As we’ve got seen on the XBR/USD scheme, Brent crude oil costs hover close to their highest ranges final week, the place market members consider the assorted influencing components, together with:
→ The brand new US sanctions on Iran, which limits its capacity to export and tighten the worldwide provide, particularly for China.
→ Persevering with negotiations between the USA, Ukraine and Russia within the Kingdom of Saudi Arabia, which may result in a rise in Russian oil exports.
→ OPEC+ plans to lift oil manufacturing from April.
Technical evaluation of XBR/USD
From a technical perspective, Brent crude oil is traded close to the primary resistance space, which consists of:
→ Fragile Worth Hole (distinctive in purple).
→ The higher limits of the concession channel.
→ The higher limits of a narrowing triangle (as proven in black), which might be defined as a rising wedge type.
The elevated vertebrae could also be a wider declining route. If patrons fail to penetrate this resistance space, Brent uncooked costs can resume their downward route inside the purple canal.
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2025-03-24 08:57:15