FXStreet reports that strategists at Credit Suisse discuss Brent Oil prospects.

“Brent Oil completed a bullish ‘triangle’ continuation pattern in Q2, which had been forming since March as well as breaking the key 2019 and 2020 highs at $71.75/95, hence reinforcing the existing bull ‘flag’ whilst also suggesting we are seeing a much larger, longer-term base.” 

“We stay bullish with resistance seen next at our original bull ‘flag’ target at $79.10, then the aforementioned ‘measured triangle objective’ at $82.50.”

“Bigger picture, above $82.50 can expose the 2018 high at even more distant $86.74 next, which we expect to cap the market at least temporarily.”