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[QUOTE="Antony_NPBFX, post: 200376, member: 38727"] [size=5][b]Brent Crude Oil: multidirectional trading dynamics 13.10.2021 [/b][/size] Good afternoon, dear forum visitors! [url=http://www.npbfx.com/?utm_campaign=company&utm_medium=forumpost&utm_source=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] Prices for Brent Crude Oil are trading in different directions after renewing three-year highs earlier this week. Quotes continue to demonstrate steady growth amid the arrival of alarming publications that indicate a slowdown in the recovery of world economies and an expansion of the crisis in the energy market. Investors fear that against the backdrop of record electricity and natural gas prices in Europe, some power plants will be forced to use petroleum products to generate electricity, which will only exacerbate the current shortage. At the same time, OPEC+ is still abandoning the idea of a sharp increase in the production of "black gold". The cartel decided to stick to its target values, fearing sharp fluctuations and hoping to maintain a balance of supply and demand in the market. Today, in addition to US statistics on consumer inflation for September, the focus of traders' attention is on the report of the American Petroleum Institute (API), which will reflect energy reserves as of the week of October 8. It should be recalled that there was a slight increase by 0.951 million barrels. [b] Support and resistance [/b] Bollinger Bands in D1 chart show stable growth. The price range is slightly narrowing, staying spacious enough for the current activity level in the market. MACD reversed towards declining, having formed a new sell signal (located below the signal line). Stochastic, having once again reached the level of 80, reversed horizontally and signaled a strong overbought instrument in the ultra-short term. There's a possibility of a full-fledged downtrend in the nearest time. Resistance levels: 83.50, 84.18, 85.00. Support levels: 82.50, 81.76, 81.00, 80.00. [img]http://businesspr-finance.com/wp-content/uploads/2021/10/Brent-Crude-Oil-131021-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/10/Brent-Crude-Oil-131021-333.png[/img] [b] Trading tips [/b] To open short positions, one should wait for the confident breakdown of 82.50. Take-profit — 81.00 Stop loss – 83.50. Implementation period: 1-2 days. A rebound from 82.50 as from support followed by a breakout of 83.50 may become a signal for new purchases with the target at 85.00. Stop loss – 82.50. [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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