BRENT Bounces from Key Support

Updated:

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 […]

BRENT bounces back form previous lows

Updated:

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 […]

Brent rejects February highs

Updated:

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 […]

Brent retests previous week´s lows

Updated:

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 […]