Brent

Supports broken and back to 47.50 support. Bounce or break? Need to watch strength of the dollar which is driving recent move




F4T

Testing rising support. MA20 & 50 holding this currently. Should these break we should see 47.50 fairly rapidly.
Resistance 54.40, 55.64 and the MA200 at 59.36 which I don't expect to be penetrated in the next 6 months.
I expect this to be range-bound 45 and 55 for the foreseeable future with a possible spike to 59 which should be sold into.











WTI looks a little stronger in that we had a higher high recently






F4T

Aye a double top. Looks pretty bearish short term then.

A double top it is then eh ?



www.dailyfx.com/crude-oil

could it be a double top formation?

www.dailyfx.com/crude-oil

Upside breakout from descending triangle / pennant stalled at trendline resistance yesterday.

This remains in 47.50 - 50 holding range but looks like it wants to break out to the upside.

Resistance 49.50
Support 47.50 & 43.70

F4T