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[QUOTE="Mikhail Kurakin, post: 196650, member: 2368"] Brent Crude Oil: prospects for demand growth support quotes Current trend Benchmark Brent crude prices are on the upward trend amid rising global energy demand, trading around $75.00 per barrel. Last week, the instrument was pressured by the expectation of an inflow of Iranian oil to the market; however, after the slowdown in negotiations on the "nuclear deal", the total volume of demand began to significantly exceed supply, which allows the "black gold" rate to adjust upward. A positive point is the significantly increased consumption of petroleum products due to the prevalence of road transport in the world over the rest since most of the borders are closed for air travel. Paying attention to the main world arbitrage position of the spread between Brent Crude Oil and WTI Crude Oil, the range of fluctuations has narrowed significantly and is currently only $1.70, which is the lowest indicator since the price collapse in the summer of 2018. This fact suggests that the implementation of a large position is being prepared. Support and resistance On the global chart, the asset is moving within an uptrend. Technical indicators maintain a stable buy signal: Alligator indicator’s EMA fluctuations range expands upward, while the AO oscillator histogram remains high in the positive zone. Resistance levels: 76.00, 78.00. Support levels: 72.00, 65.00. [img]https://media.clawshorns.com/uploads/files/ebaff57f043c0c61c9d04319cfc7a250.png[/img] [/QUOTE]
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