Brent Crude oil Skyrockets Above 120.00

Brent Crude oil skyrocketed yesterday, hitting levels lastseen in February 2013. The advance broughtthe price temporarily above 120.00, and then wehad a small setback. Overall, the black liquid remains well above the upside support line drawn from the low of December 20th, and thus, we would consider the picture to be as bullish as it can get.