BRENT: general analysis on 01.07.2015

July 1, 2015

Current trend

Brent crude oil is falling against the US dollar. Some experts say the risk of Greek default makes energy prices lose its positions. To avoid the collapse, the Greek authorities decided to close all banks and place restrictions on the withdrawal and transfer of money. Amid these measures the attractiveness of the US dollar increased. The growth of the US currency usually makes investments in commodities less attractive, and the drop in demand makes prices go down.

While the situation in Greece remains uncertain, the volatility of all financial instruments, including oil, may rise. Will the Greek authorities strike a deal with its creditors? Economists have already started to predict a new wave of turbulence in the financial market if Greece exits the EU.

Support and resistance

The nearest resistance level is 63.28 - 2/8 Murray level.

The support level is 62.89 - 1/8 Murray level.

Trading tips

Open short positions after the breakdown of the level 62.89 with protective orders at 63.00 and the target at 62.11.

Publication source
LiteForex information  LiteForex reviews

January 17, 2017
ECB policy was focused on avoiding deflation trap
Asian stock markets were mixed, with Japan and ASX heading south amid reports that U.K. Prime Minister May will announce plans for a hard Brexit at today’s keynote speech. Yen strength is also continuing to put pressure on the Japanese markets...
January 17, 2017
Trump's inauguration and May's speech to shape up the markets this week
Markets started the week with no sharp changes and lower trading volumes, due to the Martin Luther King Day in the US, ahead of the crucial monetary policy decisions of the ECB and BoC...
January 17, 2017
Yen strengthens as markets jittery ahead of May's press conference
The U.S. dollar was trading weak yesterday in a holiday thin trading session. The Japanese yen strengthened strongly in the early hours today as investors turn cautious ahead of the British PM...

Larson&Holz IT Ltd Rating
FIBO Group Rating
Z.com Trade Rating
Trade360 Rating
Vantage FX Rating
 FXTM Rating

TopOption Rating
EZTrader Rating
OptionBit Rating
TropicalTrade Rating
Anyoption Rating
Grand Option Rating