Brent Crude – Tentative recovery but growth concerns continue to weigh

<p><a href="https://api.addthis.com/oexchange/0.8/forward/facebook/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Foil%2Fbrent-crude-tentative-recovery-but-growth-concerns-continue-to-weigh%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/facebook.png" border="0" alt="Facebook" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/twitter/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Foil%2Fbrent-crude-tentative-recovery-but-growth-concerns-continue-to-weigh%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/twitter.png" border="0" alt="Twitter" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/email/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Foil%2Fbrent-crude-tentative-recovery-but-growth-concerns-continue-to-weigh%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/email.png" border="0" alt="Email" /></a></p><ul>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element"><strong>Investors becoming wary about the economic outlook</strong></li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element"><strong>Supply cuts remain supportive</strong></li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element"><strong>Head and shoulders neckline provides support</strong></li>
</ul>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element"><span data-slate-node="text">Oil prices recovered a little toward the back end of the week after coming under some pressure this month. </span></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element"><span data-slate-node="text">Supply cuts from OPEC+ continue to support the market but uncertainty over the global economic outlook – sluggish recovery in China, possible recession in the US and Europe – are weighing a little. </span></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element" data-slate-fragment="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"><span data-slate-node="text">Recent economic data has not been encouraging and central banks are maintaining their hawkish positioning which could compound that pressure further going into the end of the year. But with supply cuts continuing to be extended, particularly the voluntary monthly reductions from Saudi Arabia and Russia, the market is being supported, perhaps in a new higher trading range above $80 in Brent.</span></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element" data-slate-fragment="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"><iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/_KMAzTQPE8Y?si=USWzZgG7i458RjM2" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<p><script src="https://apis.google.com/js/platform.js"></script></p>
<div data-channel data-layout="default" data-count="default"></div>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element" data-slate-fragment="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"><strong>A major area of support</strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element" data-slate-fragment="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">Brent crude ran into support over the last couple of days in a very interesting area, around $82.50, a break of which could have sent a very bearish signal.</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element" data-slate-fragment="JTVCJTdCJTIydHlwZSUyMiUzQSUyMnBhcmFncmFwaCUyMiUyQyUyMmNoaWxkcmVuJTIyJTNBJTVCJTdCJTIydGV4dCUyMiUzQSUyMk9pbCUyMHByaWNlcyUyMHJlY292ZXJlZCUyMGElMjBsaXR0bGUlMjB0b3dhcmQlMjB0aGUlMjBiYWNrJTIwZW5kJTIwb2YlMjB0aGUlMjB3ZWVrJTIwYWZ0ZXIlMjBjb21pbmclMjB1bmRlciUyMHNvbWUlMjBwcmVzc3VyZSUyMHRoaXMlMjBtb250aC4lMjBTdXBwbHklMjBjdXRzJTIwZnJvbSUyME9QRUMlMkIlMjBjb250aW51ZSUyMHRvJTIwc3VwcG9ydCUyMHRoZSUyMG1hcmtldCUyMGJ1dCUyMHVuY2VydGFpbnR5JTIwb3ZlciUyMHRoZSUyMGdsb2JhbCUyMGVjb25vbWljJTIwb3V0bG9vayUyMC0lMjBzbHVnZ2lzaCUyMHJlY292ZXJ5JTIwaW4lMjBDaGluYSUyQyUyMHBvc3NpYmxlJTIwcmVjZXNzaW9uJTIwaW4lMjB0aGUlMjBVUyUyMGFuZCUyMEV1cm9wZSUyMC0lMjBhcmUlMjB3ZWlnaGluZyUyMGElMjBsaXR0bGUuJUMyJUEwJTIyJTdEJTVEJTdEJTJDJTdCJTIydHlwZSUyMiUzQSUyMnBhcmFncmFwaCUyMiUyQyUyMmNoaWxkcmVuJTIyJTNBJTVCJTdCJTIydGV4dCUyMiUzQSUyMlJlY2VudCUyMGVjb25vbWljJTIwZGF0YSUyMGhhcyUyMG5vdCUyMGJlZW4lMjBlbmNvdXJhZ2luZyUyMGFuZCUyMGNlbnRyYWwlMjBiYW5rcyUyMGFyZSUyMG1haW50YWluaW5nJTIwdGhlaXIlMjBoYXdraXNoJTIwcG9zaXRpb25pbmclMjB3aGljaCUyMGNvdWxkJTIwY29tcG91bmQlMjB0aGF0JTIwcHJlc3N1cmUlMjBmdXJ0aGVyJTIwZ29pbmclMjBpbnRvJTIwdGhlJTIwZW5kJTIwb2YlMjB0aGUlMjB5ZWFyLiUyMEJ1dCUyMHdpdGglMjBzdXBwbHklMjBjdXRzJTIwY29udGludWluZyUyMHRvJTIwYmUlMjBleHRlbmRlZCUyQyUyMHBhcnRpY3VsYXJseSUyMHRoZSUyMHZvbHVudGFyeSUyMG1vbnRobHklMjByZWR1Y3Rpb25zJTIwZnJvbSUyMFNhdWRpJTIwQXJhYmlhJTIwYW5kJTIwUnVzc2lhJTJDJTIwdGhlJTIwbWFya2V0JTIwaXMlMjBiZWluZyUyMHN1cHBvcnRlZCUyQyUyMHBlcmhhcHMlMjBpbiUyMGElMjBuZXclMjBoaWdoZXIlMjB0cmFkaW5nJTIwcmFuZ2UlMjBhYm92ZSUyMCUyNDgwJTIwaW4lMjBCcmVudC4lMjIlN0QlNUQlN0QlNUQ=">This area coincides with support from earlier this month as well as the 200/233-day simple moving average band which it only broke back above a month ago for the first time since August last year. A rebound off here could be viewed as confirmation of the initial breakout.</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element" data-slate-fragment="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">A move below would not only have sent a bearish signal, it would also have triggered the break of the neckline of a suspected head and shoulder pattern which could have been quite significant.<strong> </strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element" data-slate-fragment="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"><strong>BCOUSD Daily</strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element" data-slate-fragment="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"><a href="https://www.marketpulse.com/wp-content/uploads/2023/08/BCOUSD_2023-08-25_15-40-17.png" target="_blank" rel="noopener"><img loading="lazy" class="aligncenter wp-image-807219" src="https://www.marketpulse.com/wp-content/uploads/2023/08/BCOUSD_2023-08-25_15-40-17-1024×507.png" alt="" width="620" height="307" srcset="https://www.marketpulse.com/wp-content/uploads/2023/08/BCOUSD_2023-08-25_15-40-17-1024×507.png 1024w, https://www.marketpulse.com/wp-content/uploads/2023/08/BCOUSD_2023-08-25_15-40-17-300×149.png 300w, https://www.marketpulse.com/wp-content/uploads/2023/08/BCOUSD_2023-08-25_15-40-17-768×380.png 768w, https://www.marketpulse.com/wp-content/uploads/2023/08/BCOUSD_2023-08-25_15-40-17-1536×761.png 1536w, https://www.marketpulse.com/wp-content/uploads/2023/08/BCOUSD_2023-08-25_15-40-17.png 1835w" sizes="(max-width: 620px) 100vw, 620px" /></a></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{" data-slate-node="element" data-slate-fragment="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">Source – OANDA on Trading View</p>

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *