Brent

Today the Brent validates a bullish breakout from a rectangle pattern above an important resistance.
On the daily chart the first target according to fibonacci extension is above 86 and the next one around 94$.

On the weekly chart, according to the Elliott wave theory, we are now in the beginning of wave 3, which is usually the largest and most powerful wave.
If we copy exactly (amplitude and rate of ascent) the last upward movement of the preceding wave 3, we arrive at a target of 150$ for February 2009!
This corresponds to the higher uptrend-line of the long term rising bull channel.