BRENT Bounces from Key Support

BRENT Bounces from Key Support

Key Support: 70.70
key Resistance: 72.00

Last OPEC meeting the consensus was to raise output this spring and summer by 2.1 million bpd (barrels per day). Iran’s return to the oil market is less than certain with regulation on their nuclear capacity are being delayed and vey hard to oversee.
Demand of petroleum based products keeps rising as economies reopen at full capacity after vaccination efforts and air travel restrictions fall back to normal.

Higher demand of petroleum based products is driving prices at the moment with the supply limited by the OPEC during the pandemic to support prices and the overall market.

Technically speaking Brent has rejected our power buy zone. and the weekly pivot whilst printing a mild bullish bullish divergence. Our trade here is a buy to a possible retest of the current range on a massive bullish market.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Orlando Gutierrez

BRENT bounces back form previous lows

BRENT bounces back form previous lows

Key Support: 69.00
Key Resistance: 69.90 – 70.90

Long Term View
We´ve been looking at Brent for the past couple of weeks and looking for the opportunity to go long to ride this very bullish move. From the highs Brent retraced back 6.8% and bounced from the weekly pivot.

15M Chart Analysis
During the Asian session Brent came back to test the 69.00 level trading inside of a flag. We got long at the break of the flag on high buying volume and bullish divergence printed on the lower time frames.

Simple breakout-continuation setup from a key level.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Orlando Gutierrez

Brent rejects February highs

Brent rejects February highs

Key Support: 67.50
Key Resistance: 69.60 – 70.50

Long Term View
Brent has been very strong in its recovery from the Pandemic lows that took oil prices negative (WTI) the reason Brent was not that affected is because Brent future contracts are settled in cash.

Fundamental view
With the reopening of the economies and air travel, the demand for crude oil products is rapidly rising whilst the supply remains capped. This makes for a bullish pressure in this market and here is where we want to get in.

1H chart Analysis
Yesterday Brent prices fell 5.40% from the highs breaking the short term bullish structure and trapping mid to long term bears in the process.

Today we saw a 4H candle reject the February 25th highs to give us the setup to go long at the break of the 68.10 level. No divergence is detected but the confluence of those highs plus the weekly pivot and the 38.2% retracement of the last bullish move is confirmation enough of a possible bullish continuation at the break of today´s structure

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Orlando Gutierrez

Brent retests previous week´s lows

Brent retests previous week´s lows

Key Support: 69.00
Key Resistance: 70.60 – 71.40

Long Term View
Brent has recovered nicely over the past few months and we are trying to get in on this rally.

15M chart Analysis
Brent is trading in a very structured market and is now retesting the previous week´s highs.
We will wait for the break of the bullish flag at the bounce of the 2.618 of the last leg up to enter this long trade.

Now that Brent has broken with the lows we will delete the pending order and wait for the new pullback to find a new buy entry in this market since the potential here is big.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Orlando Gutierrez