The Brent price has stalled again after a modest up-day yesterday, so a move back towards $36 may provide another buying opportunity.
A move through $37 takes us on to the 100-day simple moving average at $39.20. Only sustained price action below $35.50 would suggest that the bounce has run its course.
WTI continues to climb
The steady trend higher continues, although so far we have yet to see a move above $35. However, the most prudent move still seems to be to wait for another dip to buy, rather than selling the highs.
Moves back to $33.70 would provide a test of the current rising trendline, with a more attractive risk/reward than at current levels.