Thursday, November 30, 2017

BRENT overview

BRENT: an overview

Current trend


Oil
Brent crude lost more than 70 pips during the trading session
on Monday. The fall has affected the collapse of the Chinese Shanghai Composite,
8.48%: the market is very sensitive to the weakening of the Chinese economy such as
the largest commodity importer. Also on the "black gold" price falls after
removal of restrictive sanctions with Iran, for fear of reduction in demand on the
hydrocarbons, and a generally positive US statistics has a positive
the impact on the dollar and increases the oil pressure.


But
Yet the main factor is the negative impact of a possible increase
interest rates the US Fed. The meeting will take place tomorrow, and in case of increase
interest rates, the price of a barrel of oil could update their lows.


levels of support and
resistance


On
4-hour graph line EMA10 EMA20 and are
above the current price, and directed downward, indicating that the downward movement
trend. Histogram MACD is in the negative area and is stepping up its
volume, which is also a sign of a downward price movement.


levels
Support: 52.69.


levels
Resistance: 53.66, 54.13, 54.53, 56.68, 58.69, 59.51.


trading recommendations


Couple
He strayed from a minimum of 52.69 and currently moves upward. In the short
period, it is recommended to open long positions from the current levels with the aim of
53.60 and stop loss at around 52.75.


Breakdown
level of 52.69 may be a signal for the opening short positions with the aim of 52.00 and
stop loss at around 53.00.



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