Technicals | Apr 27 2011
By Rudi Filapek-Vandyck
Crude oil prices remain in an upwards trending broader price channel and further gains should therefore be expected. Such is the message emanating from the technical trading desk at Barclays in London.
Technical market analysts at Barclays predict WTI futures remain poised to break through US$114.00/bbl toward US$115.35/70, while for Brent the focus remains on US$124.80, then 126.50, and then 129.00. The latter is the analysts' medium term target for Brent.
More ominously are the signals natural gas prices have put on display these past few days. Barclays now anticipates a correction, but one that ultimately should prove an excellent buying opportunity.
Technical limitations
If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.
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