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05 February 2015: Brent: general overview

Brent: general overview

 

 

 

 

Brent crude oil did not manage to overcome the level of $59/bbl after a relatively long growth and fell due to technical correction yesterday, as expected. In the afternoon, Brent was affected by the news from the USA. The US Department of Energy reported that oil stocks had grown by 6.3 million barrels up to a value of 413.1 million barrels over a week (record volume in the last 80 years). Market participants' attention will be paid to the initial jobless claims in the USA today (15:30 GMT 2). Forecasts are quite downbeat.

Bollinger bands are directed sideways on the H4 chart, reflecting relative calmness in the market. The MACD histogram is in the positive zone and its volumes are reducing, the signal line is above the histogram, which points to a trend reversal.

Support levels: 54.00, 53.00, 52.00, 51.00.
Resistance levels: 55.00, 56.00, 57.00, 58.00, 59.00.

This website/communication is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. It has been prepared by Mayzus Investment Company Limited without taking into account any particular person's objectives, financial situation or needs. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Past performance is not indicative of future performance. The future value of your investment may rise and fall with the changes in the market.

 

 

 

 

 


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