The Brent is under pressure

25 July, 2016

General overview

The Brent is under pressure as investors are concerned over the existing oil oversupply in the world markets.

Current situation

Technically, the tone is still negative in the market. The Brent futures continued to grind lower and touched 45.30. The resistance is at 46.50, the support comes in at 45.30.

MACD indicator is in the negative area. MACD decreased which indicates the sellers’ positions strengthening. RSI approached the undervalued area which is a sell signal.

The moving averages (50, 100 and 200) are moving downwards in the 4 hours chart.

Trading recommendations

The tone is still negative in the market. To trigger additional downward momentum towards 44.00 the price needs to break the current support. A break above 46.50 would open the way to 47.50.


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Brent maintained its ask tone

Sellers continued driving the benchmark lower after a brief pause at 50.80 dollars per barrel...

Gold prices remained in green

The bullish market structure remained in place on Thursday...

Gold prices traded in green

The gold recovery stalled around 1235 dollars per ounce on Monday. Buyers did not find any reason to move the price further. The precious metal was slowly declining...


Brent found a solid support after two day decline

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Gold prices slightly fell

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Oil prices recovered back

Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon...


Gold reached three-month highs

Spot gold remained on strong bullish footing on Friday. After an Asian flat the price got an upward impetus in the European morning...

The euro is under pressure amid growing concerns

The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows...

EURUSD is having difficulties to go any higher

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece...

  


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