Brent Crude still undecided

Brent crude is still hesitant about joining Light (WTI) crude in a primary down-trend. After breaking through support at $105/barrel, the stock market bounce fueled a rally to test the new resistance level. The hourly chart is currently whipsawing around $105 without clear direction. Follow-through above $107 would warn of a bear trap, but target for the breakout is $90*.

Brent Crude and Light (WTI) Crude Oil

* Target calculation: 105 – ( 120 – 105 ) = 90

2 Replies to “Brent Crude still undecided”

  1. Would love to see a gold to silver ratio chart on a regular basis.
    thank you for your great coverage

  2. Greetings,
    Your new format is short, simple, to the point, and relevant to daily & weekly activities,
    what more could anyone ask for……unless they’re paying for it!!!

    yours etc

    Bruce Bennett

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