BRENT/USD is a commodity often used for trading based on fundamental analysis. The oil prices are sensitive to the global supply and demand balance, OPEC policies, U.S. and China’s crude oil inventories, shale production, geopolitical factors, and logistics.
Traders Union offers Brent technical analysis provided by our analyst Anton Kharitonov. Additionally, on this page, you can access indicator-based weekly and monthly price forecasts, as well as an Brent/USD online Forex chart to keep track of the current trend.
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This article does not contain recommendations for buying or selling currencies. The BRENT/USD forecast and signals are made on the basis of independent assessments as of the moment. Please consider the risks when making an investment decision.
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Live BRENT/USD priceOil to US Dollar
Traders Union offers Brent crude oil technical analysis and signals, presented by the leading Forex analyst Anton Kharitonov, as well as other experienced analysts. The BRENT/USD analysis is based on a combination of current fundamental data, news, and technical analysis, providing traders and investors with valuable and well-informed insights.
BRENT/USD indicator-based signals are prepared automatically on the basis of technical analysis of moving averages and indicators for each timeframe (interval) separately. Select the timeframe you need to find out BRENT/USD signals.
Note:
Signals may differ on different timeframes. If you want to hold the BRENT/USD for longer than 1 week/1 month, it is best to use the signals on daily and weekly timeframes. Timeframes from 5 minutes to 1 hour are best suitable for short-term transactions.
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The following tools and instruments were used for making the prediction:
Basic instruments of technical analysis. The forecast relies on basic technical indicators. The analysis was performed mostly on medium and long-term time frames for more accurate results.
Statistical tools that allow experts to evaluate the probability of an event that may influence the prices of cryptocurrencies.
Individual features of a cryptocurrency startup and its competitiveness: number of tokens in free circulation, restriction of emission, potential usefulness of the startup for the society, roadmap and development plans of the startup, potential vulnerability of the startup’s blockchain, examples of hacks, failures in the entire history of cryptocurrency existence, capitalization dynamics compared to key competitors, share of major coin holders and other subjective factors.
Note:
This price prediction is based on current information and historical data. Strong fundamental factors capable of radically changing the overall situation in the cryptocurrency markets, impacting the prices of certain cryptocurrencies and subsequently changing the price trend, may appear in the future. The price predictions are updated regularly based on the latest data.
This article is created for informational purposes only and does not constitute investment advice. Be aware of the high volatility of cryptocurrencies and consider these risks when making investment decisions.
The best indicator is the one that you can use and that provides you with accurate signals. Use reversal patterns, levels, trend indicators, such as Alligator, Momentum, and oscillators like RSI, MACD.
Brent’s future will depend on fundamental factors. However, it is unlikely that the price will rise higher than USD 140 or drop lower than $30. Analysts believe that BRENT price could amount to USD 37.51 by the end of 2024.
News trading – fundamental analysis. Setting pending orders at the time of release of OPEC decisions, U.S. crude oil inventory reports, and other such factors can be part of a fundamental trading strategy. From the technical analysis perspective, channel strategies could be quite effective.
Oil prices move in both directions under the influence of fundamental factors. You can determine the direction of the current trend by using the Market Sentiment indicator or trend indicators.
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.
