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Oil headed for $40 again? - BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Analysts at BBH noted that Oil prices have broken down and are now at their lowest level since late-August.

    Key Quotes:

    "The only element of caution from the technical condition is that the January light sweet contract is through the lower Bollinger Band (~$43.65). Still, outside of a near-term technical bounce a retest on the $40 level is likely. Initial resistance is pegged near $42.80."
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