BRENT CRUDE OIL: prices again test 56.50

By | July 20, 2015

Brent crude oil decline at the opening of the week, despite the fact that the published in the last two trading sessions data were rather positive. The volume of exports of crude oil from Saudi Arabia in June fell by 802,000 barrels per day to 6.935 million, while in the US the number of rigs working again fell, this time by 6 to 857 pieces.

In recent weeks, the market has poured out a stream of negative news from the slowdown in China and ending with the removal of sanctions on Iran. Not all of them have yet been completely digested, but the reasons for the further reduction of the scale difficult to allocate.

Contracts try the strength of support in the 56.50 second time in the last two trading sessions, but feel there is support and do not dare to go down to 55.00, visited two weeks earlier and where they are very high in demand. We are looking for shopping opportunities at relatively low price levels.

brent crude oil chart
Brent crude oil chart
Trading analytics
Brent crude oil (BRN)   –   buy oil   –   Entry price: 56,80.Goal: 57,77. Stop loss: 56,30.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee the results obtained.
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