Brent oil - pushing against resistance

With its biggest weekly gain since July, the Brent crude has run into a short-term resistance near 109.00 marked by the falling S/T trend resistance and the 0.618 fibo level of the previous down leg. Look for a long entry above 109.00 while pullbacks should hold above the previous week's high at 106.55. Below that level the bias turns bearish again.