Brent Oil: Rally starts to gain more momentum towards $100 – Credit Suisse

Brent Crude Oil has seen a clear break above the 2018 and 2021 highs $86.70/74 and is starting to gain momentum, strategists at Credit Suisse report.

Break above psychological $100 resistance to open up the $115.71 high of 2014

“We see resistance at $96.23/75, next, then the psychological $100 resistance, where we would expect a fresh consolidation phase to emerge.” 

“Should strength directly extend, we see resistance next at $103.95, then the $115.71 high of 2014.”