Societe Generale sees Fed raising rates three times through March

Societe Generale analysts observe Brent's price holding above important moving averages near $85/84, maintaining upward momentum amidst geopolitical tensions and rising energy prices fueling a wider bond decline. They emphasize a crucial resistance level at $95 and anticipate a potential breakthrough could pave the way for the July peak of $102 and forecasts around $108/110.

Brent has persistently remained above the intersection of the 50-Day Moving Average and 200-Day Moving Average at $85/84, indicating strong upward momentum. The asset is currently confronting a multi-month downward trend line. The recent peak of $95, signifying a downward gap, serves as an interim challenge. Defending the support near $85/84 could facilitate the continuation of the uptrend.

Should Brent surpass $95, a broader uptrend might materialize towards the July high of $102 and expectations of $108/110.