BRENT OIL ANALYSIS - Nov 22 - is this the bottom?BRENT OIL - Weekly Outlook
Current Price: 62.39
Context: At BOTTOM of recent range (61.80-65.00). Bouncing off weekly lows. Range-bound after multi-week decline.
Bias: NEUTRAL-to-BEARISH (range trade until breakout)
TRADE IDEAS FOR NEXT WEEK
SETUP 1: LONG from Support (most current oppo
About CFDs on Crude Oil (Brent)
The Brent Сrude oil was originally produced from the Brent oilfield in the North Sea. About 2/3rds of all crude oil contracts around the globe include Brent Сrude oil, making it the most popular marker. Its relatively low density and sulphur content are the reasons why it’s described as light and sweet. One of the advantages is transportation since this type of oil is waterborne. The Brent Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum and has a UKOIL ticker symbol.
Crude oil off earlier lows but pressure remainsCrude oil has bounced off its earlier lows, thanks to a risk-on session in the stock markets. But oil's underlying trend remains bearish. Earlier saw Brent sliding to just below the $61 level—its lowest point this week, before stalling.
Oil’s latest decline kicked off after reports suggested that
XBR/USD Chart Analysis: Brent Crude Falls to Monthly LowXBR/USD Chart Analysis: Brent Crude Falls to Monthly Low
As the XBR/USD chart shows, today (Friday) Brent crude has dropped below $62, after rising above $64.50 as recently as Tuesday. This represents a decline of over 4% from the week’s high.
This sharp bearish movement is driven by an easing of
BCOUSD Bullish Longterm Continuation The market is likely making a structure for a bullish continuation in the long term. It is not wise to want to trade the whole trend to the end as it is not really practical for retail trading. Look for confirmations, retests for entries to the upside on smaller timeframes (1h, 30m, 15m and 5m)
Brent Crude selling pressure capped at 6535 resistanceThe Brent Crude continues to display a bearish outlook, in line with the prevailing downward trend. Recent price action suggests a corrective pullback, potentially setting up for another move lower if resistance holds.
Key Level: 6535
This zone, previously a consolidation area, now acts as a signi
Brent Crude capped at 6370 The Brent Crude continues to display a bearish outlook, in line with the prevailing downward trend. Recent price action suggests a corrective pullback, potentially setting up for another move lower if resistance holds.
Key Level: 6370
This zone, previously a consolidation area, now acts as a signif
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Displays a symbol's price movements over previous years to identify recurring trends.









