A medium-term bullish reversal pattern for Brent Crude may be confirmed at the end of this week (15 September), according to Andy Dodd, Head of Technical Research at Louis Capital Markets.
Dodd says that if Brent can close above the neckline of a potential inverse head-and-shoulders pattern, on the weekly chart, the bullish pattern will be confirmed (see Chart).
His other weekly comments on futures markets include:
SXXP & SX5E: In short-term downtrends
DAX: Testing key resistance short-term
US 10 Yield: Downtrend intact
Dollar Index: Support failure at 92.63
EURUSD: Bullish break above 1.19
GBPUSD: In downtrend but bullish short-term
Gold: Breakout confirmed
Copper: Rally stalling but support below
Read the full report.