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January Brent above $87 again this morning

As noted here at the time, the price of January Brent crude rose from a low at $84.64 set in early US trading. The rebound that followed saw the price extend to above $86 per barrel and then above $87 into the NYMEX settlement, where it settled $2.22 higher, at $86.65. It has edged back above $87 again this morning, but so far stalled ahead of the 50 day moving average. That is still rising and in place today at $87.27. The low seen earlier was set at $86.67. The high seen so far has been set at $87.20. So, as you can see, despite rising the price action is not yet conclusive, but the immediate chart configuration does look to offer more upside for the time being. January Brent is currently trading at $87.04

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