Market Overview

Technical Forecast for Brent Crude

Technical Forecast for Brent Crude
Brent Crude broke 100.00/85 but held on to the next support at 99.50. Today we have support at 101.20/10 but below here look for 100.70/60 & then a retest of 99.85/65. A break lower today could target the 200 week moving average at 98.93. A low for the day is very possible here but longs need stops below 98.60.
102.00/10 is our first resistance but a break above yesterday’s high at 102.48 sees 102.80/85 & possibly a move towards 103.50/60. Exit longs & try shorts here with stops above 104.00.

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Posted-In: Technicals Commodities Markets Trading Ideas


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