Brent Crude May Rise to $115 on Rising Trend: Technical Analysis
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Brent crude may climb to almost $115 a barrel in the next two weeks after the most recent closes were above the previous highest levels, according to technical analysis by Futurestechs.com Ltd.
“The initial trends so far this year have been for prices to steadily rise before posing resistance at $112.40,” Liam Roberts, technical analyst at the Billericay, England-based researcher. “Now we have had consecutive closes above this level. The next upside target is $114.95, where we saw a number of highs in mid-October.”