Baxia Markets
December 02, 2021

Brent Oil suffers the biggest loss in more than a year

technical analysis top header -01

The energy commodity is down more than 15% in only four trading sessions, the price fell to the high 60’s and could drop more in the short term due to some fundamental elements.


The Bollinger bands are very wide, they opened up aggressively, something we had not seen in a very long time, the price trades below the lower band, suggesting that it is relatively low, we might see a small recovery in the short term, but it will be a very slow recovery, possibly followed by a consolidation period.


Brent Oil Nov 25th 2021


The relative strength index is at 27% which is considered oversold, investors might look at this pair and be interested in buying the dip. From a technical analysis point of view, we don’t believe it will continue to fall in the short term as it is already at a relatively low price.


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Subscribe by Email