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(Z1) Bullish Focus

BRENT TECHS
  • RES 4: $90.93 - 2.236 proj of the Aug 23 - Sep 3 - Sep 9 price swing
  • RES 3: $90.00 - Psychological round number
  • RES 2: $88.74 - 2.00 proj of the Aug 23 - Sep 3 - Sep 9 price swing
  • RES 1: $86.70/87.00 - High Oct 25 / Round number resistance
  • PRICE: $85.74 @ 06:54 BST Oct 27
  • SUP 1: $83.36 - Low Oct 21
  • SUP 2: $82.92/20 - 20-day EMA / Low Oct 13
  • SUP 3: $79.08/78.75 - Low Oct 7 and key support / Low Oct 4
  • SUP 4: $76.51/75.42 - Low Sep 30 and key support / High Sep 15

Brent futures are consolidating. The bull trend remains intact and the contract started this week on a firm note. Fresh highs once again Monday confirm a resumption of the uptrend and maintain the bullish price sequence of higher highs and higher lows. Moving average studies remain in a bull mode and the focus is on $87.00 next. Initial firm short-term support is seen at $82.92, the 20-day EMA.

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