brent

Daily Market Comment – US funding squeeze haunts Fed ahead of rate decision; dollar slips

Posted on September 18, 2019 at 8:19 am GMT

US short-term rates jump on liquidity shortage in money markets, forcing Fed to step in FOMC decision awaited after market stress prompts speculation of balance sheet action Oil sharply reverses gains after Saudis pledge quick return to full output Calm returns to US money markets The US Federal Reserve carried out its first overnight repo operation since the financial crisis after short-term borrowing costs surged to 10% on Tuesday. The spike was caused by a funding squeeze brought on by [..]

Daily Market Comment – Oil eases but stocks remain pressured; dollar edges up as focus turns to Fed

Posted on September 17, 2019 at 8:24 am GMT

Oil prices fall back slightly as imminent risk of war recedes, but tensions remain elevated US dollar in demand ahead of Fed decision; heightened tensions provide support Aussie slips after RBA minutes leave door open to another near-term rate cut Oil markets calmer but tensions high Crude oil prices moderated slightly on Tuesday as the United States and Japan pledged to release their countries’ oil reserves if needed, while President Trump said he’d like to “avoid” going to war with [..]

Technical Analysis – Brent futures soar, logging biggest intraday gains

Posted on September 16, 2019 at 2:42 pm GMT

Brent crude oil today gapped higher, propelling the commodity to levels not seen for three-and-a-half months. The price soared by 6.51 at the opening to reach a peak of 68.49, before black gold retraced down to 64.81, surrendering some of its gains. Yet, the bulls have resurfaced and revived the move up back above 65.52, which is the 23.6% Fibonacci retracement level of the up leg from 55.87 to 68.49. The momentum indicators reflect a short-term positive picture, as the [..]

Daily Market Comment – Oil soars after Saudi attacks; yen and gold up too

Posted on September 16, 2019 at 8:21 am GMT

Oil prices skyrocket after Yemen rebels launch air strikes on Saudi oil facilities Safe havens also jump as poor Chinese data adds to risk-off mood Pound eases from highs after EU casts doubt on Johnson’s claim of Brexit progress Oil prices surge to 4-month high after Saudi oil attacks Crude oil prices skyrocketed on Monday, recording their biggest intra-day gain since 1991 after Houthi rebels in Yemen reportedly carried out drone and cruise missile strikes on two major Saudi Arabian [..]

Technical Analysis – Brent futures bears look exhausted; indicators signal bullish action

Posted on July 3, 2019 at 1:27 pm GMT

Brent crude oil futures have gained a bit in the last 4-hour session, paring some losses of yesterday’s move. The technical indicators are currently feeding prospects for a possible positive short-term trading as the RSI is pointing up in the negative area and the %K line of the stochastic oscillator is creating a bullish cross with the %D line in the oversold zone, suggesting the end of the bearish phase. Alternatively, if 63.40 and the 23.6% Fibonacci of the downward wave from 75.60 to 59.40, near 63.24, proves [..]

Daily Market Comment – Oil, gold up on Middle East tensions; dollar steady ahead of US retail sales

Posted on June 14, 2019 at 8:05 am GMT

Brent crude extends gains following tanker attack in Gulf of Oman; gold lifted too Dollar heads for weekly gains as US retails sales and Fed meeting eyed Aussie and kiwi sag on growing rate cut bets Oil jumps on renewed tensions in Middle East Market sentiment was mixed on Friday as ongoing trade uncertainty and a flare up in Middle East tensions were partly offset by growing expectations that the Fed will come to the rescue of a weakening economic [..]

Technical Analysis – Brent futures return up but find obstacle at 40-SMA

Posted on June 7, 2019 at 8:38 am GMT

Brent crude oil futures has gained a little extra this week to jump above the 20-period simple moving average (SMA) and re-challenge the 40-SMA. The technical indicators are currently feeding prospects for a possible positive short-term trading as the RSI is holding above 50 level, while the MACD continues to strengthen above its trigger line. However, the stochastic oscillator is flagging overbought conditions, as it fluctuates above 80 with a softer positive slope. A failure to overcome the 62.80 resistance, could send the price down to the 20-SMA currently at 61.40 in the 4-hour chart. [..]

Technical Analysis – Brent futures trade near multi-month high; upward sloping range holds

Posted on April 22, 2019 at 1:14 pm GMT

Brent futures skyrocketed towards a multi-month high of 74.30 earlier today but are currently moving slightly below this level. The red Tenkan-sen and the blue Kijun-sen lines are flattening below the price action, suggesting a flat bias after the aggressive buying interest. According to the RSI, the market seems to be ready for negative correction as the index is moving sideways in overbought zone, while the stochastic is edging lower after it touched the 80 level. If the price extends [..]

Technical Analysis – Brent futures in slippery mode but bias remains bullish

Posted on April 11, 2019 at 11:50 am GMT

Brent crude oil futures are easing on Thursday below the multi-month high of 71.77, heading towards the 20-simple moving average (SMA) in the 4-hour chart. According to the MACD, the market seems to be ready for negative correction as the index dropped beneath the trigger line and the RSI found resistance at the 70 level. Moreover, the stochastic is edging lower after it touched the overbought territory. Should the price extend declines, the 70.72 level, which overlaps with the 40-SMA [..]

European Open Preview – Fed rate-cut bets grow; oil climbs on Libya woes

Posted on April 8, 2019 at 8:10 am GMT

Dollar little changed after NFP, but Fed rate-cut odds rise In the UK, reports suggest PM May could accept a customs union compromise Oil touches five-month high as Libyan production is threatened Dollar snoozes after mixed jobs data, but rate-cut bets grow The US employment report for March was a mixed bag. Nonfarm payrolls clocked in at 196k, higher than the consensus for 180k, but wage growth disappointed, with average earnings slowing to 3.2% in annual terms, from a cycle-high [..]

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