Brent tests $115 and steps back

Just under an hour ago oil prices rose again and this time the move higher was led by WTI. That allowed Brent to take out the earlier session high seen during the Asian session, at $114.72. It then pressed on and had a very close look at the $115 handle for the first time this year. 

The high was set at exactly $115 open barrel and the reversal from there saw it fall back just below the $114 handle. So, this thing gone far enough, or is there another leg higher left in the tank? Hard to say, but as we pointed out yesterday and earlier today, there is nothing but clear space on the charts. Brent for December delivery is right now at $114.60