Brent Crude headed higher from support at 106.40/30 as predicted beating 106.85/90 to hit our target of 107.35/45 and a high for the day as expected. We topped exactly here and should struggle at this resistance again today. However the outlook is more positive so be ready to buy in to longs on a break higher to retest Friday's high at 107.77 and possibly as far as Fibonacci resistance at 108.05/10. Exit longs here and then try shorts up to 108.55/65 with a high for the day expected.
Immediate support is 106.90/80 but below here a buying opportunity at 106.60/50. Exit any shorts and try longs with stops below 106.30.