BRENT CRUDE OIL             has been flying of recent with prices up into the high 80’s. This longer term uptrend seems likely to continue also looking at the weekly trend the next stop should be around $90.00.
However we know that trends move in cycles and don’t move in completely straight lines so looking at our technicals we can see the 127.2 Fibonacci extension from the weekly timeframe looks to
show the uptrend running out of steam. In that case we could assume with a change of cycle on the lower timeframe that the market may want to test $80.00 before continuing the weekly uptrend.

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