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In today’s technical spotlight, we turn our attention to Brent oil, a commodity that’s been in a holding pattern of late, but appears poised for a significant move. The current market scenario suggests an impending breakout, given the formation ...
The oil market is currently undergoing interesting changes due to the fluctuating American Dollar, which affects its value. After a recent decline, we are now very close to a major sell signal. Apart from the USD, global demand and actions from ...
Brent oil has just triggered a fresh sell signal thanks to the huge drop it experienced yesterday. While it remains to be seen whether this signal will prove effective, the current bearish outlook looks promising. Brent oil has been in a downtrend ...
An interesting battle is currently happening with oil. Its first two days of the new year were really negative and the price pretty much collapsed, erasing the gains from the second half of December. Buyers managed to stop the decline and performed ...
Oil is still struggling to climb higher, despite the fact that, in general, commodities are doing fine. That’s largely due to a weaker USD. Brent oil is currently testing a very important horizontal support, which has held its price from dropping ...
Oil is looking to end this week on the positive side with the possibility of a very handsome buy signal. This week, we had two important events on the chart, which significantly increased the chances for a further rise. First of all, the price ...
Thursday brings us a short update on brent oil. This instrument has been heavily bombarded recently by the macro data, not only for oil, but also the macro data for the USD. Let’s start with the one for oil. Yesterday’s inventories. Data came in hot ...