News, Trends, Analytics 06.11.2019

Iran continues to reject the nuclear deal

Today traders will focus on Tesla’s China strategy, U.S. withdrawal from the Paris Agreement on climate and Iranian nuclear ambitions.



Iran promises to partly roll back its commitments to nuclear deal. Affects Brent

Tesla is going to obtain a Chinese car manufacturing license by the end of the year. Affects Tesla

Wilbur Ross, the U.S. commerce secretary, said negotiators made progress in trade talks with China. Affects S&P500

Russian Ministry of Finance reported a low level of loans, which allowed to keep the level of inflation under control. Affects the RUB

The U.S. officially began the process of withdrawing from the Paris Agreement on climate. Affects Brent



15:00 GMT

Canada releases its PMI. The previous reading was 48.7 points. If the new result is higher it will provide the CAD with a positive stimulus.

15:30 GMT

The US Crude oil inventories report. Analysts expect an increase of 2.7 mln barrels. If the result is lower, Brent price may decline.


Technical analysis


Both the Iranian issue and the progress made during trade negotiations between the U.S. and China have strong bullish impact on black gold. The rejection of the nuclear deal by the Islamic Republic of Iran may provoke further U.S. sanctions, which will affect the export of Iranian oil.

Technical analysis shows that Brent might soon decline, as soon as the chart has reached the ascending resistance level. Besides, one of the Fibonacci fan’s lines puts the asset under pressure.


The currency pair might reach the level of 120,300 quite soon, as the asset is keeping to the channel limits.


The cryptocurrency is among the most actively growing ones. The chart has formed an inverted “Head and shoulders” pattern, which may accelerate growth.


Gold on this day in history

  • Since 2000, November 6 has been a trading day 14 times.
  • On 57% of those days, the asset ended with growth.
  • The maximum reinforcement range was 2.19%.
  • The trend down was limited to 1.39%.
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