The Brent is under pressure

July 25, 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.

Publication source
Fort Financial Services information  Fort Financial Services reviews

September 30, 2016
Gold earns slightly in Asia
On Friday, gold prices edged up in Asia after a key manufacturing poll from China came in as expected and traders looked ahead to more remarks from Fed policymakers...
September 30, 2016
Rally on stock markets didn't last long
Wall Street closed with losses and in Asia, lenders were also under pressure, with Nikkei and Hang Seng down more than 1.4% and only mainland Chinese markets managing to carve out gains...
September 30, 2016
Commodity currencies closed weaker
Following the OPEC led gains in the oil markets which saw the commodity linked currencies gaining ground, price action yesterday saw the currencies give up most of the gains as the US dollar edged higher on the day. The Australian dollar was the weakest, closing the day 0.73% lower...

FXTM Rating
Grand Capital Rating
OctaFX Rating
Larson&Holz IT Ltd Rating
FIBO Group Rating
Orbex Rating

Anyoption Rating
Beeoptions Rating
EZTrader Rating
365BinaryOption Rating
Binary Brokerz Rating
OptionFair Rating