Brent

Please find attached the preferred medium and long term outlook on Brent.

The longer- term view on Brent is important as confirmation of the medium-term stance.

A large trend should materialize on completion of the current consolidation phase.

Please find attached the monthly Brent technical analysis update.

The requested Brent update.

The complex consolidation makes detailed analysis hazardous.
This is, however, our preferred stance.

“Sometimes we are unsure… and other times we just don’t know”