Facing resistance from the falling trend line, Brent seems to have over come the resistance, now trading at $41.85 and ready to move higher. With the long term divergence on the monthly charts, brent may be targeting $65-$67 (which is the highest point in the developing divergence) levels in the medium term (end 2016-early 2017).
 |
| BrentMonthly |
The bounce in crude prices, however, may be a retracement in the larger down trend as can be seen from the following chart, with all the TOs, still trending below zero.
 |
| Brent Quarterly |
