Brent FuturesBrent Last Day Financial FuturesNYMEX_DL:BZ1!TJ-001Brent crude futures saw sharp fluctuations in August before ultimately closing above their 200-day moving average. With the long-term trend firmly bullish, there is a high probability of further upside. Finally, it is worth noting other bullish drivers for “black gold”: (1) the ongoing military conflict in the Middle East and the closure of the Strait of Hormuz, and (2) global oil inventories remaining at multi-year lows. Long-term trend: Up Resistance level: $120 Support level: $70, $86