Brent: fall slowed

16 September, 2015

Current trend

After a significant fall at the beginning of the week, on Tuesday the price if Brent crude oil grew slightly. Oil is gradually recovering amid looming publication of the Fed’s meeting on Thursday. The majority of experts assume that the regulator is not going to hike its interest rates at tomorrow’s meeting and will delay the decision until December.

In addition, oil found a support in shrinking reserves and falling output in the US. According to estimates, last week oil reserves in the US shrank by 1.8 million barrels. The official data is going to be published today.

Support and resistance

Bollinger Bands on the daily chart is moving horizontally, but the price range stopped narrowing. MACD is trying to turn up. Stochastic is near the middle of its range and growing.

The indicators recommend waiting for a clearer trading signal.

Support levels: 41.41, 46.63, 46.00 (local low), 45.00, 43.97, 43.00, 42.08 (24 August low).

Resistance levels: 48.10 (local high), 49.24, 50.00 (9 September highs), 50.89, 51.50, 52.15, 53.00, 53.50, 54.16 (31 August high).

Trading tips

Long positions can be opened after the breakout and consolidation above the level of 48.10 (with the appropriate indicators signals) with targets at 49.24, 50.00 and stop-loss at 46.63.

Short positions can be opened after the breakdown of the level of 46.00 with the target at 45.00 and stop-loss at 47.00.


Source link  
XAG/USD: A decline might resume

On the 4-hour chart, the pair is trading near the level of 15.32 (23.6% correction). The price is supported by the 38.2% fan line, directed up, and the level of 15.05 (38.2% correction)...

USD/TRY: Dollar resumed growth

Since the beginning of this week, the pair continues strengthening amid some reduction in anxiety on the market. The Dollar was supported by data on Retail Sales that came out in the US on Friday. In January, the index grew by 0.2% that was slightly better than forecasts of economists...

Brent: growth resumed on February 15, 2016

Since the middle of the previous week, the price of Brent crude oil continues growing amid weakness of the US Dollar. In addition, the price is supported by expectations of the reduction in output by major world producers...


XAU/USD: technical analysis

On the daily chart, the pair is trading just above the lower MA of Bollinger Bands. The price remains below the EMA130, EMA65 and EMA14, all directed down. The RSI is failing to break out from the oversold zone as it tested its resistance at 32 mark two times last week...

XAU/USD: gold renews lows

On Thursday, the price of gold fell to its 5-year lows. The Bearish trend accelerated amid macroeconomic statistics form the US than strengthened expectations of an interest rates hike on the US in December...

XAG/USD: pair is falling

The price remains under pressure amid strengthening US Dollar that was significantly supported after the publication of strong NFPR data in the US that substantially increased chances of an interest rate hike in December...


Brent: Fibonacci analysis

On the 4-hour chart, the price is trading in the area of 48.10 which is seen as a particularly strong level as 23.6% Fibonacci both for the short-term and medium-term trends have concentrated in the area of 48.10-47.80...

Brent: moderate growth

At the end of last week, the price of Brent crude oil strengthened moderately, being supported by the weakness of the US dollar which failed to hold its positions, gained after the recent Fed meeting...

XAU/USD: gold reached local highs

Last week the price of gold significantly grew. The pair remains under pressure amid concerns on the markets that the Fed will refrain from an interest rate increase before the end of the year...

  


Share: