Brent Crude Oil Analysis==>> Fundamental + Technical

8 ต.ค.

Brent Crude Oil( USDBRO ) began to rise from the Heavy Support zone($71.30-$64.80) after Iran attacked Israel. (It seemed that before the attack of Iran, Brent oil intended to fall and correction further).

Today's fundamental analysis of Brent crude oil prices is influenced by several key factors:

Geopolitical Tensions: The ongoing conflict in the Middle East, especially between Iran and Israel, has raised concerns about potential disruptions to oil production and exports. Any attacks on Iranian oil infrastructure, particularly in the Strait of Hormuz, a crucial passage for global oil exports, could reduce supply and drive prices higher. These concerns have contributed to the recent rise in Brent prices, pushing it above $80 per barrel.

Global Demand: China's recent large-scale economic stimulus aimed at boosting recovery has increased optimism for higher oil demand. As the world's largest oil consumer, any rise in demand from China directly influences global oil prices.

OPEC+ Supply Capacity: Although OPEC+ still has significant spare production capacity, there are worries that a severe crisis in the region could overwhelm this capacity, preventing the group from compensating for any sudden drop in supply.

Overall, the short-term outlook for Brent crude appears bullish, driven by geopolitical uncertainties and potential increases in demand from China. However, the market remains cautious to see if these trends will hold over time.

Now, according to the fundamental analysis of Brent Crude Oi, let's see which area is suitable for buying Brent Crude Oi.

Brent Crude Oil is moving near the Support zone and the Support line.

Brent Crude Oil's movement structure is corrective, and we should expect it to move upwards again.

I expect Brent Crude Oil to start rising again from or near the Support zone and at least to $81(Yearly Pivot Point) and then attack the Resistance lines.

Brent Crude Oil Analyze (USDBRO), Daily time frame⏰.

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9 ต.ค.

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10 ต.ค.

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If Brent Crude Oil goes over $79, we can expect more pumps.

Also, you can RISK-FREE (Transfer Stop Loss(SL) to Entry Point(EP)).

Good luck.