INteresting to look at how crucial the 48.26-4829 area is for Brent here.
4816 and 4826 are the recent highs from April, BUT if you take a wider picture, and fib retrace on a weekly chart from the last major high in May2015 to the low early this year, the 50% retrace of that whole move is.... 48.29, bang on that April high (we allow for few cent slippage!)
Break that 4826-4829 region and Brent could rocket - something to consider.
4816 and 4826 are the recent highs from April, BUT if you take a wider picture, and fib retrace on a weekly chart from the last major high in May2015 to the low early this year, the 50% retrace of that whole move is.... 48.29, bang on that April high (we allow for few cent slippage!)
Break that 4826-4829 region and Brent could rocket - something to consider.
