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Resistance Where Art Thou?

Our Technical Take on the Oil Market...
Published: February 24, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
,
Martha Dowding

Martha Dowding

Research Associate, Flux
Martha Dowding
and
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
9 page report
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The M1 Brent futures contract strengthened from a low of $66.80/bbl on 17 Feb to $71.55/bbl at the time of writing on 24 Feb. After breaking above the critical $70/bbl resistance handle, immediate resistance has now shifted to $72/bbl, which has seen some consolidation this week.

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