Brent Crude unexpectedly rocketed higher reaching 109.75. Immediate support is 109.10, but below here sees 108.75. If we continue lower look for a buying opportunity at 108.25/15 with a low for the day expected.
Above 109.75 we run in to very strong Fibonacci resistance at 109.95/110. Getting overbought short term so a good chance this holds a move higher at this stage. Exit longs and try shorts with stops above 110.45. A break higher then targets 110.65, and possibly as far as 111.20.