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[QUOTE="Antony_NPBFX, post: 195478, member: 38727"] [size=5][b]Brent Crude Oil: pending decisions on the Iranian nuclear deal 19.05.2021 [/b][/size] Good afternoon, dear forum visitors! [url=https://www.tb.marketinstructor.com/?referer1=earnforex.com] NPBFX[/url] offers the latest release of analytics on Brent Crude Oil for a better understanding of the current market situation and more efficient trading. [b] Current trend [/b] Brent crude prices continue their correctional movement, trading at 68.00 after another attempt to consolidate above the key level of 70.00. Analysts point to possible significant progress in negotiations between the United States and Iran on the renewal of the nuclear deal. If the parties are able to agree, and the US authorities will not extend the sanctions against Tehran, this will allow Iran to significantly increase the supply of cheap "black gold" to the world market. Yesterday, the American Petroleum Institute (API) released data on weekly stocks, which increased by 0.620M barrels, which is lower than the expected increase of 1.680M. Today, the Energy Information Administration (EIA) of the US Department of Energy will publish its report, which is predicted to show an increase in reserves of 1.623M barrels. However, if the actual data demonstrate a decrease in the indicator, the local trend in the asset may again change to an uptrend. [b] Support and resistance [/b] On the local chart, the asset continues to trade close to the global high, forming a sideways channel with the boundaries of 70.00–66.50. Technical indicators are in a state of uncertainty: the fast EMAs of the Alligator indicator are below the signal line, and the histogram of the AO oscillator has moved into the sell zone, forming the first bar below the zero level. Resistance levels: 70.20, 74.00. Support levels: 66.70, 63.00. [img]http://businesspr-finance.com/wp-content/uploads/2021/05/Brent-Crude-Oil-190521-11.png[/img] [b] Trading tips [/b] If the asset reverses and continues growing and the price consolidates above the local resistance level at 70.20, long positions will be relevant with target at 74.00. Stop-loss – 68.00. Implementation time: 7 days and more. If the asset continues to decline and the price consolidates below the local support at 66.70, short positions can be opened with the target at 63.00. Stop-loss – 68.00. [b]Use more opportunities of the NPBFX analytical portal: trading signals for commodities[/b] How can a trader determine if it’s worth buying or selling Brent Crude Oil now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on Brent Crude Oil and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url]. [/QUOTE]
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