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Brent Crude Technical Analysis – 3rd May

FuturesTechs covers a number of contracts within the Energy complex; Brent Crude, GasOil, NYMEX WTI, Natural Gas, and Carbon Emissions.

As well as this our Commodity coverage includes Gold and Silver, plus Corn, Wheat and Soybeans.

Below is today’s Brent comment and chart. We also provide Support and Resistance levels, gleaned from our analysis of the charts, plus “Automated” levels from things like Pivot Points, Moving Averages, and Market Profile.

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Thursday’s high was 126.66. Shy of the 127.02 high from April 11th (looking at the continuation charts).

Friday’s high was 126.10, and yesterday’s high was 126.54, so we have some resistance to worry about all of a sudden.

We also have a potential reversal of the “Double Top” variety, but ONLY if we see a sell off through 119.03, which is our S7 support today, so is still a while away from becoming a reality.