Market Overview

Technical Forecast for Brent Crude

Technical Forecast for Brent Crude


Brent Crude hit the target of 110.76 then failed just below 111.20 at 111. We have fallen back to the 109.60/55 target now & bottomed exactly here at this stage. This is quite good support & we could see a bounce from here but today’s outlook is still quite negative so any longs need stops below 109.10 for a test of the next support at 108.55/15. Exit shorts & try longs within this band expecting a low for the day with stops below 107.80.


We are overbought on the daily chart & short term we still look quite negative but if we hold good support at 109.55 look for 110.10/20 & we should struggle here. A high for the day is very possible but if we continue higher look for 110.60/70 before 111.00 highs for a selling opportunity.

The preceding 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


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