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For the …
It was interesting stuff as the bulls had a look at the August high before turning tail and letting this drift back a level.
The high was exactly at 2849 (we had suggested thinking in terms of a 2842 – 2849 resistance region after the 2842 high on Wednesday).
Stochastics have reached the overbought region and we’re glad to stay …
A few days back we said: “Dips are being bought, the bulls are in charge, and we’re not going to be caught batting against such a solid trend. Oh no!”
The market is in a rampant mood now, and put on stellar gains yesterday, trading up to then through my 1340 target (we’ve been talking about this …
We’ve been asking 1131.50 to do a job as support and in the main it’s obliged.
The couple of times we haven’t held this level, yesterday being one, we’ve got down to 1127 before bouncing neatly.
We get the hint. We’ll be bulls above 1127, moving our green SkewBar area down to here.
But the market has been going sideways …
Here at Futures Techs we cover, on a daily basis, Brent Crude Oil, GasOil, NYMEX WTI (AKA Light Sweet Crude), Natural Gas and Carbon Emissions. Below is today’s comment and levels for Brent Crude, where we’ve seen a good move in recent sessions.
A bullish breakout on Wednesday was backed up beautifully by another strong session yesterday as we traded …