Technical & Fundamental Oil Reports Specialists

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Lower. Sell rallies.

Published Wednesday, October 15th, 2014

The down trend continues and maximum pain is in a southerly direction. Supports failed to hold across the board yesterday and as a result there are targets lower. The objectives lower are on WTI to 79.69, valid whilst below 83.34; Dec’ Brent to 82.30, valid whilst below 87.06; Heat to 224.76, valid whilst below 251.00; RBOB to 213.25, valid whilst below 220.80; and Gasoil to 729.00, valid whilst below 747.25. Targets lower were hit and closed below on the way down yesterday as support failed. These were to 83.34 WTI; 251.25 Heat; and 220.80 RBOB. The poor closes validated objectives lower – shorts should be run to these targets. It is not advised to be long. WTI hit and closed below its target to 83.34.

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Posted by Robin Bieber