13th Jun - Brent Crude Holds Below Key Resistance
13 June 2013
WEEKLY CHART – CONTINUATION:
The 2013 slip back has paused, as focus returns towards prior support in the area of the 89.58 May-10 high. Below here lower retracements would open up.
DAILY CHART – Jul-13:
Price has been consolidative for some while now following the earlier test of resistance from the underside of the old channel base. This, and the 106.10 22-Mar low, offers first key resistance – a break through here would at least temporarily sideline the bears and favour shorter term bulls.
First interesting support remains the 76.4% area, below which lower targets beckon. S/term we must wait to see which direction is taken.
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06th Jun - USD/CAD Pauses at Key Resistance