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United States Brent Oil ETF Message Board

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  • Brent is Showing Signs of Turning Higher Again - Brent Crude Oil (BNO) has climbed off of its intraday-- and 8 session corrective-- low at $112.90 to $113.69 so far this morning.

    It is starting to look like Brent has ended its correction from $115.71 to $112.90, which if accurate, also suggests that a new upleg likely is in progress that should propel Brent to a new high above $115.71 towards $117.00 next.

  • Brent Crude Oil Continues to Climb - Although the e-SPU (SPY) remains confined within a sideways range and less responsive to the lift in Brent Oil (BNO) than I was expecting, I am thinking that the positive influence of an uber-easy Yellen Fed ahead of tomorrow's policy statement and press conference are trumping an otherwise significant up-spike in Oil.

    Brent is following a very bullish near-term price path that should propel it towards a minimum target of $115 in the upcoming hours.

    A sustained climb past $115 will get the attention of the equity markets-- FOMC Meeting or not.

BNO
39.551+0.521(+1.33%)12:32 PMEDT

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