FXStreet reports that strategists at Credit Suisse note that Brent crude looks to be close to breaking above the 2020 and YTD 2021 high at $71.38/75 for the completion of a “triangle” continuation pattern and a resumption of its core bull trend.

“Brent Crude is retesting resistance from the $71.38/75 highs of 2020 and 2021. A break above here should mark the completion of a fresh bullish ‘triangle’ continuation pattern for a resumption of the core bull trend for a move to the 2019 high at $75.60, then the ‘measured flag objective’ at $79.10.” 

“Support is seen at the 63-day average at $66.64, which ideally holds.”