Brent Crude Oil has finally seen a concerted move higher. Economists at Credit Suisse analyze the technical outlook.
Trend can remain seen sideways whilst $87.49/$89.37 caps
Whilst capped at $87.49/$89.37, the core trend can remain seen sideways, with a break of support at $83.32/$82.36 seen needed to add weight to this view to mark a top at the upper end of this range.
A weekly close above $89.37 would see an important base established to suggest the core trend has turned bullish. We would then see resistance initially at the 38.2% retracement of the 2022/2023 downtrend at $96.48. Whilst we would look for this to cap at first, the ‘measured objective’ from the base would be seen set significantly higher and we would thus be alert to a break in due course for resistance next at $99.56, then the 50% retracement at $104.63.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
