Break outs categorised by two things 1. big increase in volume -...

Break outs categorised by two things
1. big increase in volume - tick
2. Break out from previous resistance / little tick

if it can move and close above 14 we are in break out territory with upside until next resistance which is in 20s

interestingly flattening ( reducing ) backwardation of futures curve may prompt some analysis to increase their oil price assumptions which sit at 85-95 for most analysts. Add the higher assumed AUD on most analysts projections , and Brent projections are about 25-30 aud lower per barrel than reality, which is a big difference for HZN given medium term production profile