(Z3) Uptrend Remains Intact

• RES 4: $100.00 - Key psychological round number
• RES 3: $99.73 - 1.236 proj of Jun 23 - Aug 10 - Aug 24 price swing
• RES 2: $96.22 - 1.00 proj of Jun 23 - Aug 10 - Aug 24 price swing
• RES 1: $95.35 - High Sep 28
• PRICE: $92.29 @ 07:01 BST Oct 2
• SUP 1: $90.41 - Low Sep 26 and key support
• SUP 2: $87.37 - 50-day EMA
• SUP 3: $81.33 - Low Aug 24
• SUP 4: $77.54 - Low Jul 17

The uptrend in Brent futures remains intact and last week’s recovery confirmed a resumption of the uptrend - resistance at $94.57, the Sep 19 high, has been cleared. The move higher maintains the bullish price sequence of higher highs and higher lows and opens 96.22, a Fibonacci projection ahead of the psychological $100.00 handle. Key short-term support is at $90.41, the Sep 26 low. A break would highlight a possible S/T top.