Technicals - oil price - potential to generate a sell signal

Angela Mangan

The Brent price 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. The potential has now emerged for a new technical sell signal to be generated. A NY close below US$43.60 is required, which if this occurs, would target a pullback to US$40.20. The WTI oil price also has the potential to generate a technical sell signal - a close below US$42.20 is required, which in that scenario would target a pullback to US$39.30.


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