Saxo Group Videos

Videos Channels Search

Lambert: Stockpile decline sparks rally in Brent Crude

The price of Brent Crude rallied Thursday as concerns of oversupply dwindled. Clive Lambert from FuturesTechs notes that this rally has helped recover crude’s losses from earlier in the week. Stockpiles fell 2.67 million barrels the week of May 15, a much steeper decline than had been expected. Crude prices are now near two key support levels, USD 66.00 and USD 65.68, according to Clive. He is looking to structure a trade around these levels and plans on buying on a dip to USD 66.00 with a stop at USD 65.68. He has set a short-term target of USD 67.00, but says that if the trade runs into the earlier part of next week his two additional targets would be USD 67.90 and USD 70.30.

Join the conversation below to be a part of the social trading experience.

Non-independent investment research disclaimer

Full disclaimer

01:14 minutes
Tags: brent, brent crude, brent crude outlook, brent price, clive lambert, clive lambert futurestechs, commodities, commodities markets, commodities oil, commodities prices, commodities supply, commodities trading, commoditiies, commodity, commodity currencies, commodity index, commodity investing, commodity investments, commodity market, commodity markets, commodity oil, commodity outlook, commodity prices, commodity strategy, commodity trade, commodity trading, oil, oil and gas, oil commodities, oil companies, oil company, oil demand, oil drop, oil gains, oil industry, oil inventories, oil market, oil markets, oil news, oil outlook, oil price, oil prices, oil production, oil rally, oil range, oil refinery, oil spread, oil stockpiles, oil stocks, oil supplies, oil supply, oil trading, saxo, saxo bank, saxo bank commodities, saxo bank equities, saxo bank group, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo bank tv, saxo banks, saxo trading, saxo tv, saxo tv clive lambert, saxo tv saxo bank, saxo tv trades, saxo tv trading, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotv, social trading, stockpile, trade, trade idea, trade ideas, trade view, trader, traders, traders tale, traders tale clive lambert, traders tale saxo tv, trades, trading, trading commodities, trading floor, trading floor saxo tv, trading fx, trading idea, trading platform, trading risks, trading strategy, trading tips, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor trades, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloor.com trade ideas, tradingfloorcom

Switch to