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.
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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