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Brent Crude Oil Feb Contract - Forecast for 01/11 by Daytradeideas.com

Brent Crude did test last week's high at 112.90. We expected the market to struggle here and entered shorts with a stop above 113.30. This worked nicely as the market topped at 113.29 and we have now broken the one month uptrend this morning. Hold on to those shorts then as we look for continued weakness to 111.11 and quite possibly 110.76. There is a good chance of a low for the day within this band so worth taking profit on those shorts but any longs here need a stop below 110.54.

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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 Nasdaq, Inc.


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

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