- Brent’s rebound from 100-DMA on Tuesday followed by a daily closing above falling trend line resistance of $39.85 today would open doors for a re-test of March 8 high of $41.46.
- Bullish forces would work hard for a daily close above $41.46, since that would add credence to the rebound from 100-DMA support. In that case, prices could target $42.17 and $45.
Bulls need to watch if prices manage to end the day above rising trendline. Bullish invalidation is seen only if prices end the day below 100-DMA level