Brent Crude intraday technical analysis
Brent Crude has collapsed & testing huge support from a 4 year trend line at 100.84. We are over sold of course so we need to watch this level carefully. Further support down to 100.21 so if we bounce within this band the 4 year up trend is still in tact. However a break lower today is likely to trigger longer term stops and send the market in to another spin targeting 99.60/30 then 98.50. Below here look for 97.90/70. If we can hold 100.84 look for 102.16 then 102.98. Any continued strength runs in to 103.42/62 where we should top out today. Stops on shorts needed above 104.00.
Daily Technical forecasts US, Europe & Asia
Equity Index, Commodities, Forex & Fixed Income
The comment in this blog is the personal opinion of the contributors and not InterTrader.com. The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. InterTrader.com is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.