On its way down, Brent got stuck at the support line at $97.56. However, we expect it to struggle through and to make it into the blue zone between $94.50 and $89.73, where it should finish wave 5 in blue and wave a in turquoise. Then, Brent should move upwards, crossing even the resistance at $107.64, above which it should complete wave b in turquoise....
Despite concerns about a potential recession, oil prices were still around $114 a barrel today as supply concerns outweighed concerns about a potential decline in demand. In the latest developments, workers in Norway went on strike, which is expected to cut the country's oil production by around 130,000 barrels a day. Despite the global economic recovery, oil...
Brent Crude is around $111.36, as investors grew concerned about a potential global recession and the tight supply of crude. Data from the Organization of the Petroleum Exporting OPEC Countries showed that its output fell by about 100,000 barrels per day in June. Libya's oil exports have dropped to between 365 and 409 thousand barrels per day, which is about 865...
Hi fellow traders, Brent crude oil is completing the flag correction in WXY formation. We can look for downside from here. Target 90 area. Goodluck!
After it has knocked at the resistance line at $112.43 already twice, we expect Brent to rise above this mark and into the white zone between $113.88 and $123.14 to finish wave (2) in white. Afterwards, Brent should fall below the support lines at $104.67 and $97.56. There is a 28% chance, though, that Brent could soar through the white zone and climb above the...
1)On Charts : Charts consist of 3-Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed ).. 2)On Elliot Wave / Market Structure : Unlike Textbook written rule : ALL Impulsive wave comprise of ONLY a-b-c sub-waves NOT 1,2,3,4,5 waves.. AND there is NO Truncated 5th wave BUT ONLY wrong wave counts... Disclaimer
Brent crude futures were trading at around $121 a barrel on Monday, after Saudi Arabia raised its oil prices for July. The country's official selling price for light crude was also raised. While it kept the premium for US barrels steady, it also raised prices for other products . The gains were largely due to last week's decision by the Organization of Petroleum...
Last week's news headline, "OPEC sticks to production plan as high oil prices boost economy". We could almost say oil is a necessity in our daily lives. For transport, for heating in cold countries. Although we face high inflation, and a possible recession, would we expect oil to hit a point of demand destruction? At this point, I doubt so. So there is a real...
Brent is currently glued to the resistance at $114.74, where it has finished wave b in blue. However, we expect it to let go of this mark soon to fall into the turquoise zone between $101.67 and $99.83. There, it should complete wave a in turquoise and move back above $104.67 afterwards to finish wave b in turquoise. After that is settled, Brent should gradually...
Crude Oil (ICE) Brent - "Big-picture" Bullish! A proportional countertrend retreat should set the stage for the next leg of the advance. It's way too early to get a read on a potential shape for Supercycle wave (b) , but it should last for years and potentially retrace as much as 90%-105% of the wave (a) decline. Stay tuned!
Beep beep, beepbeepbeep, beebeepbeepbeepbeeeeeep Brent seems to have afforded a parking assistant, judging by the neat way in which it has entered our white zone between $106.12 and $99.47 to finish wave c in blue and wave (B) in white. We expect it to turn around soon and to head for the next parking lot above $114.74, the green zone between $117.78 and $133.52....
UKOIL LONG - Buy Entry - H4 Chart Buy @ Market Symbol: UKOIL BrentOil Timeframe: H4 Type: BUY Entry Price: Buy @ Market Resistance @ 117.209 Resistance @ 114.778 Resistance @ 111.456 Support @ 105.692 Support @ 104.437 ✅ If you liked this analysis, please consider Following and giving it a Thumbs Up 👍 ✅ If you have any feedback or questions,...
Brent has been climbing and climbing and climbing and has actually maxed out the space until $114.74. There, it has finished wave (A) in white, butting its head at the resistance line, and subsequently turned around to move downwards. We expect Brent to drop into the green zone between $106.12 and $99.47 to recover and to complete wave (B) in white. Then, it...
as we expected,oil hits the first target and we gonna see a correction before the continue of the ride on this trend to the second target the stoploss is on break even and could move it below kijunsen to protect profit and still a chance to enter long after breaking the resistance and test it with a good price action candle and chikouspan break the cloud
A break of down trendline, may we see a change in direction of price to the up side. lets buy BLACKBULL:WTI at current price.
as we exactly expected ,oil prices bounced off the strong support with zero risk and now is on their way to reach target
Hello Traders I posted an idea on WTI earlier today. This one is the same idea on UKOIL. Here is a similar picture despite that the resistance above the price is a bit stronger. The support levels are similar to them on WTI and the downside move should be for both around 22%.
There is something call “ying and Yang” . “Supply & demand.. “ ..”Dual polarity ” ..”karma/ cycle”.. and “gravity “. All = “Nature will find its own balance = ying & Yang”..