(X20): Trend Sequence Remains Bullish

• RES 4: $48.97 - Low Mar 2
• RES 3: $47.03 - Low Mar 6 and gap high on the daily chart
• RES 2: $46.74 - 50.0% retracement of the Jan - Apr sell-off
• RES 1: $46.61 - High Aug 5
• PRICE: $45.67 @ 07:02 BST Aug 17
• SUP 1: $44.66 - Low Aug 7 and key near-term support
• SUP 2: $42.10 - Low Jul 30 and and the reversal trigger
• SUP 3: $40.22 - Low Jun 25
• SUP 4: $37.94 - Low Jun 12

Brent futures remain bullish although for now, this marker is consolidating. Attention is on the bull trigger at $44.61, Aug 5 high where a break would confirm a resumption of the uptrend and open $47.03, Mar 6 low and $48.97, low Mar 2. The core trend sequence of higher highs and higher lows remains intact, reinforcing underlying bullish conditions. Key near-term support for now is seen at $44.66, Aug 7 low.