Brent is up to $103.45. It has recovered very nicely off the $98.71 level. As it stands above both the MAs and in the upper channel it keeps the broad picture positive. However, $103.89 remains the key breakout level and buyers still need a clear break above it to strengthen the uptrend.

$103.89 is the first resistance. A clear break above this would target $106.03 and then $109.79. For support, $102.78 is the first. Under this, $98.71, $95.64, and $93.15 come into play.

RSI has improved recently and is above the 50 level. This means the momentum is positive, but is not overextended. With Brent above $102.78, I like longs. A close above $103.89 further strengthens the uptrend and targets the $106.03 area. A move through $98.71 invalidates the current pattern.