Brent remained rather unchanged

February 17, 2017

There seems to be little drive for any real direction now. Brent remained rather unchanged on Thursday staying in a tight range above 55.50 dollars per barrel. The Asian upward impetus lost it legs when European markets opened. Sellers reversed black gold and pushed the benchmark downward sending the market to the opening prices. The 4 hours chart showed that the benchmark broke its moving averages. The 50, 100 and the 200-EMAs were flat in the same chart. The resistance lies at 56.50, the support comes in at 55.50 dollars per barrel.

MACD indicator was at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. The RSI consolidated within the neutral area and moved north.

Trading recommendations

We prefer to stay bearish for now. A move below 55.50 would indicate that immediate upward pressure eased. The next mark to focus on is 50.00 dollars per barrel.

Publication source
Fort Financial Services information  Fort Financial Services reviews

February 27, 2017
EURUSD dropping perfectly, remain bearish
Price is dropping nicely towards our profit target. We remain bearish below 1.0604 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a further push down to 1.0494 (Fibonacci extension, horizontal support)...
February 27, 2017
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...
February 24, 2017
Gold surges to major $1250 resistance as uncertainty prevails
Gold surged Thursday on a breakout of its previous consolidation to hit and slightly exceed major technical resistance at $1250, a level not seen since early November...

Larson&Holz IT Ltd Rating
Fort Financial Services Rating
NPBFX Rating
Orbex Rating
 FXTM Rating
Grand Capital Rating

OptionRally Rating
Beeoptions Rating
Binary.com Rating
OptionFair Rating
TropicalTrade Rating
Anyoption Rating