Technicals - oil - further upside potential in Brent and WTI prices
Angela Mangan
QMG Pty Ltd
The WTI oil price closed above key resistance located at US$51.89 last night, which flags the potential for a further upward move, and was the requirement to generate a technical buy signal. Major subsequent resistance / the upside technical price target is located at US$56.50. This follows on from the technical buy signal generated by Brent on 2/12/16, with the upside target located at US$60.00. These upside targets are the minimum expectation for a rally.
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Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
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3 stocks mentioned
Angela Mangan
Technical Analyst
QMG Pty Ltd
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
Expertise
Angela Mangan
Technical Analyst
QMG Pty Ltd
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
Expertise
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