Strategists at Credit Suisse maintain a higher bias on Brent Crude Oil post the current consolidation as a break above $43.86 should head the black gold to the 200-day ma at $49.43. Key quotes “Brent Crude extends its near-term consolidation and maintains its base above the 38.2% retracement of the Q1 collapse at $37.28, establishing a base. Further consolidation should be allowed for below the 50% retracement of the Q1 fall at $43.86. “Above $43.86 in due course though should see resistance next at $45.18/50 and then more importantly at $49.43, where the 200-day average is hovering, which we expect to cap the market at least temporarily.” “Near-term support is seen at $37.18/35.37, the May/June price gap, with $33.62 now ideally holding further weakness. Only below $28.86 would see the base negated though.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY: Upward Momentum Improving; Tactically Bullish Towards 108.40 – UOB Kenny Fisher 2 years Strategists at Credit Suisse maintain a higher bias on Brent Crude Oil post the current consolidation as a break above $43.86 should head the black gold to the 200-day ma at $49.43. Key quotes “Brent Crude extends its near-term consolidation and maintains its base above the 38.2% retracement of the Q1 collapse at $37.28, establishing a base. Further consolidation should be allowed for below the 50% retracement of the Q1 fall at $43.86. “Above $43.86 in due course though should see resistance next at $45.18/50 and then more importantly at $49.43, where the 200-day average is hovering, which we expect… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
