Many experienced traders range across markets. With share and currency markets relatively calm at the moment, attention turns to markets that are moving, or at least have the potential to move. Hello, Brent crude oil.

News over the weekend saw Brent (Or Crude Oil - Brent as it appears on the CMC platform) gap more than $2 a barrel lower. Iran is closer to reaching a binding agreement with the world over its nuclear capabilities, pointing to the possible easing of the current US led sanctions in place against trade with Iran. If sanctions are lifted, another 1 million barrels a day of production officially re-enters the market, increasing global supply by more than 1%. This increase at the margin has the potential to bring lower prices, although trading since Monday's open has pushed Brent back to Friday's levels:

4 hour chart of Brent crude oil

This brings Brent back to resistance (from the daily chart) around $112. Additionally, 4 hour volatility is falling - illustrated by the narrowing Bollinger Bands. The red and green lines represent the inside trading range for the last 4 months, and Brent is near the top of the range. This all adds up to a sell opportunity to me.

A move back through $111 is enough for my trade:

20131127 brent tkt