Equities back in the meat grinder after big tech earnings
Stocks continue to melt down as big tech results underwhelm [...]
Trading news
Brent: general analysis
Current trend
Crude oil Brent rate is going down amid experts’ expectations of the increase in the US oil inventories. On Thursday the report of the US Energy Information Agency is scheduled for the release. According to predictions oil reserves will increase by 550 thousand barrels up to the highest level since July 2013 of 386 million barrels. It is worth noting that commercial inventories of crude oil in the USA have been growing for the seventh consecutive week.
Support and resistance
Support levels are 105.80, 105.05 and 104.00. Resistance levels: 106.80, 107.40 and 108.00.
Trading tips
It is more likely that in the near future Brent rate will slowly go down to the level of 105.00. It is advisable to open short positions with the target of 105.00 and 104.00 after breakdown of the level of 105.80
Vadim Smarzh
Analyst of LiteForex Group of Companies
Wednesday, 13 Nov, 2013 / 9:51
Source : https://www.liteforex.com/
Trading news
Fear of national lockdown kept the Pound under pressure – GBP/USD Market Outlook – 30/10/2020
The Cable drops for the third consecutive day towards 1.29 on chatters of UK [...]
OIL weighed down by wave 2 fears and spreading lockdowns – US OIL Market Outlook – 30/10/2020
WTI Crude closed below the 200 period SMA on the daily chart, falling by more [...]
