Brent strengthened during the North American session

12 August, 2016

Brent strengthened during the North American session on Thursday. The prices recovered after a sharp drop on the back of the concerns over the world oversupply.

Current situation

Brent spiked and set a new weekly high at 46.30. The instrument is trying to make a breakout at the resistance level of 46.50. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.

MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI approached the overbought area.

The price bounced from the 50-EMA, broke the 100-EMA and headed towards the 200-EMA in the 4 hours chart. The 200-EMA stopped its further upward movement.

Trading recommendations

The market is bullish now. The price may slightly roll back towards 45.30 dollars per barrel where it may reverse back to a growth.


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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

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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

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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...

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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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