Technical & Fundamental Oil Reports Specialists

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More downside pressure – Watch the s/t MAs

Published Wednesday, March 5th, 2014

The contracts are pretty much back to where they were before the Ukrainian crisis. All contracts, bar WTI, are below the short term MAs, and these will be key resistance today. The stochastics are negative and in some cases displaying bearish divergence. There is a very real chance that the down trend will kick in again – further closes today below the s/t MAs would be the signal for this. In the meantime, the s/t MAs are important resistance that need to hold or the contracts will become even more volatile as the bulls and bears fight it out around them.

To read the rest of the report, please click here 

Posted by Robin Bieber