Keep a watch on the WTI oil price and oil sector of the market, as oil is holding above key technical support @US$91.26 by only a very a small margin
QMG Pty Ltd
Keep a watch on the WTI oil price and oil sector of the market, as oil is holding above key technical support @US$91.26 by only a very a small margin. Failure to hold this level on a closing basis would signal the next significant downward move. The oil sector of the Australian market was previously identified as a negative technical sector theme, and remains so, due to the technical sell signals that had been generated by the key ASX oil stocks in a cluster over the last fortnight: WPL, STO, OSH.
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
Expertise
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.