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Technical Breaks Also Feeding Into The Move In Oil

OIL

Also note that there may be an element of technical-related weakness when it comes to the move lower in crude futures.

  • For Brent, the break below the 50-day EMA exposes the support zone formed by the May 19 & 20 lows. While for WTI, the move through key short-term support in the form of the Jun 17 low switches focus to key support in the form of the May 19 low.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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