Current Price Target Levels for Brent are quite interesting..oil took a hit yesterday and crashed quite a bit. On a daily chart level has come back to its bottom again interms of retracement. Mass consensus would have been to rally oil further upwards. For now has retraced back in a double bottom mode since last evening.
Brent hit a high of $76.74 and came crashing. For now it reads $75.48. If things are in favour you may consider the following levels upwards today - 75.52 - 75.74-75.86- 76.10.
On the flip side these are the expected levels 75.39-74.72-74.45. Keep in mind +/- 10 ticks as the squeezes and wics.
Meanwhile Construction, Manufacturing and Vehicle Sales will play a major role in deciding the roller coaster rides been experienced since last week. Though Consumer Confidence data yesterday was a bit of a booster but something kept oil hanging for long.
Happy Trading till then !
Disclaimer - These views are personal and may not be considered as assured targets or levels. Do not hold me responsible for any losses. In case of profits a small thank you or appreciation would be highly appreciated.
No comments:
Post a Comment