• Brent reversed from support level 85.35
• Likely to rise to resistance level 88.75
Brent recently reversed up from the key support level 85.35 (previous strong resistance level from October, actin as the support after it was broken at the start of this year).
The upward reversal from the support level 85.35 started the active short-term impulse wave (iii) of the higher order impulse waves (v) and 3.
Given the strength of the active uptrend – Brent can be expected to rise further toward the next resistance level 88.75 (top of the previous minor impulse wave (i)).
Source: Fxpro
