Brent Summary of news

On Monday, March 14, according to the results of the day, Brent crude oil fell by 5.73%, to $105.95 per barrel. The downward dynamics intensified against the backdrop of positive signals from the representatives of Russia and Ukraine, giving hope for a de-escalation of the conflict. Investors perceived them as reducing the risk of interruptions in the supply of Russian raw materials to the world market.

On Tuesday, March 15, at auction in Asia, Brent oil fell 3% to $102.36 per barrel. In addition to negotiations, buyers are under pressure from lockdowns in China. The country has recorded more COVID cases this year than in all of 2021. Chinese authorities on Tuesday registered 5,370 new cases of infection with a new type of coronavirus, which is about 2.3 times more than the day before. Scientists say the outbreak is caused by an omicron strain that has reached the country. Today we expect trading in the price range of $100 - 106.

Trading Strategy: Buy as close as $100 targeting $104-105 for a quick up to 4$ per barrel of Profit on the Upside.

If $100 is lost and seen as resisstance, a quick drop towards $96.75 may take place very aggressively.