Brent Crude is headed for a test of medium-term support at $115/barrel. Respect would confirm the strong primary up-trend; strengthened if 63-day Twiggs Momentum forms a trough above the zero line. Breakout above $126 would offer a target of $150/barrel*.
* Target calculation: 125 + ( 125 – 100 ) = 150
The broader CRB Commodities Index broke its long-term rising trendline and is headed for a test of primary support at 295 . Failure would signal a decline to 265*. The 63-day Twiggs Momentum peak below the zero line already indicates continuation of the primary down-trend.
* Target calculation: 295 – ( 325 – 295 ) = 265
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.
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