Oil headed for $40 again? – BBH

By FXStreet FXStreet (Guatemala) – Analysts at BBH noted that Oil prices have broken down and are now at their lowest level since late-August.

Key Quotes:

“The only element of caution from the technical condition is that the January light sweet contract is through the lower Bollinger Band (~$43.65). Still, outside of a near-term technical bounce a retest on the $40 level is likely. Initial resistance is pegged near $42.80.”
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Source:: FX Street