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Oil Price Falls Below $69Oil Price Falls Below Pre-Escalation Levels of Middle East Conflict According to the XBR/USD chart: → Prior to Israel’s airstrikes on Iran on 13 June, the price of Brent crude was hovering around the $69.00 mark; → Following US bombings in Iran, the price spiked at the Monday market open, reaching a high of approximately $77.77 (as we reported on 23 June). However, after President Trump announced a ceasefire between Iran and Israel — later confirmed by statements from both sides — oil prices dropped sharply. This morning, Brent is trading around $68, which is even lower than the level seen before the initial strikes. Media outlets report that analysts broadly agree that fears have eased, even if the ceasefire appears fragile. Market participants seem to view the likelihood of the conflict escalating into a full-scale ground war — involving US troops and the closure of the Strait of Hormuz — as low. Shipping through the strait is reportedly returning to normal. Technical Analysis of the XBR/USD Chart Interestingly, the $69 level — from which prices surged on 13 June — acted as resistance yesterday (as indicated by the arrow on the chart). It can be assumed that the longer the ceasefire holds, the less relevant the fears that have served as bullish drivers. In that case, Brent crude prices may continue fluctuating within a downward channel, outlined in red, with the possibility of a short-term rise toward its upper boundary. Nevertheless, the key drivers for oil prices will remain the fundamental backdrop and official statements regarding the situation in the Middle East and other geopolitical factors. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
Oil Price Surges at Monday Open Amid US Strikes on IranOil Price Surges at Monday Open Amid US Strikes on Iran As shown on the XBR/USD chart, the Brent crude oil price formed a bullish gap at the opening of financial markets this Monday, surpassing last week’s high. Only three days ago, we drew attention to Donald Trump’s statement that a decision regarding US involvement in the Iran-Israel conflict would be made within two weeks – yet over the weekend, US aircraft dropped bombs on Iran’s nuclear facilities. Now oil prices are likely to be affected by Iran’s potential move to block shipping traffic through the Strait of Hormuz. According to Reuters, analysts suggest that in such a scenario, the oil price could climb to $100. Technical Analysis of the XBR/USD Chart The ascending channel plotted last week remains valid. The fact that the price is pulling back (as indicated by the arrow) from the high set at the market open suggests the market had already priced in a significant risk of US involvement in the Iran-Israel military conflict. Key points: → Technical support in the near term may be provided by the area where the lower boundary of the blue channel intersects with the $76 level (which acted as resistance at the end of last week). → Ultimately, fundamental factors and official statements will play a decisive role in oil price movements. It’s worth noting that, following the strikes on its territory, Iran is threatening retaliation against the US. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
XBR/USD Chart Analysis: Oil Price Falls After Trump’s DecisionXBR/USD Chart Analysis: Oil Price Falls After Trump’s Decision As shown on the XBR/USD chart, the price of Brent crude oil has pulled back from yesterday’s 4.5-month high following a statement from the White House that President Donald Trump will make a decision within the next two weeks on whether the United States will take part in the Israel-Iran conflict. According to Reuters, the US President is facing backlash from some members of his team over the prospect of launching a strike against Iran, which could drag the US into yet another prolonged war. Technical Analysis of the XBR/USD Chart From a technical standpoint, Brent crude oil price is developing within an upward channel (marked in blue), though several bearish signals are appearing on the chart: → a bearish gap that formed overnight; → a false bullish breakout (indicated by an arrow) above the $76.50 level, drawn from the 13 June high; → bearish divergence on the RSI indicator; → a break of the recent local ascending trendline (marked in orange). Given the steep angle of the rising blue channel, it is reasonable to assume that bears may attempt to break through its lower boundary, which is currently acting as support. Whether this scenario materialises in the oil market will largely depend on developments in the Middle East. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
Israel Strikes Iran. Oil and Gold Prices SurgeIsrael Strikes Iran. Oil and Gold Prices Surge According to media reports, Israel launched a large-scale overnight strike on Iranian territory, targeting dozens of military and strategic facilities linked to the country’s nuclear programme and missile capabilities. Israeli officials justified the action by citing an existential threat from Tehran, which, according to their intelligence, is accelerating its development of nuclear weapons and expanding its arsenal of ballistic missiles. In response, Iran has vowed severe retaliation, stating that the United States and Israel will “pay a heavy price” for the attack. US President Donald Trump has urgently convened a meeting to assess the situation. Commodities Market Reaction In the wake of these developments, gold — the primary safe-haven asset — surged sharply. The XAU/USD price broke above its May high, rising past $3,440. However, the all-time high near $3,498 remains intact for now. Oil prices also spiked due to fears of supply disruption. The military conflict threatens shipping through the Strait of Hormuz, a crucial chokepoint through which one-fifth of the world’s oil supply passes. Traders quickly priced in the risk of war, anticipating a supply shortage driven by large-scale instability in the Middle East. Technical Analysis of the XBR/USD Chart Brent crude oil price has risen to the upper boundary of a large-scale descending channel (shown in red), which is defined by lower highs from 2024–2025. As anticipated, this upper boundary acted as resistance, with the price forming a peak above $76 before reversing downward (as illustrated by the black arrow). From a technical standpoint, following such a sharp rally, Brent is vulnerable to a corrective move. In this scenario, a pullback into the orange zone is possible, where support may be found at: → The psychologically important $70 level; → The 50% Fibonacci retracement level; → The former resistance of the purple descending trendline, now turned support. Nevertheless, given the scale of the geopolitical threat, it is unlikely that market sentiment will allow Brent to decline significantly in the near term. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
XBR/USD Chart Analysis: Brent Crude Reaches 1.5-Month HighXBR/USD Chart Analysis: Brent Crude Reaches 1.5-Month High In our analysis of Brent crude oil six days ago, we identified a large contracting triangle and a local ascending channel. We also outlined a potential scenario involving a bullish breakout above the upper boundary of the triangle. Although this was not the base-case scenario, the XBR/USD chart now suggests it has played out: yesterday, the price climbed to nearly $67 per barrel — its highest level since the end of April. The main bullish catalyst appears to be ongoing trade talks between the United States and China, which have raised hopes of a resolution to tariff-related tensions between the world’s two largest economies. At the same time, rising oil prices may exacerbate geopolitical tensions, particularly amid Israeli threats to strike ports in Yemen — a risk that could disrupt supply chains across the Middle East. Technical Analysis of the XBR/USD Chart From a technical perspective: → Brent crude continues to move within an ascending channel (marked in blue); → the upper boundary may now act as a support level. The fact that the price is holding in the upper half of the channel indicates strong demand-side pressure. Based on this, it is reasonable to assume that as long as Brent remains above the $65.75 level (the retest zone of the breakout), the technical outlook will remain predominantly bullish. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
XBR/USD Chart Analysis: Oil Price Rises to Key ResistanceXBR/USD Chart Analysis: Oil Price Rises to Key Resistance Yesterday, the price of Brent crude climbed above $65.60 — the highest level in over a week. According to media reports, several bullish factors are driving this move: → Stalled negotiations between the US and Iran over abandoning Iran’s nuclear programme in exchange for lifting oil export sanctions; → Wildfires in Canada, which have significantly reduced oil output; → Market reaction to the OPEC+ meeting held over the weekend; → A weakening US dollar. Technical Analysis of the XBR/USD Chart From a technical standpoint, Brent crude oil: → Has been forming a short-term ascending channel (marked in blue) since the beginning of the week; → Has approached a major resistance level. This resistance is defined by the upper boundary of a narrowing triangle, with its central axis around the $63.70 level — a price that could be considered a fair value based on trading over the past one and a half months. This situation points to two possible scenarios: → A downward reversal from the key resistance, with expectations that the price will return to the triangle’s central axis. A break below the lower boundary of the local blue channel would support this scenario. → An attempt at a bullish breakout of the triangle. While this scenario cannot be ruled out, it appears less likely due to the global economic slowdown risks posed by tariff-related trade barriers. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
Oil Prices Surge Amid Threat of Strike on IranOil Prices Surge Amid Threat of Strike on Iran As shown on today’s XBR/USD chart, Brent crude oil prices have jumped (as indicated by the arrow) to a one-week high. This surge follows U.S. intelligence reports suggesting that Israel may be preparing to strike Iran’s nuclear facilities. Although CNN, citing officials, noted that it remains unclear whether Israeli leaders have made a final decision, oil prices are rising as markets price in the risk of escalation disrupting Middle Eastern oil supply chains: → Iran is the third-largest oil producer within OPEC. → There is concern that Iran could retaliate by blocking the Strait of Hormuz in the Persian Gulf — a key shipping route used by Saudi Arabia, Kuwait, and others to export oil products. Technical Analysis of XBR/USD Brent crude oil price has climbed towards the descending trendline (marked in black), drawn through key highs from April and mid-May. From a bearish perspective, this key resistance could trigger a downward pullback. On the other hand, recent price action in Brent suggests upward momentum (indicated by blue lines), with the $65.20 level — previously a cap — potentially turning into support after a breakout. Whether the black resistance line is broken will largely depend on geopolitical developments. It is possible that reports of an imminent missile strike on Iran may later be refuted. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
XBRUSD Brent Oil Loot: Ride the Bullish Breakout Wave!🌎 Yo, Treasure Hunters! Aloha! Hola! Grüß dich! 🌟 Profit Plunderers, ready to strike? 🤑💸⚡ Forged with 🔥Outlaw Oracle tactics🔥 (technical + fundamental), here’s our slick plot to loot the "XBRUSD / Brent Oil" Energy Market. Stick to the chart’s path for a long entry, eyeing an exit near the risky YELLOW MA Zone. Beware—overbought vibes, consolidation, or a trend switch could snare you where bearish rogues prowl! 🏴‍☠️💰 "Grab your gains and party, traders—you’ve nailed it! 🎉💪" Entry 📈: "The safe’s cracking! Watch for the MA breakout (67.50), then pounce—bullish bounty awaits!" Hot tip: Place buy stop orders above the Moving Average or set buy limit orders at the recent 15/30-min swing low/high for pullback plays. 📢 Pop an "alert" on your chart to seize the breakout! Stop Loss 🛑: "📣 Oi, listen up! 🗣️ If you’re jumping in with buy stop orders, don’t set that stop loss ‘til the breakout ignites 🚀. Follow my pin 📍 or take a wild shot 😜—but don’t cry if it backfires! ⚠️" 📍 Outlaw SL parked at the recent 3H swing low (63.00) for swing trades. 📍 Tweak SL based on your risk, lot size, and order stack. Target 🎯: 72.50 or slip out before the goalpost. 🧲 Scalpers, heads up 👀: Play long-side scalps only. Deep pockets can dive in; smaller crews, tag along with swing traders for the heist. Use trailing SL to guard your stash 💰. 💸 UK Oil Spot / Brent Swing Trade Plot: Bullish fever 🐂 is roaring, sparked by key forces. ☝ 📰 Dig In: Scope out Fundamentals, Macro Signals, COT Reports, Seasonal Trends, Intermarket Clues, Inventory Stats, and Future Targets 👉🔗 ⚠️ Trading Alert: News & Position Savvy 🗞️ 🚨 News bombs can rattle prices and volatility. To lock in your loot: - Dodge new trades during news drops. - Slide trailing stops to pocket profits. 💖 Power our raid! 💥Smash the Boost Button💥 to supercharge our profit grab. Roll with the Outlaw Trading Posse, raking in wins daily with swagger! 🏆🤝🎉 Catch you at the next heist—stay locked in! 🤑🐱‍👤🚀 --- ### Real-Time Data (UTC+1, May 14, 2025) 📊 **Brent Oil (XBRUSD)**: - **Price**: ~$67.20 (based on latest market feeds). - **MA Breakout Level**: ~$67.50 (as per strategy). - **Stop Loss Level**: ~$63.00 (3H swing low). - **Target**: $72.50. - **Market Sentiment**: Bullish 🐂, fueled by shrinking inventories and geopolitical noise. **Latest COT Data (Friday, May 9, 2025)**: - **Commercial Hedgers**: Net long positions rose 4% in Brent futures, backing bullish momentum. - **Large Speculators**: Net long but scaling back slightly, wary of overbought signals. - **Data Source**: CFTC Commitment of Traders report. **Key Fundamental Drivers**: - **Inventory**: ICE Brent data shows -1.8M barrel draw last week, bolstering prices. - **Geopolitical**: Ongoing Middle East supply risks keep markets edgy. - **Seasonal**: Rising summer demand forecasts add tailwinds. 🔔 **Note**: Watch for API inventory data (late May 14, 2025) and OPEC updates for potential volatility. --- 💥 Hit that Boost and let’s ransack the Brent market together! 🚀 💖 Fuel our heist! 💥Tap the Boost Button💥 to power up our profit raid. Join the Bandit Trading Crew, snatching wins daily with ease! 🏆🤝🎉 Stay sharp for the next caper—see you soon! 🤑🐱‍👤🚀
ICMARKETS:XBRUSDLong
by Thief_Trader
Brent Crude Opens with a Bearish GapBrent Crude Opens with a Bearish Gap As shown on the XBR/USD chart, Brent crude oil opened this Monday morning around $59.00, forming a bearish gap relative to Friday’s closing price of approximately $61.40. The current Brent crude oil price is near the yearly low reached about a month ago, following the announcement of Trump’s tariffs, which turned out to be significantly higher than expected. Why Is Oil Falling? As we noted on 30 April, market participants are closely watching news related to OPEC+. Over the weekend, during an online meeting (according to media reports), the following developments occurred: → It was stated that the current oil market is fundamentally healthy; → A decision was made to accelerate the pace of oil production increases. According to the plan, output will rise by 411,000 barrels per day — with some believing this move is partly due to certain OPEC+ countries previously failing to adhere to production quotas. Technical Analysis of the XBR/USD Chart Oil price movements in 2025 form a descending channel (shown in red), with progressively lower highs and lows indicating bearish sentiment. Although bulls may hope that the lower boundary of the channel could act as support, bears are showing signs of dominance (as indicated by arrows): → the median line of the channel previously acted as resistance; → now, similar behaviour is seen at line Q, which divides the lower half of the channel into two quarters; → the Rounding Top pattern also signals strong selling pressure. Fundamentally, oil prices are supported by China’s willingness to negotiate tariffs with the US. However, considering the OPEC+ decision and ongoing fears of a global recession, the current downward channel on the Brent crude oil price chart is unlikely to lose relevance any time soon. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
Brent Crude Price Continues to FallBrent Crude Price Continues to Fall Today, the price of Brent crude has dropped below $60 per barrel, marking its lowest level since March 2021. As shown on the XBR/USD chart, from the start of 2025, the price saw a rise of around 2.6% at the end of March 2025. Why is oil falling? The key driver is the escalation of the trade war. Yesterday, the US President announced the imposition of additional tariffs on trade with China, bringing the total to 104%. The decline in Brent prices seems to reflect traders' concerns about the risks of a global recession. Oil price forecasts for 2025 and 2026 Yesterday, analysts at Goldman Sachs released their oil price forecasts for Brent and WTI crude. They expect prices to reach $62 per barrel for Brent and $58 for WTI by December 2025. By December 2026, they anticipate a further decline to $55 and $51, respectively. However, analysts caveat that these forecasts are based on the assumption that the US will avoid a recession and that OPEC+ countries will increase their supplies. In the event of a global economic slowdown, Brent prices could drop to $40 by the end of 2026. Technical analysis of the XBR/USD chart today The sharp decline in Brent prices has resulted in a forceful breach of key lows from 2024 and 2025 around the $68.68 level. Additionally, the XBR/USD chart shows that the price continues to follow a downward channel (indicated in red), with the following levels acting as resistance (marked by arrows): → The upper boundary of the channel; → Its median (previously acting as support) – indicating the dominance of supply forces. It is possible that the lower boundary of the channel, strengthened by the psychological level of $60.00, will provide support, slowing the bearish progress of Brent prices. However, the key factor will undoubtedly be the news flow, with sharp statements from the White House. Traders are focusing on how China will react to the 104% tariffs announced by Donald Trump. As Reuters reports, the President stated yesterday, "We have many countries coming to us wanting to make deals," adding that he expects China to also seek an agreement. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
XBR/USD Analysis: Price Near Resistance ZoneXBR/USD Analysis: Price Near Resistance Zone As seen on the XBR/USD chart, Brent crude oil prices are hovering near last week’s highs this morning as market participants assess various influencing factors, including: → New U.S. sanctions on Iran, which are limiting its export capacity and tightening global supply, particularly to China. → Ongoing negotiations between the U.S., Ukraine, and Russia in Saudi Arabia, which could potentially lead to increased Russian oil exports. → OPEC+ plans to raise oil production starting in April. Technical Analysis of XBR/USD From a technical perspective, Brent crude oil is trading near a key resistance zone, which consists of: → A bearish Fair Value Gap (highlighted in purple). → The upper boundary of the descending channel. → The upper boundary of a narrowing triangle (shown in black), which can be interpreted as a Rising Wedge pattern. The Rising Wedge may represent a corrective rebound within a broader bearish trend. If buyers fail to break through this resistance zone, Brent crude prices could resume their downtrend within the red channel. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
Brent Crude Price Breaks Key Support LevelBrent Crude Price Breaks Key Support Level Today, Brent crude is sliding towards the psychological $70 per barrel mark, with the XBR/USD chart showing a break below a key support level (marked in blue) that had been holding since autumn last year. Why Is Brent Crude Falling? The bearish sentiment in the market is driven by OPEC+’s decision to increase oil production, contrary to analysts’ expectations that existing output cuts—designed to support prices—would remain in place. According to the Wall Street Journal, analysts now predict: → Oil production will rise by 137,000 barrels per day from April 2025 to September 2026. → Brent crude may drop below $70 per barrel. Technical Analysis of XBR/USD From a long-term perspective, Brent crude is forming a descending channel (marked in red), connecting the April and July 2024 peaks. The break below this support level could signal a renewed downtrend following a prolonged period of consolidation. If XBR/USD sees a short-term recovery from its yearly lows, key resistance levels to watch include: → The midline of the descending channel. → The former support level (marked in blue). Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
Brent Crude Price Drops After Trump’s Call with PutinBrent Crude Price Drops After Trump’s Call with Putin According to the XBR/USD chart, the price of Brent crude oil fell by more than 2% in a single day. This decline followed an announcement by US President Trump that he had spoken with Russian President Putin, discussing various global issues, including the war in Ukraine. As reported by Reuters, this has raised expectations that a potential peace agreement between Ukraine and Russia could involve lifting sanctions, which have disrupted global oil supply flows. Technical Analysis of XBR/USD On 7 February, we highlighted key support at $74. Since then, the price has risen (as indicated by the arrow) to $77, which has confirmed its role as resistance. Brent crude price movements outline a descending channel (marked in blue), with: → Bullish perspective: The $74 level may still act as support. → Bearish perspective: The $75.50–$75.80 zone, where sellers have shown dominance, could challenge bulls attempting to push prices into the upper half of the channel. Rising US oil inventories, the prospect of increased production under President Trump, and expectations of sanctions on Russia being lifted could all contribute to Brent crude revisiting its 2025 lows. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
Crude Oil Price Hits New 2025 LowCrude Oil Price Hits New 2025 Low As shown on the XBR/USD chart, the price of Brent crude oil dropped to $73.92 yesterday: → this marks a new low for 2025; → the decline since 15 January exceeds 9%. Bearish sentiment is being driven by Trump's policies. According to Reuters, the Brent crude price is falling due to: → US President Donald Trump’s renewed trade war with China; → threats of tariff hikes for other countries; → high oil inventory levels in the US; → Trump’s promise yesterday to increase US oil production. Additionally, the US Treasury Department announced yesterday that it was imposing new sanctions on several individuals and tankers involved in delivering millions of barrels of Iranian crude oil to China each year, adding to the volatility of Brent crude prices. Could the Brent crude price continue to fall? From a technical analysis perspective of the XBR/USD chart, we can see that the price has dropped to a key support level around $75 per barrel. At this level, bulls had the upper hand, managing to break a major resistance line at the end of 2024. It is possible that bulls remain strong in this price range, and the long lower wick on the candlestick—marked with a blue arrow—supports this idea. On the other hand, bears appear to be gradually gaining control at increasingly lower levels (as indicated by the red arrows): → the $77 level acted as resistance when Brent crude prices moved in February; → the $75 level has now shifted from support to resistance. Given these factors, it is reasonable to assume that supply and demand forces may balance each other out at current levels, leading to signs of consolidation in the Brent crude price chart. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
2
Brent Oil Price Drops from 2025 HighBrent Oil Price Drops from 2025 High If you follow FXOpen’s publications, you may recall how in 2024, we repeatedly analysed the XBR/USD chart and drew several key parallel lines. For example, in our publication at the end of November. This is significant because the uppermost of the three lines drawn last year acted as resistance, where the current peak of 2025 was formed, as shown by the arrow. Price fluctuations in the context of these three lines can be interpreted as follows: → The middle line suggests the zone where the fair value of a barrel is likely to be. This is supported by the fact that at the beginning of 2025, the price consolidated near the middle line around the $76 mark; → The rise to the upper line indicated an overbought market condition. Subsequently, like a pendulum, the price of Brent oil began to move in the opposite direction – down towards the middle line, where the fair value is presumably located. The current dominance of sellers is supported by: → Trump’s intentions to develop new oil fields, increase exports, and move away from the “green transition”; → A reduction in geopolitical tensions – notably, the ceasefire and prisoner exchanges between Israel and Hamas. It is possible that the sellers’ momentum will continue, as the revival of the US economy through cheap oil may be part of the strategic plans of the new team in the White House, which would drive the trend towards the middle line on the XBR/USD chart. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
2
XBRUSD | 17.01.2025SELL 81.90 | STOP 83.40 | TAKE 79.80 | This week, the American Petroleum Institute (API) and the Energy Information Administration of the U.S. Department of Energy (EIA) published reports on reserves. Thus, a decrease in volumes was recorded by 2,600 million barrels after a decrease of 4.022 million barrels a week earlier and by 1,962 million barrels from -0.959 million barrels earlier. As for trading volumes, according to the Chicago Mercantile Exchange (CME), demand for oil contracts has been steadily increasing since January 10 and amounted to 1.750 million per day the day before, compared with 0.950 million per day in the first week of the new year.
ICMARKETS:XBRUSDShort
by FXTradingOnLine
Brent Oil Price Retreats from a 3-Month HighBrent Oil Price Retreats from a 3-Month High On January 6, while analysing the XBR/USD chart, we: → constructed an upward structure using blue trend lines; → highlighted the potential for a pullback after the formation of peaks A and B around the $76.20 level. What happened next? As shown on the XBR/USD chart, Brent oil prices retreated on January 8 to the lower blue line (point C), where bulls successfully resumed the uptrend, pushing the price close to $81—a level last seen in early October 2024, near a key peak (not shown on the chart). According to The Wall Street Journal: → Demand was supported by sanctions imposed by the outgoing Biden administration on Russia’s oil industry. → Jonathan Ng, an OCBC Asean economist, noted that the price range of $78–83 appears to be a “relatively comfortable zone” for Brent oil in the near term. From a technical analysis perspective, the XBR/USD chart displays price action resembling a rounding top pattern. Therefore, it’s possible that after the bullish momentum triggered by the sanctions, another pullback towards the blue channel could occur in the short term. Going forward, much will depend on the political and trade policies adopted by the incoming Trump administration. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
2
Brent Crude Oil Analysis: Bulls Hold the Line at Key SupportBrent Crude Oil Analysis: Bulls Hold the Line at Key Support The XBR/USD chart reveals that Brent crude oil is trading near its lowest levels of the year. Several factors are pressuring oil prices: → China's uncertain demand outlook: As the world's largest crude oil importer, any signs of weakening demand weigh heavily on the market. → A strengthening US dollar: Since Brent is priced in USD, a stronger dollar makes oil more expensive for international buyers, dampening demand. → Trump's promises to halt wars, including in the Middle East: This reduces geopolitical risk, which traditionally acts as a bullish factor for oil prices. Technical Analysis of XBR/USD From a technical perspective, bears appear to maintain control as a key trendline has shifted from acting as support to resistance (as indicated by the arrows on the chart). Currently, the price oscillates around this trendline, which serves as the median of a channel marked by blue boundaries: → The upper boundary has been tested only once. → The lower boundary is under consistent pressure. Bulls, however, have managed to keep the price above the psychological $70.00 level. How long can demand forces sustain Brent above $70? A fresh bearish breakout below this level could occur, testing whether buyers can prevent the market from extending its downtrend, which has persisted since April 2024. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
2
A Bearish Gap on the Brent Crude Oil ChartA Bearish Gap on the Brent Crude Oil Chart As the XBR/USD chart shows, Brent crude oil prices formed a gap at the start of this week: while Friday’s session closed at 75.60, Monday’s opening price dropped below 72.60. According to Reuters, this development is tied to the fact that Israel’s recent missile strike on Iran did not impact oil or nuclear facilities, reducing the immediate risk of escalation. Will Brent Crude Oil Prices Continue Falling? In terms of technical analysis for XBR/USD today: → The price is within a descending channel (shown in red) that has been active since early summer. A bullish breakout attempt on 7 October was unsuccessful (marked by a red arrow), and Brent crude has since dropped over 10%. Price consolidation between 17-22 October near the median of this red channel confirms its current relevance. → Bulls had an opportunity to show strength with a bounce (marked by a blue arrow) from Support Line 1, which forms part of an upward structure represented by blue lines. However, today’s bearish gap erased these gains. This allows traders to consider two scenarios: → Bearish Scenario: After breaking below Support, Brent could continue along the red descending channel. If the channel’s median line holds as resistance, this bearish outlook may be confirmed. → Bullish Scenario: Today’s bearish breach of the 18 October low could prove false, leading to a potential recovery back toward the structure of three blue lines. Ultimately, which scenario plays out will largely depend on volatile news related to geopolitical tensions, the U.S. presidential election, and economic data from major economies. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
2