Brent oil approaches historical high

Source: Dukascopy Bank SA


In December, the price for Brent crude oil revealed a support zone between the $65.00 and $70.00 levels. The zone was the catalyst for a surge, which by January 12 had almost reached the $85.00 mark.

A continuation of the surge of the commodity price was highly likely to test the resistance of the 2018 and 2021 high level at $86.73. If the price moves above the historical high, the crude oil benchmark would be located at levels not seen since 2014.

On the other hand, a decline of the price could look for support in the 50 and 200-day simple moving averages near $78.00 and $75.00. The SMAs have been observed to be capable of providing short term support and resistance. Below the SMAs, take into account the ascending trend line, which connects the 2021 low levels.
Back to articles

Actual Topics

Wed, 12 Jan 2022 10:02:24 GMT

BTC/USD decline reaches 40,000.00

As reported on December 1, the price for BTC broke the channel up pattern on November 26. The event was followed by a decline, which recently reached the 40,000.00 mark and a support zone that surrounds it. In addition, it was spotted at the start of January that the decline had taken the form of a narrow channel down pattern.

Tue, 11 Jan 2022 13:43:06 GMT

Natural Gas looks for direction

The price for natural gas declined more sharply than expected, as the price broke the previous channel down pattern. The decline eventually stopped and the commodity began to trade sideways. In general, note three facts. The channel down pattern's lower trend line was revealed to be lower. The rate finds support in a support zone at 3.5170/3.5800. Meanwhile, resistance

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.