Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Follow us on Facebook

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
Greatest oil sale is coming

Greatest oil sale is coming

Information is not investment advice

What happened?

OPEC+ shocked investors last week with its decision to prolong output cuts by 500 000 barrels a day. Besides, Saudi Arabia announced it would keep voluntary cuts of 1 million barrels a day throughout April. That actions sent oil prices soaring. Goldman Sachs and JPMorgan upgraded their forecasts. According to International Monetary Fund, such high oil prices helped OPEC+ countries to meet government expenses. Overall, everybody is happy.

Did OPEC make it right?

The question is when oil will fall? The current high level of prices is artificially supported by OPEC+. Some criticism has risen over OPEC’s decision as analysts believe the alliance risks over-tightening the oil market. Indeed, oil demand is increasing as the whole world has eased restrictions and thus consumption has started rebounding. Airlines and manufacturing industries are getting back to work, people are traveling and driving cars more. That’s why analysts are worried that OPEC is keeping output cuts, sending prices too high, while it’s time to start increasing oil output.

How to trade oil now?

Brent oil is moving in a nice uptrend with all the moving averages in ascending order. The RSI indicator is close to the 70.00 level, which signals the overbought area. Besides, the price approaches the upper line of Bollinger Bands, which indicates the soon reverse down as well. Brent can likely rally to $73.00, 2020’s high. At that point, the price may lose its steam and drop. 

To trade oil with FBS, choose BRN-21K, which expires on March 31. 

Brent_OilDaily.png

LOG IN

Similar

Coca-Cola: time for new all-time highs?

Coca-Cola reports its quarterly earnings for the first quarter of 2021 on April 19, 12:30 MT time. What will be the possible impact on the stock price?

Popular

Coca-Cola: time for new all-time highs?

Coca-Cola reports its quarterly earnings for the first quarter of 2021 on April 19, 12:30 MT time. What will be the possible impact on the stock price?

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later