Technicals - Oil price technical sell signal generated
Angela Mangan
QMG Pty Ltd
The Brent price originally generated a technical buy signal at US$34.68 on 22/2/16. The decline overnight has resulted in Brent completing a technical top formation / closing below key support thereby generating a technical sell signal. The technical outlook has turned negative (which is the first trend change in the oil price since February). The minimum downside technical target is located at US$43.50 - the minimum expectation for a pullback. The WTI oil price has similarly generated a technical sell signal last night.
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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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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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