The increase in Brent Crude ⛽️Oil⛽️ prices due to the WAR🚀➕15%
Updated
😔Unfortunately, in recent days, there has been a war between Israel and Palestine, and I hope that this war will end as soon as possible.🙏🙏🙏
🧐Now, how can the effect of this war show itself in the oil chart❗️❓
💡At the same time, as geopolitical tensions increase throughout the Middle East, oil prices are likely to rise even more. Meanwhile, US Strategic Petroleum Reserves (SPR) are down to just 17 days, the lowest in history. This is almost half the historical average of 33 days dating back to 1990.
💡In addition, OPEC this week reaffirmed its commitment to voluntarily cut production to a ceiling of more than 1.5 million barrels per day.
💡In the days when Russian crude oil exports are limited, and the world's largest oil producers are also at war.
😱There's never been a worse time to have an unloaded SPR than today.
📈In terms of technical analysis, Brent Crude Oil is moving near the bottom of the ascending channel, 🟡Price Reversal Zone(PRZ)🟡 and SMA(100).
🔔I expect that starting next week, the trend of Brent Crude ⛽️Oil⛽️ will rise and at least reach the 🔴Resistance zone($100.48_$95.80)🔴 again(➕15%).
⛽️Brent Crude Oil⛽️Analyze (USDBRO), Daily time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
🧐Now, how can the effect of this war show itself in the oil chart❗️❓
💡At the same time, as geopolitical tensions increase throughout the Middle East, oil prices are likely to rise even more. Meanwhile, US Strategic Petroleum Reserves (SPR) are down to just 17 days, the lowest in history. This is almost half the historical average of 33 days dating back to 1990.
💡In addition, OPEC this week reaffirmed its commitment to voluntarily cut production to a ceiling of more than 1.5 million barrels per day.
💡In the days when Russian crude oil exports are limited, and the world's largest oil producers are also at war.
😱There's never been a worse time to have an unloaded SPR than today.
📈In terms of technical analysis, Brent Crude Oil is moving near the bottom of the ascending channel, 🟡Price Reversal Zone(PRZ)🟡 and SMA(100).
🔔I expect that starting next week, the trend of Brent Crude ⛽️Oil⛽️ will rise and at least reach the 🔴Resistance zone($100.48_$95.80)🔴 again(➕15%).
⛽️Brent Crude Oil⛽️Analyze (USDBRO), Daily time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Note
Oil opened with a price gap.Note
✅Running well✅Note
It seems that the gap type is a Breakaway gap.
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