Steve Miley is - The Market Chartist

Financial Market Technical Chart Blogs from Steve Miley - The Market Chartist

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

Brent Crude Future (ICE) Signals Bullish Shift

Posted by on in Commodity Chart Updates
  • Font size: Larger Smaller
  • Hits: 939
  • 0 Comments
  • Print
Brent Crude Future (ICE) Signals Bullish Shift

A surge higher Wednesday through the 60.65 level on the June contract to signal a a better base again and a more bullish shift from the range environment.

Given the acceleration, we see a consolidation bias Thursday, but bull pressures into April.

For Today: We see a neutral tone between 62.21 and 63.47 (with a positive bias)

Break above 63.47 aims for 64.21/42, which we would look to try to cap.

Break below 62.21 aims for 61.00, maybe 60.23, which we would look to try to hold.

Short/ Intermediate-term Outlook - Upside Risks:

We now see a more positive tone with the bullish threat to 64.21/42.

Above here targets 66.15 and 70.00.

What Changes This? Below 56.61 eases bull risks; through 55.12 signals a neutral tone, only shifting negative below 53.63.

Momentum: The 8-day RSI, short-term momentum is rising and has scope to go still higher this week.

To view today's full Brent Crude Oil report with screencasts, click here
Remember, for a FREE trial of all our Commodity and other reports sign up by clicking here

Daily ICE Brent Crude Oil Future Chart (June 2015 contract)

b2ap3_thumbnail_brent1_20150416-053655_1.png

 

Last modified on
Rate this blog entry:
0

Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.


He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).


Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.

Comments

Affiliates

  • affiliatelogos.png

    affiliatelogos.png

    http://www.marketchartist.com/images/ju_cached_images/affiliatelogos_0dd0698129febe7a7f50dd2279878ab6_90x50.resized.png

Clients

  • users1.png
    http://www.marketchartist.com/images/ju_cached_images/users1_00e523e7fd03fae1d0fb6c1d94bca6bd_90x50.resized.png
  • users2.png
    http://www.marketchartist.com/images/ju_cached_images/users2_e7bcf72e027318698507bc6d5c761f46_90x50.resized.png
  • users3.png
    http://www.marketchartist.com/images/ju_cached_images/users3_9afdb4dd4719675b88b5a560258e415d_90x50.resized.png
  • users4.png
    http://www.marketchartist.com/images/ju_cached_images/users4_979d06a8228e7e19e3d1617d94264ddb_90x50.resized.png

IMPORTANT NOTES

Holiday and cessation of service: 7th-23rd August 2017

Hi Market Chartist Users and Trialists, The Market Chartist reports will be paused for just over 2 weeks, whilst we take a vacation.

The last report will be on Friday 4th August, with service resuming on Thursday 24th August.We wish you successful trading in our absence