For all those practising technical baffoonery I mentioned that...

For all those practising technical baffoonery I mentioned that $44.20 in WTI was a support level that was tested, held and bounced. I guess we are interested in the Brent price which from all accounts is similar to Tapis (happy to stand corrected) and note that Brent needs to break through the circa $60.00 (200 EMA) to really gain some traction (sorry did not get the Brent support). WTI 200EMA will be around the $57.00 mark

The question is what will be the drivers to push oil through the 200 EMA? Supply/demand or geopolitical events.

Cheers
BW
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