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Forex Flash: Brent Crude to see downside next week – Nomura

By FXstreet.com,  January 04, 2013, 11:16:00 AM EDT

FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at Brent Crude from a purely technical perspective.

Amen gives a target of 109.50, where the 55D SMA lies, for the week. Looking at a daily chart he notes that RSI (14) has ticked lower from a high, suggesting a short-term high has been reached and spot is likely to react lower from here. Also he comments that spot has fallen from the upper Bollinger band. Bandwidth remains very low.




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, Forex and Currencies

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