How will Brent React to Crude Oil Inventories?
What will happen? Crude oil inventories will be announced at 17:30 MT (GMT+3) on Wednesday, September 29…
Oil spikes on the tweet by Iran's foreign minister
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
On H4, Brent's price has tested the $65.2 level. If this level is broken, the next support will lie at $65.76. From the downside, the first support will lie at $63.46. After that, bears will pay attention to the $63 level.
WTI has touched the resistance at $59.42. If it is broken, the next level will lie at $59.85. Bears will be focused on the downward movement to the $57.80 level (50-period SMA). The next support will lie at $57.2.
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High-Impactful Event for Forex: US Retail Sales
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
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