Brent Crude lost over $3 on Tuesday taking out 6 days of gains and recovered the whole lot yesterday. No point in trying to guess direction today but support levels are seen at 102.40/30 then 102.00. However any longs need stops below 101.65 for 101.30/25. If this does not hold the downside look for 100.80/75. Any further losses risks a retest of of this week's low at 100.40/20.
Above 102.50 is more positive and targets 102.85 then a retest of yesterday's high at 103.13. A break higher today should then target strong resistance at the 2 week high of 103.30/40. Try shorts with stops above 103.75. Go with a break higher to target 104.20/30 then 104.65/70.