Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Brent Crude : Be Ready To Go With A Break Lower To Target 8190/80

Published 10/28/2014, 02:27 AM
Updated 07/09/2023, 06:31 AM

Brent Crude Weekly Chart

Brent Crude going nowhere for the last 7 sessions. It appears we are trading sideways to allow the oversold conditions to unwind before the next leg lower in the bear trend. Immediate support at the low last week of 8440/12. We held just above here yesterday in fact, but a break lower today risks a slide to crucial support at 8380/70. Failure here then targets 8305/95. However any longs need stops below 8260. Be ready to go with a break lower to target 8190/80 then 8075 and 7986 in to next week.

We need to hold above 8510/15 for a chance to test resistance at 8665/75. A good chance of a high for the day but shorts need stops above 8725. Be ready to go with a break higher then to target 8785/95 for profit taking on longs.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.