Brent crude advances further above technical resistance

If you care to do so, please take a look at the longer term chart of Brent crude for April delivery and will see that it has advanced further and lifted above the noted 200 day moving average. That was highlighted here yesterday when it was in place at $75.76. It is in place this morning at $75.75. In fact, Brent rose above this price point yesterday too, after holding at or just below it for a good deal of the session. Brent later pushed above $76 per barrel and subsequently settled $1.21 higher on the NYMEX exchange, at $75.87. That was a technically positive close and has surely helped the price to extend so far today. Brent has lifted to set a high at $76.61. It is not much below that high right now, currently trading at $76.59