BRENT CRUDE OIL PRICE: buy above 50.00

By | August 14, 2015

Brent crude oil price are trying to find the bottom as they reached important technical support levels, and news flow improved slightly after the release of positive data on commercial stocks. Agency energetic information recorded a reduction of inventories by 1.7 million barrels on Wednesday. This is the fourth of a significant decline in a row.

Oilfield services company Baker Hughes today, to publish data on the rig. After the fall in oil prices below $ 50 to have an extended period of time, the company may resume shale preservation of production capacity, which in this case could be a catalyst for growth.

Prices touched a low of 48.30, but then he moved up to the area of $ 52 per barrel. However, it could not be fixed, they rolled down and consolidated in the range 49,30-49,70. Active sellers on the market now is not high. If the quotes can be fixed above SMA (50) and SMA (200), there may be interesting for shopping.

crude oil prices chart
Crude oil prices chart

Trading analytics

Brent crude oil (BRN) – buy oil – Entry price: 50. Goal: 51,50. Stop loss: 49,15.

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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