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Saturday, March 23, 2013

Brent:WTIC Ratio Hinting of Further Weakness in Europe

Friday's drop below major support on the following Brent:WTIC Daily ratio chart may be signalling further woes to come out of Europe.

Keep an eye on the RSI, MACD, and Stochastics indicators, which are diverging at the moment, but which have yet to hook up on confirming price pattern.


The next Daily chart shows that Brent is approaching major support at 105.00. A drop and hold below this level may confirm such Euro-weakness.