Technicals - Brent crude - new technical buy signal generated

Angela Mangan

QMG Pty Ltd

Brent crude originally generated a technical buy signal at US$34.68 on 22/2/16 (at that point the technicals turned positive). This was followed by a secondary technical buy signal generated at US$42.78 on 11/4/16. The rally last night has resulted in Brent completing a further upward reversal / closing above resistance, which has generated a third technical buy signal. The expectation is for a further rally to occur from current levels. The upside technical target / major resistance is located at US$54.


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Angela Mangan
Angela Mangan
Technical Analyst
QMG Pty Ltd

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.

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