Oil: Recovery in prices – BBH

Sandeep Kanihama FXStreet Contributor

Analysts at BBH point out that after falling more than 10% in the previous two weeks, April crude recovered 4.3% last week.

Key Quotes

“It initially retested the previous week's low near $58 a barrel and climbed to almost $62.00 before the weekend. It stalled near the 50% retracement of the decline since the start of the month. The 61.8% retracement and the 20-day moving average comes in a little below $63.00. The Slow Stochastic is turning higher and the MACDs are poised to do so in the coming days.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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