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Brent crude could break technical support if OPEC increases production

Shared By Stock Fanatic on Friday, June 22, 2018 | 22.6.18

OPEC meeting today could see production increase ranging from 300k to 600k bpd, which is negative for oil price ceteris paribus.

Technical view on Brent crude: Pullback from USD80 testing support at USD70.5 to USD72pbl. If USD70.5 fails to hold, next 2 lower levels are c.USD66.6 and USD65.5.

Technical Analysis for Sembcorp Marine
Daily Chart
SembCorp Marine is most sensitive among rig builders to changes in oil price - past 2 session’s minor rebound found resistance at $2.02. Near-term downside risk to $1.85, view invalid if stock rises above $2.03.

Source : DBS Group Research

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Posted on Friday, June 22, 2018 | 22.6.18
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