Brent’s rebound from 5-DMA followed by a rebound from a hourly rising trend line support indicates prices could make another go at yesterday’s high of $50.99.
Further gains need a day end closing above $50.99, in which case the recent high of $52.83 could be put to test next week.
On the other hand, a breach of rising trend line support would open doors for a slide to hourly 200-MA level of $48.48.