Geopolitics vs. Technical: Will Oil Correct -7%?Oil ( FX_IDC:USDBRO ) rose more than +20% after the start of tensions between Iran and Israel on Friday . I hope this tension ends as soon as possible because tensions have no winners.
The behavior and price movements of oil will certainly depend on the increase or decrease of tensions in the
About CFDs on Crude Oil (Brent)
The Brent Сrude oil was originally produced from the Brent oilfield in the North Sea. About 2/3rds of all crude oil contracts around the globe include Brent Сrude oil, making it the most popular marker. Its relatively low density and sulphur content are the reasons why it’s described as light and sweet. One of the advantages is transportation since this type of oil is waterborne. The Brent Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum and has a UKOIL ticker symbol.
Oil Price Falls Below $69Oil Price Falls Below Pre-Escalation Levels of Middle East Conflict
According to the XBR/USD chart:
→ Prior to Israel’s airstrikes on Iran on 13 June, the price of Brent crude was hovering around the $69.00 mark;
→ Following US bombings in Iran, the price spiked at the Monday market open, reaching
3 Line Strike Pattern: What It Means and How to Use It3 Line Strike Pattern: What It Means and How to Use It in Trading
Candlestick patterns are crucial tools for traders, offering valuable insights into market sentiment and potential price movements. Among these patterns, the Three Line Strike setup is particularly sought after by traders in forex,
Brent crude: why I'm not trading oil right nowBrent crude surged earlier this month on war headlines, and our trade setups nailed the moves. But right now, the market offers no edge. Volatility is fading and price is stuck in a large triangle. Unless you have geopolitical insight, there's no clear reason to trade. In this video, I explain why I
Oil Price Surges at Monday Open Amid US Strikes on IranOil Price Surges at Monday Open Amid US Strikes on Iran
As shown on the XBR/USD chart, the Brent crude oil price formed a bullish gap at the opening of financial markets this Monday, surpassing last week’s high.
Only three days ago, we drew attention to Donald Trump’s statement that a decision re
Crude Oil Bounce PlayAn interesting setup in crude oil with a tight stop at $65.75 and the first target in the $70–71 range.
It’s a bounce play. I'm usually not a big fan of these, but here I like the tight stop, the broader macro context, the sharp drop from the $76 level, and the subsequent consolidation around $66.5
Brent Forms Bearish Engulfing Candle Amid De-escalation ShiftCrude oil’s conflict-driven rally may have run its course. After surging into resistance last week, Brent has now reversed sharply on signs of de-escalation in the Middle East.
Ceasefire Hopes Trigger a Sharp Reversal
Last week we highlighted that crude oil’s rally on the back of the Middle Ea
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Displays a symbol's price movements over previous years to identify recurring trends.