Brent oil – Retakes rising trend line

Resistance- $50.89, $52.43, $52.83

Support - $50.73 (rising trend line – black), $49.82, $48.62

• Brent’s daily closing back above rising trend line – black indicates a temporary bottom is in place at $46.92 and prices could move higher to $52.43 - $52.83 levels if today’s closing is above rising trend line – black as well.
  

• On the other hand, repeated failure to take out $50.89 followed by a hourly closing below $50.73 would open doors for a re-test of $50 - $49.82 levels.