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Brent technical levels shift over time as May contract lifts back above $87 again

The price of Brent crude oil for May delivery is just now edging back above $87 per barrel. Earlier updates here noted a technical level in place at around $87.50. Well, seeing as the chart shifts each day on that, the new level today comes in now at around $87.75. That is the upper rising trend line of a potential price channel that has been mentioned a few times in updates here. Now there is no guarantee the price will get there and no guarantee this level will definitely provide resistance. However, it is there in black and white on the daily charts and so conveyed to you here. Brent for May delivery is currently trading at $87.07
 

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