Brent Crude Oil Feb Contract Forecast for 7th January by Daytradeideas.com

By International Business Times,  January 07, 2013, 02:47:19 PM EDT

Brent Crude looks ready for some profit taking with failure to get back above 111.43/53 likely to pressure prices down to 110.54/38. Failure here today then sets us up for further losses to a target of 109.80. Good chance of a bounce off this level today but if attempting longs here we need a stop below 109.50 for 109.05.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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