Technical & Fundamental Oil Reports Specialists

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Vulnerable and fragile. Lower.

Published Monday, June 29th, 2015

Friday’s action and closes were not good and four of the five contracts now have targets lower on Brent to 61.62; Aug’ Heat to 183.11; Aug’ RBOB to 199.59; and Gasoil to 562.00. Run shorts to here. WTI has to move and close (m/c) below the 55 day MA at 58.79 to green light an objective lower to 57.63 (100 day MA). All contracts are below the short term (s/t) MAs and the stochastics are negative – in short the key technical indicators are pointing south. WTI has not got a target lower whilst it holds over the 55 day MA at 58.79. A m/c below here would activate a leg down firstly to the c/p at 58.23 then the 100 day MA at 57.63. A m/c below the latter would green light the next move lower to 56.42.

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Posted by Robin Bieber