Brent Crude Oil Cash discussion
BCOUSD Up to 84 then look for reversal pattern
BRENT All storages all declining and its still going down?!
BRENT those middle east conflict cant out-weight weak demands now.plus, OPEC+ is tempting to increase their production output.
therefore i doubt that the price would go any further over 80/barrel or won't hold that high level for very long if reached
BRENT This rising conflict is keeping a presure on the biggest commodity of the century, considering middle east is all in on it and major crude comes from Middle East, you never know when this brent shoots overnight and come near $95 or like 2001 too, what you guys think , the outcome of these middle east mess backed by the super powers of the Globe ?
BRENT In Addition, crack spreads are higher today than they were on the 7th. Prompt spreads really close as well, but the oil market generally responds to crack spreads (fuel margins)....which obviously was driven by the gasoline inventory drop last week.....so there are some signs of a physical market showing a pulse.
USDBRO the test will be over at 80.36. next point would be 83.15. if it pops up gonna burst up. Something going to happen upto next week arounf the world which either surge its price or pull back to 66.5 for next month
BRENT before you enter Longs be mindful. We are around a 5days chart resistanceBRENT to $90 by weekend considering the escalation in the Middle East and provided Israel does not retaliate. If Israel retaliates then we’re looking at $100. I posted a suggestion for long term buy on 13TH September. I’m posting this nearly a month later. Let’s see how it goes. Don’t say I didn’t tell you.
BRENT what a mean reversion 😉 moonypto do you agree ?
tradingview.com/x/uN6WTBJE
BRENT The United States and Israel are discussing the option of striking Iran's oil infrastructure in the Persian Gulf If they do this, not a drop of oil will leave the Middle East anymore, causing a massive oil shortage in Europe and a huge spike in the price
