Upwardly mobile Brent crude extends gains by $2.76; closes session 3.81% higher

Friday at a glance: with a daily low of $72.41, Brent crude closed Friday at $75.26 per barrel, after ending Thursday at $72.5 and gaining $2.76 (3.81%).

Technical chart analysis shows Brent Crude Oil is $1.28 away from testing key resistance at $76.54. Peaking above this level could inspire market bulls and open the path to further gains. With regards to technical trend indicators, chart analysis show that Brent crude oil made an initial breakout above its 3 day Simple Moving Average at $75.56, a potential indicator of a newly emerging bullish phase.

Overall, while Brent crude oil has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

A look at other Energy also shows upside as Crude Oil is trading around $71.32 after ending Friday's session at $68.56 (up 4.03% today). Heating Oil is trading around $2.33 after ending Friday's session at $2.24 (up 3.85% today).

Other Energy showed mixed performance as Natural Gas moves 0.57% Friday and closed at $2.1.

Brent crude oil is now trading 41.34% below the significant high of $123.6 it set around 10 months ago.