Despite the volatility seen recently in Brent crude, Clive Lambert from FuturesTechs says that traders could look to get long on a dip in Brent.
Clive says that although there was a big sell off on Wednesday, buyers were found on Thursday, indicating a downside rejection.
He says look to buy April '15 Brent at around USD 59.70 with a stop below USD 58.70. Clive's targets are USD 63.00 and USD 67.00 although he says it may be a couple of weeks before those numbers are reached.
He warns, however, that due to the volatility, this is not for the faint-hearted.
Disclaimer
Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com.
