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Brent Crude: Stable During Trading

Published 02/05/2014, 05:54 AM
Updated 07/09/2023, 06:31 AM

Brent Crude Weekly Chart

Brent Crude stable as we range trade from January lows at 105.44 up to our first resistance at 106.10/20. A break higher sees 106.55/65 where we should struggle but above is more positive and targets resistance at 106.90/00. If we make it as far as 107.25 use this as a selling opportunity.

Below 106.10/00 sees a retest of 105.44/40 and a low for the day possible again. If however this does not hold the downside we meet Fibonacci support at 105.15/10.

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