16 Jan 2015
Oil might move lower to test sub $45 levels – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy Team anticipates WTI and Brent to head lower to test $42 and $44 levels respectively.
Key Quotes
“Nymex WTI and Brent Crude gained on the contract rollovers and reached the front-month contract resistances at $52, however it has since then given up all its gains on record volumes. We are likely to see both WTI and Brent moving lower to test $42 and $44 respectively. The present lows of $45 on WTI is critical trend decider for this market.”
Key Quotes
“Nymex WTI and Brent Crude gained on the contract rollovers and reached the front-month contract resistances at $52, however it has since then given up all its gains on record volumes. We are likely to see both WTI and Brent moving lower to test $42 and $44 respectively. The present lows of $45 on WTI is critical trend decider for this market.”