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Brentcrude

Breaking: The OPEC report is issuedOPEC monthly report was issued a few minutes ago, and the report was not positive for OPEC+ and the oil-producing countries within the group, led by Saudi Arabia. OPEC kept its forecast for oil demand in 2021 unchanged at an increase of 6 million barrels per day, bringing the average to 96.6 million barrels per day, and also kept its forecast for the growth of oil demands in 2022 by 3.3 million barrels per day, bringing the average production to 99.86 million barrels per day. While OPEC+ raised its expectations for an increase in the production of oil-producing countries outside the group by 840 thousand barrels per day, to reach an increase of 2.9 million barrels per day, with a total average of 66.9 million barrels per day in 2022. It also raised its forecast for the production growth of oil-producing countries outside the group in 2021 by 270,000 barrels per day to reach 1.1 million barrels per day, with a total average of 64 million barrels per day.
TVC:UKOIL
by basembitar
$OIL Brent crude approaching massive resistanceWhat a recovery in the price of Brent Crude after all the madness we witnessed after the Pandemic last year! We are currently approaching the downtrend line (DT) that has been in place since the peak in 2008. This zone ($77-$80) as indicated by the red box has also been an area of horizontal resistance/support in prior years. We have the 61.8 fib retracement which connects at a similar level, so putting this all together suggests Brent crude is approaching an area where you are likely to find some resistance and short term correction in price.
TVC:UKOILShort
by MarcoOlevano
6
Crude Oil - Buy Analysis Oil continues its bullish advance as Oil demand comes roaring back as governments across the world vaccinate their domestic populations and set up a global demand increase for Oil as OPEC keeps supply limited. Investments banks such as Goldman Sach's have an extremely bullish view on the commodity, calling for Oil to enter a super cycle. In this video I look at Macroeconomic data that predicts Oil prices and we also look at Volatility to know where the buying opportunities are if Oil continues its bullish trend.
TVC:UKOILLong
by KayansMarkets
Brent Crude: The Big Bear Show! 🐻🐻🐻It has been a while since we spotted bears on the oil market, but they came back in phenomenal fashion! With the yesterday’s offensive, they were able to pull the price shortly under the second support line at $62.36 – a crucial mark within our primary scenario. We expect that the price will further drop below $59.04. From there, we see a more comprehensive bullish run setting in to tackle heights of $80 and beyond. Good opportunities are coming!
TVC:UKOIL
by MarketIntel
Brent Crude has peakedBrent Crude looks like it needs a retracement after its stellar recovery. On the weekly chart we can see that its overbought on all three signals. Oil producers need the price to stay above roughly $40 a barrel. In a controlled environment with limited exogenous impacts the price of oil should stay above $40 a barrel. That being said, $70 a barrel isn't going to work for the non-US consumer. By early April we should see the chart reflecting a healthy retracement. Oil producers have benefited from the recovery in the oil price and the increase in demand post lock downs. Perhaps now is the time to take profits or close out one's position in the oil industry. Please note, this idea is shared for educational and discussion purposes only and should not result in speculative investment decisions in any asset class.
FX_IDC:USDBROShort
by JesseMorgans