Technicals - Brent (US$42.20) - major support now located at US$40.20

Angela Mangan

QMG Pty Ltd

The Brent price originally generated a technical buy signal at US$34.68 on 22/2/16. A technical sell signal was subsequently generated at US$46.48 on 7/7/16(VIEW LINK), with the WTI oil price simultaneously generating a technical sell signal at US$45.18. The oil price has declined by 10% since the technical sell signals were activated. The technical outlook remains negative given there is no sign of base forming emerging. Although there has not been a further technical sell signal generated, major subsequent support is now located at US$40.20 (Brent) and at US$37.80 (WTI).

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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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