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26 Feb 2015
Brent still capped by $62-$64 – RBS
FXStreet (Edinburgh) - The band of $62-$64 is still acting as a strong barrier for Brent-bulls, according to Dmytro Bondar, Technical Analyst at RBS.
Key Quotes
“The market keeps testing the $62/ 64 resistance region, which we believe will cap further spikes amid momentum and candlestick signals from daily charts showing this rebound to be limited with the 5-month moving average providing a trailing resistance”.
“We keep the view that it will return to the area of 45/42 support and break lower”.
Key Quotes
“The market keeps testing the $62/ 64 resistance region, which we believe will cap further spikes amid momentum and candlestick signals from daily charts showing this rebound to be limited with the 5-month moving average providing a trailing resistance”.
“We keep the view that it will return to the area of 45/42 support and break lower”.