FinancialMarkets Brent Crude Oil Technical Analysis - 1 Mar 2024
Oil has been moving sideways for few weeks presenting small short term sell opportunities.
Brent Crude Oil Technical Analysis
SHORT Case
Oil has been moving sideways for few weeks presenting small short term sell opportunities. Whilst we wait for Brent to reach $85-86 region, we can see a short term push down to $80.
LONG Case
Better to stay on the buy side of brent crude until around $84-$86 where we might get sell opportunities.
Now the near term outlook is in line with the longer term outlook, we’re expecting a dramatic upward move in
the medium term, heading back towards $100 levels. We expect any sell off in oil to be a buying opportunity for the longer term.
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Oil
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