The price of oil falls the pressure of the dollar

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In the oil market forced the bearish sentiment since the beginning of the week. Rest raw material segment does not give quickness American kancevica, which are rapidly increasing their drilling activity and production volumes, which hit one record after another.
In these conditions, Brent is forced to retreat after failing to break through resistance 65. This morning in Asia, the quotes have time to update at least this week, moving to around 64. Locally exacerbates the current attitude trend of recovery of the dollar. Interest in risk has not returned fully to markets, and sales in the stock markets even prevalent that reinforces the interest in American currency.
Current proclivities USD, of course, look very modest in comparison with the extent of previous depreciation of the currency, but this is enough to put pressure on black gold, which actively strengthened during the sales of “American”. So now it is one of the most important factors of local influence on the behavior of Brent, which should be monitored closely.
From this point of view interesting is the tone of the minutes of the January fed meeting, which will set the future direction of this vector and the dollar will affect the mood in the commodity segment, as the API report, the publication of which was delayed by one day due to holiday in America on Monday.
From the point of view of technical analysis, quotes is, where to fall, and when a new bearish signal of Brent could easily come back under the marker 64.
Michael Mashchenko,
Analyst social network for investors
eToro in Russia and the CIS