Brent Crude halted just a fraction below the 108.40 target to form a small double top but held just above good support at 107.20/15. Daily chart outlook is still quite positive with a bullish pattern & a break above the 100 day moving average & we should eventually target 109.64. If we can hold above 107.60/40 today we should push back up to 108.10 then 108.30/40. On a break higher resistance at 108.75/80 could hold the move at this stage.
A break below 107.50 today could target 107.05/95 which should hold the downside. Buy in to longs with stops below 106.60. If however we do break lower go with the move for 106.30, possibly 105.8/75.