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Oil's 6% rally largest since Feb - BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Analysts at Brown Brothers Harriman noted that May crude oil peaked on March 18 near $42.50. It fell to $35.25 on April 5.

    Key Quotes:

    "The rebound to $39.85 before the weekend completed a 61.8% retracement of the decline.

    The 6% rally before the weekend was the largest advance since February. The technical indicators suggest there is potential to return to the $42.50 high and possibly toward $44.00-$45.00."
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