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.

Angela Mangan

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...


No areas of expertise

crude oil oil price ASX:BHP ASX:OSH ASX:STO ASX:WPL brent oil


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