Monthly Archives: October 2015

SILVER TRADING: Fed’s attitude is putting pressure on the metal

Silver was under pressure. At this stage, one of the key things that determines the dynamics of the precious metals are the expectations for the US Federal Reserve monetary policy. I must say that after the meeting, which was held on October 28, the US regulator was quite aggressive. Moreover, the Fed gave a clear hint at the next meeting, which, of course, supported the dollar. Today’s data on the rate of growth of the US economy (GDP in Q3 came in at 1.5% vs. 1.6%) failed to significantly change the mood of the market, which is already laid at the Fed rate hike in December.

In the area of 15.685 price level formed a support. Provided that the level is overcome, could increase sales that trigger the acceleration of the fall. On the hourly chart quotes already fixed below the 50-interval moving average, which also allows you to wait for a drop in prices in the short term.

silver chart
Silver chart

Trading analytics

SILVER (XAG/USD) – sell silver – Entry price: 15,685. Goal: 15,200. Stop loss: 16,020.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

COPPER: Bank of China, and plans to support the metal mining companies

Recently, copper shows a mixed trend. But at the current stage of the red metal has a chance to rise. As it became known on Friday, PBOC has taken steps to mitigate the monetary policy. In particular, the reduced rate on loans by 0.25 percentage points – to 4.35% and the reserve ratio for banks by 50 basis points. This tempered fears of a sharp decline in demand from China, which accounts for about 45% of world consumption. In addition, several companies previously announced plans to reduce the amount of copper mining. Such plans announced Glencore and Freeport-McMoRan. Also, do not forget about the upcoming publication of the decision on Wednesday, the US Federal Reserve‘s monetary policy. If the US regulator will be soft enough, the dollar will come under pressure across the board and it will be an additional catalyst for the growth of quotations.

In the district level 2.3483 quotes to form a support. If this barrier is not passed, it may reactivate the “bulls“, which will lead to a resumption of growth of quotations metal in the area of highs recorded in mid-October 2015.

copper price chart
Copper price chart

Trading analytics

Copper (HG)   –   buy copper   –   Entry price: 2,3483. Goal: 2,4365. Stop loss: 2,2815.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

Review of October 19-23: equity markets found reason for optimism.Forecast for the week on October 26 – October 30

Stock indices finished the week in the “green“. The main energy boost they received during the second half of the five-day working. Support benchmarks obtained from positive corporate reporting, and a soft mood, demonstrated by some regulators. In particular, the head of the European Central Bank, Mario Draghi, in a speech very clearly hinted that some additional stimulus measures could be taken already at the December meeting. PBOC lowered the rate on loans by 0.25 percentage points – to 4.35% and the reserve ratio for banks by 50 basis points. Dow Jones rose by 2.47%. NASDAQ rose by 3.89%. Hong Kong HSI ended the week with a total of 1.23%. The leader of the growth was the German DAX 30 (FDAX). The benchmark added 7.16%, rising to the level of 10847.

Gold most of the week remained under pressure. In addition to the technical factors in the form of sales of 1190.0 resistance, the pressure exerted on the metal repositioning in favor of the stock of assets. At the end of the week yellow metal lost 1.07%. Brent crude oil finished the week down 4.78%. Even data on the number of drilling rigs operating by Baker Hughes failed to provide substantial support, as in the United States had dropped by only 1 point compared to the previous week.

Chart of the week:

dax chart
Dax chart

The economic data of the last week:

  • Monday. China Q3 GDP 6.9% vs. 7.0% 
  • Tuesday. Price Ferrari in the IPO was . It attracted 893 million dollars
  • Wednesday. The Bank of Canada kept rates the same at 0.50%
  • Thursday. Mario Draghi at a press conference hinted at the likelihood of further easing
  • Friday. Eurozone: October index of business activity in the manufacturing sector (PMI Markit), 52,0 against the forecast of 51.8
Forecast for the week on October 26 – October 30
Stock market
Publication of corporate reporting season continues. This week the interest can cause reports Apple (AAPL) – on October 27 and Exxon Mobil Corp. (XOM) – on October 29. If we take into account that in the last week, the market is optimistic perceive the statistics coming out, one would expect that a similar situation will develop further. However, next week the market has a more powerful catalysts. Of course, we are talking about the publication of the decision on the monetary policy of the US Federal Reserve. The probability of changes in monetary policy at this meeting is practically zero. Moreover, judging by the data of the positions in the futures rate, at the moment the possibility of tightening in December dropped to 30% from 60% a month earlier.
Thus, even a hint of that at the December meeting of the increase may not happen to be capable of causing optimism in the stock markets (in particular, together with statements that on Thursday made the head of the European Central Bank, making it clear that further stimulus is necessary, as well as the decision of the Bank of China cut key interest rates and reserve requirements ratios for banks). In this case, Dow Jones (YM) growth is possible in the area of ​​level 17900 and, further, to 18047. Nasdaq (NQ) is able to rise to the July peak 4685.00. In addition, macroeconomic reports attention should be paid to data on US GDP for the 3rd quarter (October 29), the data on consumer confidence from the University of Michigan on Friday.
Commodity and raw market
Quotes of Brent crude oil to the end of the week came in the area of ​​the lower limit established in recent years range 47.00 – 54.00 dollars per barrel. But to reduce the factors was enough. This increase in commercial stocks in the United States at a record pace since April 2015. Keeping production in the United States at the same level. However, there could still be waiting for the positive dynamics (ie, reduction), taking into account the fact that the number of operating rigs to 62.76% lower than a year earlier. Do not add optimism and lack of agreement on the major oil-producing countries to cut production, as well as evidence of the continuing (albeit less active than expected) economic slowdown in China.
But all this is not enough to quote the “black gold” showed an impressive reduction. Firstly, the European Central Bank clearly signaled that it is ready to continue to stimulate the economy. This means that the sharp decline in demand from a net importer, is not likely to happen. Second, the growth of commercial stocks in the United States can be called the seasonal factor (because October is the peak preventive maintenance refinery). This week the market’s attention will be focused on solving the US Federal Reserve‘s monetary policy. This event may affect the performance of the greenback. If the regulator is soft enough in their statements, the dollar could come under pressure, which will lead to an increase in assets denominated in it. Therefore, Brent crude oil still have a chance to return to the district level of 49.20 and further to 50.80.

Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

BITCOINS: events in China could support cryptocurrency

Bitcoins in recent days shows a fairly restrained dynamics. However, fundamentally at cryptocurrency there is potential for growth. If we recall that Bitcoins has grown during the tightening of capital controls in Cyprus and in Greece, in the current environment, it can also be strengthened. And now, the reason may be similar to the measures taken by the Chinese government. It is natural that all this can provoke a growing interest in “alternative” currencies, which are not under state control. An additional reason for the growth cryptocurrency can become weaker dollar under the influence of reducing expectations the US Federal Reserve rate hike in the near future.

In the area of 265.029 level is resistance, which inhibits the growth of quotations Bitcoins in recent days. Therefore, in the event of a break above this mark the “bulls” can be activated explicitly. If there is sufficient catalyst immediate goal may be the level at which the asset was at the beginning of the week.

bitcoin charts
Bitcoin charts
Trading analytics
Bitcoin (Bitcoin)    –    buy bitcoins   –   Entry price: 265,029. Goal: 269,800. Stop loss: 261,791.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

COPPER TRADING: statistics from China exerts pressure

During the last three days, copper remains under pressure. Negative sentiment about the prospects for the metal added the latest data from China. Despite the fact that China‘s GDP came out slightly better than expected, slowing growth continues. Naturally, this speaker is a new wave of concerns about the demand for this metal, as China accounts for about 45% of world consumption. The published figures are partly offset by the effect of the earlier information that companies such as Glencore PLC and Freeport-McMoRan Inc. announced production cuts, which can help to reduce oversupply in the world market.

In the district level 2.32905 quotes formed a support. If this hurdle is passed, may reactivate the “bears” that will accelerate the reduction of quotations metal. In addition, the intraday price charts below 50 already fixed – interval moving average, which gives grounds to speak about the possibility of further decline in the short term.

copper chart
Copper chart
 Trading analytics
Copper (HG)   –    sell copper   –   Entry price: 2,3293. Goal: 2,2590. Stop loss: 2,3912.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

Review of October 12 – October 16: the chances of a rate hike fall. Forecast for the week October 19 – October 23

Equity markets continued to rise last week, to the extent that as I have done macroeconomic showgirl gave reason to expect that the Fed still will not hurry to raise interest rates in 2015. Retail sales for September were worse than expected, and the consumer price index recorded zero inflation over the same period last year. At a time when the external sector, uncertainty reigns, private economy is slowing and inflation is low, rush to the tightening of monetary policy does not make sense. Accordingly, investors continued to buy shares. S & P 500 ended the week added 1,1%, NASDAQ 2,1%, and the Dow Jones 1,0%.

Oil prices are the main reference varieties were under pressure after OPEC production growth recorded in September by 110,000 barrels, while statistics from China signaled that the second economy in the world, is also the largest importer of oil, continues to slow down. After the Energy Information Agency reported a decline in production in the United States by 130 thousand barrels per day in September, investors believe that the reduction in production is offset by increased production from the cartel, but now this assumption was doubtful. Reduced inflationary pressures in China and the low reading of the index of business optimism leads to believe that the “Middle Kingdom” is also affairs are not the best way. Brent fell by 4.4% and WTI of 4.2%.

Gold continued its steady growth, as reducing the probability of a rate hike in December, will continue to put pressure on the dollar. The “yellow metal” peaked at 3.5 months, touching the mark of 1189 dollars per troy ounce.

Chart of the week:

Gold chart
Gold

The economic data of the last week:

  • Tuesday. Eurozone: September index of business sentiment in Germany by ZEW Centre for Economic Research was 1.9 points against 6.8 median forecasts
  • Wednesday. US retail sales for August. The core figure was significantly lower than expected, -0.3% vs. -0.1%
  • Thursday. US: Consumer Price Index (CPI) for September was 0.2%, and coincided with the expectations of investors
  • Friday. US consumer confidence index from the University of Michigan in September exceeded expectations. 92.1 points versus 88.8
Forecast for the week October 19 – October 23
Stock market
The main event for the US stock markets in the coming week will be Janet Yellen speech at an economic conference in Washington. However, the Fed chief will just keep a short speech at the opening of the event. However, in periods of high uncertainty about interest rates, investors have traditionally hang on every word of the Fed, and in the absence of key macroeconomic statistics, it will be the main event of the week. Futures on major indices are on the path of steady growth, feeling the support near the key moving. Such dynamics of their signals about the potential for further growth. In the case of overcoming the resistance of 4141 NASDAQ-100 (NQ) will head to yearly highs in 4683.
On the corporate front, we should note that quarterly reports will present Harley Davidson (HOG, October 20), Yahoo! (YHOO, October 20th), American Express (AXP, October 21), The Coca-Cola Company (KO, October 21), Microsoft (MSFT, October 22).
Commodity and raw market
Oil market participants will be looking forward to an extraordinary OPEC meeting technical. It is expected that it will raise the issue again, Venezuela lower production volumes. However, it is unlikely to find understanding among the leaders of the cartel, led by Saudi Arabia, and can only add negativity. Representatives of Kuwait last week opposed the reduction of quotas and Saudi Arabia regularly increasing production. Vladimir Putin meets with influential representatives of the Middle East last week ended without result. December Brent contract will continue to fluctuate in the range of 47-54 dollars per barrel in the foreseeable future. Accordingly, near the bottom boundary of interest buying and selling at the top.
Currency market
Bidders single European currency will wait the outcome of the meeting of the European Central Bank. The European Central Bank is implementing a program of quantitative easing, but again faced with a slowing economy and deflation threats. Exports from Germany falls, despite the weak euro. Dynamics of the leading indicators signal a slowing down an already weak growth throughout the euro zone. Perhaps the discussion of new incentives. If it is confirmed at a press conference, Mario Draghi, the euro will be under severe pressure. The EUR / USD could fall into the area of ​​1.11.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

Review for October 12: all good, except for the dollar. Forecast for Tuesday, October 13

Monday was fairly quiet and relatively positive for all except the US dollar. Speech by Stanley Fischer with his hints that a rate hike may not be in a position once again undermined the US currency and supported the pair EUR / USD, which could grow to 3-week high of 1.1396. Demonstrated good dynamics and commodity currencies: AUD / USD reached nearly 2-month high of 0.7377.

Stock indexes on Monday morning showed positive, but the general background stood out only the BritishFTSE (Z), which came under slight pressure due to the negative dynamics of individual stocks in its composition. Commodity markets are still in a good mood. Gold was getting up to a maximum of $ 1168.94 per ounce. Meanwhile, Brenttouched 53.58 dollars a barrel, but by the close of trading returned to the area of 51.90 dollars per barrel.

Chart of the day:

aud/usd chart
AUD/USD chart

Economic data of the previous day:

  • Evaluation of Ferrari in IPO just under $ 10 billion. In the framework of the initial public offering of 17 million shares of the company’s value should be around 9.8 billion dollars
  • By Glencore plans to sell an additional copper mines in Australia and Chile to raise additional capital
  • Stanley Fischer said at a meeting of the IMF in Peru, that the increase in Fed rates in 2015 – only the expectation but not a guarantee
Forecast for Tuesday, October 13
Stock market
It is very interesting at the weekend by the representative of the Federal Reserve, Stanley Fischer, who is considered one of the most aggressive members of the FOMC. He said at a meeting of the IMF in Peru, that the increase in rates this year is still likely, however, it is rather “expectation, not a promise“, and things can change, if the global economy will bring down the American path to recovery. He specially touched decline in exports due to the cooling of growth rates, low levels of investment, due to the fall in oil prices, as well as “disappointing” results of the latest report from the US labor market. 
All this proves once again that the chances of even the December Fed rate increase significantly fall. And if we consider the development of the pessimistic scenario, then talk about the probability of the fourth round of quantitative easing seem more real. Thus, the US indices is very good chance to continue to grow with the probability of achieving 4440 on NASDAQ (NQ), 17280 of Dow Jones (YM) and in 2040 by S & P (ES). The only obstacle on the way up can act weak quarterly reports from the corporate sector. 
Commodity and raw market
Yesterday it became known that the mining giant Glencore put up for sale two mines in Australia and Chile. While the company is considering a proposal and hinted that it is not the fact that the sale does take place. However, the case is very important because it indicates the state of the mining sector suffering from a sharp fall in commodity prices and forced to work at a loss, just to avoid losing market share.
Depending on how you behave larger competitors Glencore, will be determined by the fate of the market and industrial products, as long as copper (HG) is held at a good level and feeling pretty confident. We recommend that you use every correction of the metal down to enter the market long positions at more attractive levels. The immediate goal on the way up to the area of copper may be 2.4680. 
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

Review for October 5 – 9 October, when the raw material is increasing. Forecast for the week, October 12 – October 16

On Friday, the dynamics of the euro has caused surprise – EUR / USD updated 3-week high at around 1.1379, on the topic of the general weakness of the US dollar. Maybe his role is played and the protocol FOMC, from which it became clear that the weak inflation and the growth rate of the global economy is seriously concerned about the Fed. Commodity bloc currencies also enjoyed growth, thanks to the widespread strengthening of prices for metals and oil.

Stock indexes on Friday were in a positive mood, though surges not shown. On the other hand, commodity markets enjoyed a rally full. Gold was getting up to a maximum of $ 1158.84 per ounce. Meanwhile, Brent touched 54.02 dollars a barrel, but by the close of trading returned to the area of 52.00 dollars per barrel.

Chart of the day:

cooper
Cooper

Economic data Friday:

  • Because of Glencore’s decision to reduce the volumes of zinc prices, and then on all metals soared up
  • Alcoa officially launched the corporate reporting season, showing earnings per share lower than expected: $ 0.07 vs. $ 0.13
  •  UK: August trade deficit of 11.1 billion pounds against 10.0 billion forecast

Forecast for the week, October 12 – October 16

Stock market
On Friday, the head of the European Central Bank Mario Draghi reiterated that the regulator is ready to use all available tools, and may adjust the program of quantitative easing. Chances expansion stimulus from the central bank has increased significantly in recent days against the backdrop of weak economic data from the euro zone, including low inflationary pressures, appreciation of the euro and rising external risks affecting the dynamics of the euro. In the context of stabilization of the situation on the world stock markets, especially on the trading floors of China rumors of additional stimulation may again revive demand for the German DAX (FDAX) with the immediate goal at around 10440. This week could be a litmus test for the benchmark for further direction.
In addition, the week is still paying attention to reports on retail sales and inflation in the United States. The labor market has shown himself not with the best hand, now the interest will be consumer demand and price pressures in the economy. If these reports will be weak, it is quite sure market in low chance the Fed rate hike in October and jeopardize the legitimacy of tightening in December. In addition, the market already there are talks about the probability of the fourth round of quantitative easing in the US. Thus, the US indices is very good chance to resume growth with a probability of achieving 4440 on NASDAQ (NQ), 17280 of Dow Jones (YM) and in 2040 by S & P (ES). The only obstacle on the way up can act weak quarterly reports from the corporate sector. This week will publish financial results Johnson & Johnson and JPMorgan Chase (Tuesday), Bank of America (Wednesday); Citigroup, Goldman Sachs and Philip Morris (Thursday) and General Electric (Friday).
Commodity and raw market
Brent is still closed a victorious week correction by almost 3% from the highs. For the most part, this was due to technical factors – a sharp continuous growth during the week ended logical back before the weekend on profit-taking. In addition, a role could play and the news that Congress voted to repeal the ban on oil exports to the United States. So far, the bill would have to go through many more obstacles, but theoretically, in the medium term it can put pressure on the energy market.
The next week is likely to be decisive in the determination of a new range of oil. It is evident that the decline in energy production in non-OPEC and rising geopolitical tensions in the Middle East will continue to be factors of support for Brent. However, in order to continue to strengthen, asset requires additional drivers. Data Baker Hughes, confirmed the fall in the number of active oil drilling rigs to 605 from 614 the previous week, most likely, will not be enough to break the mark of 54 dollars per barrel. Thus, it is possible return to range trading energy market, though now at higher levels – within 50 – 54.
And pay attention to the industrial metals, including copper and (HG). On Friday it became known that the commodity trader Glencore and manufacturer of metal will reduce the release of zinc by 500 000 tonnes to preserve the value of stocks at low prices for zinc and lead. In addition, the expected firing about 1,600 workers in Australia. As a result, prices for zinc and copper, and then went up sharply on expectations that the fight for market share is completed and the producers are no longer willing to put up with the current state of affairs. For most companies, such low prices make the increase in production unprofitable. If the process will acquire global dimensions, Commodities grope “bottom” and surely will go up. The immediate goal on the way up to the area of ​​copper may be 2.4680.
Currency market 
In addition, in the coming days, the focus will remain and the pair GBP / USD. Data on inflation and the labor market is very important for the Bank of England, as it was for him, he appreciates the need for changes in the course of monetary policy. We have mentioned before that the couple have a good potential of up to 1.56, provided favorable news. Even the growth rate of average wages will be enough to support a new round of demand for the pair. Moreover, capital flows within the framework of the merger Anheuser-Busch and SAB Miller are still a couple of weeks to maintain interest in the pound sterling.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

Review for October 8: Pound loves figure 500. The forecast for Friday, October 9

The US dollar throughout the day remained under pressure in anticipation of protocol FOMC. Meanwhile, the ball was ruled by European currencies. EUR / USD is supported even against the background of negative statistics yesterday revised the German organization for a fall forecast German GDP in 2016 to 1.8% from the preliminary assessment of 2.1%. Meanwhile, the Bank of England began its performance was suspended growth GBP / USD. At the meeting it became clear that the representatives of the MPC still dissatisfied strength of inflationary pressures, which gives a clear hint for a longer period of ultra-low interest rates.

FOMC minutes did not bring anything new, but only confirmed that before the release of weak data from the labor market most of the members of the Committee was set up to raise rates this year. However, the stock market was this enough – they did not get too much aggression, they saw the doubt, so continued growth indices. Gold hovered around 1142.00 dollars per ounce. Meanwhile, Brent was supported by rumors about the upcoming OPEC meeting. Active updated 5-week high at 53.49 dollars per barrel, while the closure slightly rolled.

Chart of the week:

brent crude oil chart
Brent crude oil chart

Economic data of the previous day:

  • Deutsche Bank announced a huge write-downs of assets: 5.8 billion euros of goodwill and EUR 600 million for 20% stake in a Chinese bank Hua Xia Bank
  • The Bank of England left rates unchanged 79 month in a row, voting in a ratio of 8 to 1
  • Germany: August, exports decreased by 5.2%, showing the worst level since January 2009

 The forecast for Friday, October 9

Stock market
We have not touched the German DAX (DAX), despite the fact that the index remains attractive for trade due to the high volatility of this asset. Despite the impressive drop in benchmark it is still able to show the full consolidation of once all the fears about global growth will go on stage. Support DAX and may have a high chance of additional stimulus, rumors of which appear on the market more often.
Fuel to the fire poured and yesterday’s news that Germany‘s GDP growth for 2016 was revised to decrease, indicating that the largest economy in Europe can not pull the whole burden of responsibility in the eurozone. The record since January 2009 decline in exports only confirms this fact. The immediate goal on the way up can be a mark 10140.
Commodity and raw market
Despite the initial correction, Brent to a close on Thursday could grow. This helped a lot of rumors about what will happen on October 21 “technical” meeting of the member countries and non-OPEC countries. No further details of the meeting were received, although the market expects from this meeting talking about reducing production quotas. This is very good news for oil. Recall that in 2008 it was an emergency meeting of the cartel energy carrier has helped to turn around and resume growth after an impressive collapse.
Aside from the rumors, according to our estimates, the current levels are quite close to fundamentally sound, so Brent, will likely continue to trade in a range, albeit at a high price levels – around 50.20 – 53.40. Weak economic reports confirming the problems in the US economy and China can lead to short-term sales in the area of 49.00, but then the asset will recover quickly in a comfortable range for him.
Pay attention to the copper (HG). Yesterday, with the return of the Chinese market after the holidays and returned volatility, sending asset nearly 1.5% down. In the context of weak growth the Chinese economy is difficult to hope for a non-stop growth of the metal. Copper is now testing support for 2.33 and it is possible that an attempt will be successful, but we do not expect a big sale of the asset. For a more stable dynamics there are factors of a fundamental nature. According LME non-ferrous metals (LME), copper stocks fell for the eighth consecutive day, noting the lowest since June this year, and the volume at Chinese warehouses, according to rumors, last month fell by 22%. It is possible that in the region of 2.27 asset turn and again resumes growth with the immediate goal at the level of 2.3930. We do not rule out that it will be such a trading range in the coming month.
Currency market
In currency markets, the main story is a sharp reversal of the pound sterling and the likelihood of achieving its medium-term “bottom“. GBP / USD pair over the last couple of days has increased by 200 points and has already broken through the upper boundary of a two-week range. However, for the pair is not the limit of movement, given that in the first half of September, it is easy to lose 550 points. In fact, every year in this impressive reversal on GBP / USD was at least 500 points, and such cases in 2015 already 11. If this time it will go to continue the script, we can safely expect that from a minimum of in the area of ​​1.5106 the pair will reach 1.56.
Capital flows in the framework of the merger of Anheuser-Busch and SAB Miller. Can a couple of weeks to maintain interest in the pound sterling. The role played by the sharp rise in industrial production above the predicted values. This meeting of the Bank of England was the biggest risk for GBP / USD. If the pair will outlive him, the achievement of the intended purpose is likely.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

TRADING BRENT: production in the US falls

Price Brent were noted steady growth after the US Energy Information Agency (EIA) in its traditional monthly report recorded a decline in production in the United States by 120 thousand barrels per day. In addition, it made a forecast for 2016 that production will continue to fall to its middle and the average will be reduced by 300 thousand barrels per day to 8.9 million. Profit oil in the world by the EIA was reduced from 2.4 million barrels to 1.16 million.

It is obvious that the drop in the number of drilling rigs operating by almost 60% since the beginning of 2015 is already yielding results. We believe that prices have a chance to go to a higher range of variation. Contracts for Brent c nearest expiration period stayed in the range of 47-50 just over a month, but now, having overcome its upper bound, rapidly moved up. At such a relatively low price levels they can be dangerous for shopping, but it is interesting in the case of downward correction in the area of 50.20.

trading brent
Trading brent

Trading analytics

Brent (BRN) – buy oil – Entry price: 50,30. Goal: 52,70. Stop loss: 48,80.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.