Here at Futures Techs we cover, on a daily basis, Brent Crude Oil, GasOil, NYMEX WTI (AKA Light Sweet Crude), Natural Gas and Carbon Emissions. Below is today’s comment and levels for Brent Crude, where we’ve seen a good move in recent sessions.

A bullish breakout on Wednesday was backed up beautifully by another strong session yesterday as we traded up from 80.41 to 82.40. In overnight trade we’ve extended these gains and have printed 83.01 as we write, getting above the next big resistance, the 82.94 high seen on August 4th.

So it’s all going rather well for the bulls and we’re now looking up to see where this can go next. The next big resistance dates back to early May and is the high/failure back then; 89.58.

That’s right. The next big resistance is 7 bucks away.  83.75 and 87.00 might try and have a say in the meantime.

Chart Levels

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R7  – 86.98

R6  – 86.28

R5  – 85.95

R4  – 85.00

R3  – 84.18

R2  – 83.75

R1  – 83.25

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S1  – 82.94

S2  – 82.40

S3  – 82.11

S4  – 81.45

S5  – 81.13

S6  – 80.41

S7 –  80.00