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Brent could extned its rebound to $38.09

Discussion in 'Current Market Sentiments' started by fx-recommends, Dec 28, 2015.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    Brent-Feb16 Daily 28-12-2015 07-01-29 ص.jpg
    Brent-Feb16 could hold most of its gains by trading now near 37.7 after reaching $38.09 following its rebound which started following the release of US EIA Oil stockpile which has shown setting back in the week ending on Dec. 18 by 5.877m, while the consensus was referring to rising by 1.083m, after increasing by 4.801m barrels in the week ending on Dec. 11.

    Brent could hardly find supporting level at $35.98, after increasing of the downside momentum following forming another lower high at $39.68 on Dec. 15.

    Brent-Feb16 rebound to $38.09 drove its daily Parabolic SAR (step 0.02, maximum 0.2) to read today $36.06 in its third consecutive day of being below the trading rate, after 30 days of being above the trading rate to reflect the current correction to the upside.

    Brent FEB 16 daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility is having now its main line in the overbought area above 80 reading 88.798, while its signal line is still in the neutral area reading 59.049.

    Brent FEB 16 rebound could fix some of its oversold stance over the short term but it is still trading now below its daily SMA20 below SMA50, SMA100 and SMA200.

    Important levels: Daily SMA20 @ $39.54, Daily SMA50 @ $43.97, Daily SMA100 @ $46.41 and Daily SMA200 @ $53.58


    S1: $35.98
    S2: $35
    S3: $34.19
    R1: $39.68
    R2: $41.56
    R3: $44.84

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

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  2. suhani sahani

    suhani sahani New Member

    Oct 8, 2015
    Likes Received:
    Nymex and Brent crude on the global market is close to around 38 dollars. Nymex crude oil fell by 0.62 percent to $ 37.87 a barrel, trading at 0.45 per cent, with weakness and Brant crude is at 37.75 dollars a barrel. Because of the decline in the dollar gold has risen in the light ….

    Gold marginally Increases
    In the global market, gold is trading above 1076 dollars per ounce. While silver is 0.79 per cent and is trading at 14.37 an ounce. Copper on the London Metal Exchange was trading at 0.63 per cent ….

    Slight decline in the domestic market
    MCX gold in the domestic market declined marginally by 0.1 per cent at Rs 25,200 trades. Silver also fell 0.4 per cent to around 34 225 rupees looks. MCX crude oil is trading at Rs 2,520 slipped nearly 0.5 percent. But MCX Natural gas rose 3.5 per cent to Rs 142.3 ….

    Weakness in base metals
    The trend is to find the weakness in base metals. MCX Aluminium declined by 0.1 per cent seems to Rs 100.7, up 0.5 per cent while copper is trading at Rs 311.5 with osteoporosis. MCX Nickel fell 0.3 per cent to Rs 565.3 seems. Lead is 0.4 per cent, and the price weakness has come at Rs 114.75. Zinc is sluggish and the price is trading at Rs 101.2.


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