Market Overview

Technical Forecast for Brent Crude

Technical Forecast for Brent Crude


Brent Crude held below 105.31 & hit profit taking as expected to hit our 103.85/75 target. As predicted this did hold the downside where we advised profit taking on shorts, but a break lower today should see 103.25 & possibly good support at 102.70/50. Exit shorts & try longs here with stops below 102.00.
If we push back above 103.85 we could try for resistance at 104.35 & a possible selling opportunity but shorts need stops above 104.60 for a retest of 105.30.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Commodities Markets Trading Ideas


Related Articles

View Comments and Join the Discussion!