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Brent Crude: Tumbled To 107.86

Published 04/29/2014, 06:18 AM
Updated 07/09/2023, 06:31 AM
LCO
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Brent Crude Weekly Chart

Brent Crude broke 109.10/00 and tumbled to 107.86. Below 108.20/10 keeps the market under pressure for a move towards 107.30/20. We should start to look oversold short term so a bounce from here very possible but longs need stops below 107.00. Exit longs and try shorts on a break lower for a target of 106.60/50.

Resistance at 108.50/60 then 108.90/109.00 could hold a move higher today. Exit longs and try shorts with stops above 109.25 for a selling opportunity at 109.50/60.

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