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(X3) Heading North

BRENT TECHS
  • RES 4: $100.00 - Key psychological round number
  • RES 3: $96.95 - High Nov 14 2022 (cont)
  • RES 2: $94.79 - High Nov 16
  • RES 1: $92.91 - High Nov 17 2022 (cont)
  • PRICE: $92.31 @ 06:22 BST Sep 13
  • SUP 1: $87.59 - 20-day EMA
  • SUP 2: $84.26 - 50-day EMA
  • SUP 3: $81.61 - Low Aug 24
  • SUP 4: $77.84 - Low Jul 17

The uptrend in Brent futures remains intact and yesterday’s gains reinforce this condition. The break higher confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull-mode position too, highlighting a rising trend. Sights are on $92.91 next, the Nov 17 2022 high (cont). On the downside, initial firm support to watch is at the 20-EMA which intersects at $87.59 today.

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