Brent rallied and looks determined to take out the dynamic resistance from the outside sliding parallel line (SL), a valid breakout will confirm a further increase towards the 53.03 resistance and towards the 61.8% retracement level. I’ve said in the previous analysis that is expected to increase further and now is trading right above the $51.50 per barrel. Was boosted also by the poor US Crude Levels, the indicator dropped to -7.2M in the previous week, much below the -3.3M estimate.
