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1 Apr 2015
Gains in Brent could be capped by $65.00 – RBS
FXStreet (Edinburgh) - In the view of Dmytro Bondar, Senior Technical Analyst at RBS, bullish attempts in the Brent crude could find strong resistance around $65.00.
Key Quotes
“The price has finally broken below the flag support line, as 10/3/3 stochastics started to turn bearish, confirming our overall view for further decline in oil as well as the near-term bearish risks”.
“The range of $50 – $64 is still in place, but may be challenged soon by s test of its support level”.
“Long term, I believe that spikes will remain capped by $65 and the price will re-test the $45/42 support”.
Key Quotes
“The price has finally broken below the flag support line, as 10/3/3 stochastics started to turn bearish, confirming our overall view for further decline in oil as well as the near-term bearish risks”.
“The range of $50 – $64 is still in place, but may be challenged soon by s test of its support level”.
“Long term, I believe that spikes will remain capped by $65 and the price will re-test the $45/42 support”.