Commentary

Add as a preferred source on Google

WTI range lows are vulnerable

BofA Merrill Lynch notes in a report on Wednesday: Since peaking on Feb-03 at 55.05 (basis CLJ5) WTI has fallen into a month long range. That range has been characterized by persistent lower highs. This makes the range l…

1 min read
EconoTimes — Reading the Times. Understanding the Future.

Read the original article

BofA Merrill Lynch notes in a report on Wednesday: 

  • Since peaking on Feb-03 at 55.05 (basis CLJ5) WTI has fallen into a month long range. That range has been characterized by persistent lower highs. 

  • This makes the range lows at 48.20/47.80 vulnerable to a downside break. Below here exposes long term trendline support at 46.28 ahead of the Jan-29 low at 44.37 and potentially beyond.  

Related articles

View all