Vincent Wu
Research Associate, Flux
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Bearish Divergence
Brent bullish near $70; spreads eye $0.80. RBOB crack may ease to $23, E/W supported, barge steady ~-$9, gasoil weak near $23.
This past week, the M1 Brent futures saw better support and is trading in the high 60s, opening around $69/bbl on 10 Feb. Prices are attempting to fill the gap between 30 Jan and 02 Feb. On the upside, the gap and the $70/bbl psychological level offers dual resistance.
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About Technical Analysis Report
A weekly premium report comprising movements in price action across key swaps and futures contracts
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