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

Angela Mangan

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.


Comments

Please sign in to comment on this wire.