Price rallied on Wednesday again and looks determined to resume the upside movement, but needs to take out a major static resistance to do that. Is consolidation on the short term and tries to recapture more directional energy before will try to climb towards fresh new highs.
Brent jumped higher as the United States Crude Oil Inventories have dropped unexpectedly lower in the previous week, were reported at -6.5 million barrels, much lower versus the -2.6M estimated and compared to the -1.5M in the former reading period.
Only a valid breakout above the 53.03 will confirm a further increase, another rejection will bring attract the sellers again.
