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Brentoil

Crude Oil: The Price Reversal from SupportThe price bounced from 59.00 support zone. We got a bullish candle which confirmed the price reversal. The same goes about RSI, which gave us a bullish signal from the oversold zone. MACD histogram supports a possible upward movement. If we talk about the trading direction for this market, I would like to buy as the price dropped a lot, and a pullback looks logical. But we also should think about fundamental reasons which can push the market lower. If the price breaks the support zone and the local swing low,m it will be a new bearish signal. I'm not sure that it will be good for selling, but after a pullback to a downtrend line, SMAs, and reversal signals, why not? I recommend to add this market to your watchlist as it can provide interesting trade opportunities. Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
FX:UKOILLong
by DLavrov
4
USDBRO approaching support, potential for a bounce! USDBRO is expected to drop to 1st support at 60.28 where it could potentially react off and up to 1st resistance at 63.90. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone
USDBRO bounced from support, potential for a further rise! USDBRO bounced off 62.04 where it could potentially rise further to 64.30. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone
USDBRO reversed from resistance, potential drop! USDBRO reversed off its resistance at 65.62 where it could potentially drop further to 62.82. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROShort
by Pepperstone
USDBRO reversed from resistance, potential drop! USDBRO reversed off its resistance at 65.62 where it could potentially drop further to 62.82. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROShort
by Pepperstone
USDBRO reversed from resistance, potential drop! USDBRO reversed off its resistance at 65.50 where it could potentially drop further to 62.82. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROShort
by Pepperstone
USDBRO reversed from resistance, potential drop! USDBRO reversed off its resistance at 65.62 where it could potentially drop further to 62.82. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROShort
by Pepperstone
USDBRO reversed from resistance, potential drop! USDBRO reversed off its resistance at 64.35 where it could potentially drop further to 62.82. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROShort
by Pepperstone
USDBRO reversed from resistance, potential drop! USDBRO reversed off its resistance at 65.62 where it could potentially drop further to 62.82. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROShort
by Pepperstone
USDBRO approaching support, potential for a bounce! USDBRO is expected to drop to 1st support at 62.82 where it could potentially react off and up to 1st resistance at 65.62. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone
Middle East Force Will Bring More Oil Market SpeculatorsPrimeXBT will now be offering a technical and fundamental analysis overview of USD/BRO . Fundamental Analysis and News: Oil had its wildest day since the Saudi Arabia attacks last year. After spiking aggressively as news of Iran’s missile attack hit the news wires, oil gave back all of those gains to finish much lower on the day. Brent is very close to daily support regions. The news from the Energy Information Administration that U.S. crude supplies edged up by 1.2 million barrels for the week ended Jan. 3, hit prices hard as this had followed declines in each of the previous three weeks. Analysts had expected to report a drop of about 3.6 million barrels. Energy companies in the region may need to take on more debt if oil prices keep falling, said Rory Fyfe, chief economist at U.K.-based MENA Advisors. Benchmark Brent crude slid about 10% last year to an average of about $ 64 a barrel, and growth in oil demand shows signs of faltering. Access to cheap financing could also stimulate borrowing. “Gulf issuers are very opportunistic, and if we see lower global rates, we could see oil companies coming back to the market,” he said. Technical Analysis: In the near term, the price will likely target the support zone. Once its price reaches this zone, a rejection could cause it to rise until it reaches its first resistance zone, which could spark a bounce. A clear close above the key resistance zone could offer new entries for high-return gains in the near term. The next major hurdle is near the $75.5 level. Day's Range: $64.58 — 66.08 Support Zone: $59.8 — 62.5 Resistance Zone: $69.65 — 70.7 Resistance Target Levels: $75.50, 80.05, 86.05 Please, let us know what you think about USD/BRO in the comment section below. We appreciate the continued support that PrimeXBT has received from readers and traders like you, and hope you have great success with all your future trades!
FX_IDC:USDBRO
by UnknownUnicorn3931771
2