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Brent holds noted trend line support and rebounds
An earlier update here on the price of December Brent crude oil noted an interim technical support level in place at $73.70. Not long after that update went out Brent tested that level and nailed it to the pip and so far it has capped the downside run today. The price has now rebounded back above $74.25, reaching $74.38 a short while ago. It is just backing away from that high now though and that interim rising trend line has now shifted slightly owing the changing dynamics of the chart. Right at this moment it is now at $73.73. Brent is currently trading at $74.30
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