Technicals - oil - potential for Brent and WTI to generate sell signals

Angela Mangan

QMG Pty Ltd

The Brent price has the potential to generate a technical top formation / technical sell signal. The key support level to watch is located at US$53.57. A New York close below this level, if it occurs, would generate a technical sell signal. Major subsequent support / the minimum downside technical price target in that scenario would then be located at US$48.50. The WTI price also has the potential to generate a technical top formation / technical sell signal. A New York close below US$50.69 is required, which if it occurs, would target a pullback to US$45.90.


MORE ON



2 topics

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.

Expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.