Technical & Fundamental Oil Reports Specialists

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Targets lower. Run shorts to these objectives. Sell rallies to the 5 day MAs.

Published Wednesday, March 18th, 2015

The trend remains down – stick with. There are targets lower on May WTI to 44.38; Brent to 52.25; Heat to 154.80; and RBOB to 168.47. Gasoil closed just over the previous target to 508.75 and whilst above has its target lower to 458.75 on hold. These objectives are valid whilst below the previous target level or the 5 day MAs – identified contract by contract later in this report. Run shorts to the targets. The contracts started the day yesterday a bit too far below the 5 day MAs, which were some way above. This gap has now narrowed to more tenable levels as the 5 day is plunging at a rate of just under a dollar a day. Both the 5 and the 8 day MAs are now not too far above the action and both are sells on rallies.

to read the rest of the report, please click here

Posted by Robin Bieber