13 - Low Aug 26 / Low Aug 24
- SUP 4: $64.20 - Low Aug 23 and a key support
Brent futures have recovered from recent lows. Tuesday's price formation was a doji candle, signalling a resumption of gains and the contract has breached 76.13, Sep 15 high to confirm a resumption of the uptrend. The move higher paves the way for a climb towards $76.74 next, a Fibonacci projection. Key short-term support has been defined at $73.26, Sep 21 low. A break would signal a short-term top.
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