Brent oil has been able to extend its rebound from the $80/bbl mark despite rising US crude inventories this week.
Though capped by widely-watched moving averages in recent cycles, forays below that psychologically-important level have proven fleeting in recent months, with oil bulls perhaps also drawing confidence from the series of higher lows posted since December.
With Brent being forced into a triangle pattern, it suggests a looming break-out over the near-term.
There's a better website for you
A new exciting website with services that better suit your location has recently launched!
Sign up here to collect your 30% Welcome Bonus.