Charts we are watching: oil

Oil technicals

Brent is trading just above the 100 day moving average as well as the upper part of the negative trend channel that has been in place since Q3 2022. 85/86 is the first short term resistance area to watch, and currently where we have printed day highs. Note the 200 day moving average coming in at 90, which is the huge resistance. First short term support is down around the 80 level.