The continuing short squeeze across the oil complexes is shown
quite graphically on the chart. The reverse head and shoulders
here points to a minimum upside target on Brent at 90.61 so
we can probably expect more of the same in the future. Near
term resistance lies at 81.27, then 83.30 and then a little
further out in time there should be a bigger jump
in price to 88.29 and the 90.61 target.
quite graphically on the chart. The reverse head and shoulders
here points to a minimum upside target on Brent at 90.61 so
we can probably expect more of the same in the future. Near
term resistance lies at 81.27, then 83.30 and then a little
further out in time there should be a bigger jump
in price to 88.29 and the 90.61 target.