The WTI oil price closed above key resistance located at US$51.89 last night, which flags the potential for a further upward move, and was the requirement to generate a technical buy signal. Major subsequent resistance / the upside technical price target is located at US$56.50. This follows on from the technical buy signal generated by Brent on 2/12/16, with the upside target located at US$60.00. These upside targets are the minimum expectation for a rally.
Angela has 30 years experience in the technical analysis field. Angela joined QMG as a technical analyst in May 2014. Angela was the technical analyst at Bell Potter for 16 years, providing technical analysis coverage to the retail and wholesale...
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