Brent Oil – Next destination is $53.50

Brent’s convincing bullish break from the falling channel on Wednesday followed by a rebound from the psychological level of $52.00 and a subsequent rise above $52.62 today suggests the prices are on track to test strong resistance around $53.50 (Jan 10 low).
On the lower side, only a daily close back inside the falling channel would signal bullish invalidation.
Expect fresh bids around 5-DMA.