Technicals - Brent Crude buy signal generated
QMG Pty Ltd
The overnight rally has resulted in Brent crude completing an upward reversal / closing above key resistance, thereby generating a technical buy signal. The technical outlook has turned positive.The minimum upside technical price target is located at US$38.90 - the minimum expectation for a rally. As detailed in recent Wires(VIEW LINK), the stock technicals have led the related commodity given oil stock buy signals had been generated prior to the (brent) oil price.
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.