Forex Course Brent Crude Oil
BRENT CRUDE OIL is finally back into the key support level of 62.30. Price is starting to find some support here and we are expecting the market to see some relief here with a push back into the resistance of 70.40. Quotes of Brent crude oil have been going down for five weeks in a row. Today, the instrument is consolidating in a narrow price range as part of a downward correction.
Brent Crude Oil Price
Current trend Oil price is decreasing duet to statistics from the US Department of Energy on record stocks of published in the middle of this month. In addition, the growth momentum caused by the OPEC+ Producing Reduction Agreement has dried up. The demand for energy remains at the same level, while the supply increases. For a month and a half, the price has lost more than 20 points, which no longer seems to be a corrective movement after a long-term growth.
At the same time, the dollar does not receive significant support, which means that its course does not particularly affect the price of “black gold”. Today, the US Department of Energy will publish a report on changes in oil reserves. Support and resistance In the medium term, a reversal into sideways broad consolidation is projected. From current levels, the price may rise to the levels of 68.30, 69.70. In the longer term, the upward trend may recover and regain the current fall in a few months if the price consolidates above the level of 68.30. Technical indicators give a sell signal, the volume of short MACD positions has increased significantly, Bollinger bands are directed downwards.
Resistance levels: 64.50, 66.00, 68.30, 69.70, 70.50, 73.50, 77.95. Support levels: 63.00, 61.70, 60.30, 59.10, 57.50.
Trading tips It is relevant to open long positions from the current level with the targets at 68.30, 69.70 and stop loss 61.20. Recent posts: • Nov 21, 2018 8:29:54 AM Today, the instrument has slightly strengthened against the background of the growth of the Australian index of leading economic indicators. • Nov 20, 2018 1:02:54 PM After a significant decline from the beginning of April to mid-August, the gold price is trading within an upward correction. During the autumn months, it has recovered b. • Nov 20, 2018 10:51:22 AM Yesterday, the NZD/USD pair fell due to US-China disagreements.
During the last APEC summit in Papua New Guinea, Mike Pence said that the US could double the duties on Ch. Risk Warning: Trading on financial markets carries risks.
Forex Course Brent Crude Oil Reviews
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Brent Crude Oil Price Today
Hi mate i specialise in trading Crude Oil, and have been trading it extremely sucessfully since 2008. Heres the contents of thread i published on a different forum providing a very very effective and profitable stratergy for traders who are currently struggling- The method is called 'Drop-Lock-Engage'. You DROP your head down at all times to look at the chart. (So no looking out the window or at porn sites as theres then risk that you will miss the opportunity) 2. When you see the market is spiking up very steeply and far 1direction (this can be 4-5% in 1day / 9-10% over 2days or even longer timeframe as long as theres been no reveral or pullback). You LOCK your eyes onto that line and follow it up with your eyes as it keeps going up. (Once you have locked-onto it then the market is in danger and is trapped by you, since you now have it in your sight and are just waiting till its at its weakest before you attack it).