Crude Oil technical analysis Quotes of BRENT crude oil continue to trade as part of the growth. At the moment, you should expect a test level of 58 and continue falling into the area below the level of $ 55 per barrel. In favor of falling quotations and prices for oil BRENT will perform a test of a broken trend line on the indicator of relative strength index (RSI).
Brent prediction | Crude Oil technical analysis on October 20, 2017
Expect to accelerate the fall of quotations is with a breakdown level of $ 54 per barrel, which indicates the completion of the formation of the reversal model «Double Top» for the target of working out at $ 50. The abolition of the fall in oil prices will be a strong growth and a breakdown of the level of 59.50 dollars per barrel, which will indicate the continued growth of BRENT above level 62.
Crude Oil technical analysis
Brent prediction & technical analysis on October 20, 2017 suggests an attempt to drop quotations and oil prices with the first goal near the level of $ 55 per barrel, in favor of the decline is the breakdown of the trend line on the indicator of relative strength index (RSI), the abolition of the fall version will be a breakdown at level 59.50 , indicating that the growth of quotations BRENT above level 62 will continue
|Chart | Calendar | TRADE NOW | FORCAST | cryptocurrency
Commodities Buyers and Producers
The sale and purchase of commodities is usually executed through futures contracts on exchanges that standardize the quantity and minimal satisfactory of the commodity being traded. As an example, the Chicago board of trade stipulates that one wheat agreement is for five,000 bushels and also states what grades of wheat can be used to meet the settlement.
There are sorts of traders that change commodity futures. The first is customers and producers of commodities that use commodity futures contracts for the hedging functions for which they were first meant. Theses buyers truly make or take delivery of the actual commodity while the futures agreement expires. As an example, the wheat farmer that vegetation a crop can hedge towards the hazard of dropping money if the charge of wheat falls before the crop is harvested. The farmer can promote wheat futures contracts while the crop is planted and guarantee a predetermined price for the wheat at the time it’s far harvested.
Theses traders in no way have the desire to make or take transport of the real commodity while the futures agreement expires. Among the futures markets are very liquid and have an excessive degree of each day variety and volatility, making them very tempting markets for intraday buyers. A number of the index futures are utilized by brokerages and portfolio managers to offset threat. Additionally, since commodities do now not generally exchange in tandem with equity and bond markets, some commodities can also be used correctly to diversify a funding portfolio.
Click here for reuse options!
Copyright 2017 Investors Buz