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Brent crude testing technical levels today

Yesterday the price of Brent crude did rise further and it did briefly push above a previously noted topside trend line level. That was in place around $87.76 and the price almost touched $88. The high seen was set at $87.98. Brent later backed off slightly and settled $0.42 higher on the NYMEX exchange, at $87.42. Today that trend line level is in place right now at $87.87 and that has been high seen so far this morning. So, as you can see it is capping the topside for the time being. We shall see if that remains the case as the day unfolds. Brent for June delivery is currently trading at $87.84

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