Technical Comments

Oil goes to 104

Oil goes to 104

After breaking down below key support at 105.92, the next target for Oil is 104.50. First resistance is now 105.92, and if this level holds firm in the near term, it may well fall to the 104.50 support. (MT)

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Oil goes down

Oil goes down

Having failed to pass the 107.43 resistance, Oil looks as if it will retrace and test support at 106.68. A successful breakdown at 106.68 places 105.87 as the immediate target, but if it holds here it will likely bounce back to resistance at 107.05. (MT)

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Oil goes to 108

Oil goes to 108

There is a potential breakout scenario developing on the H1 chart of Oil. We are looking for a move above the 107.71 resistance, which should see it continue on to 108.39 with initial support at 106.64. (MT)

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Oil wants to 103

Oil wants to 103

After breaking down below key support at 105.69, the next target for Oil is 103.92. First resistance is now 107.87, and if this level holds firm in the near term, it may well fall to the 105.69 support. (MT)

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Oil goes to 105

Oil goes to 105

Oil has been caught within a narrow range for a while now, but on the H1 chart we see a bearish formation developing, with a breakdown below support at 106.73 likely to see it come off to or very near 105.69. Initial resistant is now 107.75. (MT)

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Oils wants to 106.13

Oils wants to 106.13

There is a potential breakdown scenario developing on the H1 chart of Oil. We are looking for a move below the 106.53 support, which should see it continue on to 106.13 and first resistance is 107.18. (MT)

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Oil goes to 107

Oil goes to 107

There is a potential breakout scenario developing on the H1 chart of OIL. We are looking for a move above the 106.69 resistance, which should see it continue on to 107.38 with initial support at 105.85. (MT)

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Oil wants to 108

Oil wants to 108

After successfully breaking above key resistance at 107.17, the next target for Oil is 108.19. First support is 107.17, and if this level holds in the near term, it may well rally to the 108.19 resistance. (MT)

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Oil goes to 108

Oil goes to 108

There is a potential breakout scenario developing on the H1 chart of OIL. We are looking for a move above the 107.35 resistance, which should see it continue on to 108.20 with initial support at 106.52. (MT)

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Oil wants to 107

Oil wants to 107

Having held below the 104.52 support, Oil looks as if it will rebound and test resistance at 106.21. A successful break at 106.21 places 107.31 as the immediate target, and a failure to pass will likely see it fall back to initial support at 104.52. (MT)

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