Daily Forecast - 13 February 2014
Brent Crude March contract
Brent Crude holding Monday's range of 108.40-109.75. A break below 108.25 meets the 200 day moving average just below at 107.95 but below here keeps the market under pressure for 107.62/57. If we fall as far as 107.20/15, use this as a short term buying opportunity.
Immediate resistance at 109.15/25 then 109.75 recent highs. Getting overbought so a high for the day likely again. However on a break higher we run in to very strong Fibonacci resistance at 109.95/110.
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