UK Brent Oil 4H :Support further decline
UK BRENT OIL
New forecast
The price of Brent crude futures traded with strong negativity yesterday, succeeding stably without support at 86.93. We note that the price broke this level and closed the daily candle below it, heading towards achieving a further decline, with its next target reaching 85.14 level, by breaching this level will open the door against our targets at first will reach to 84.50 level ,it will extend to 83.80 .
Therefore, the downward trend scenario will remain valid during the coming period, supported by the negative pressure formed by the moving average 50, taking into account that stabilized above 86.93 will lead the price to begin recovery attempts and achieve gains and postponed the bearish waves.
The expected trading range for today is between support 83.80 and resistance 86.93 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 85.14 ,83.50
resistance line : 86.93 , 88.36
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price of Brent crude futures traded with strong negativity yesterday, succeeding stably without support at 86.93. We note that the price broke this level and closed the daily candle below it, heading towards achieving a further decline, with its next target reaching 85.14 level, by breaching this level will open the door against our targets at first will reach to 84.50 level ,it will extend to 83.80 .
Therefore, the downward trend scenario will remain valid during the coming period, supported by the negative pressure formed by the moving average 50, taking into account that stabilized above 86.93 will lead the price to begin recovery attempts and achieve gains and postponed the bearish waves.
The expected trading range for today is between support 83.80 and resistance 86.93 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 85.14 ,83.50
resistance line : 86.93 , 88.36
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached:
UK BRENT OIL
New forecast
The price perfectly fulfills my last idea and price reached to our second negative target +180 pip.
The price of Brent crude contracts fell during yesterday's trading and reached our second target at 85.14, and now it stabilizes below the 86.93 level, so that the negative pressure remains in place for the coming period, waiting for it to visit the 85.14 level again, and by breaking it, it will reach 84.50 and 83.80.
From here, we expect to witness new negative trading in the immediate term, supported by the negative pressure formed by the moving average 50, taking into account that breaching 86.93 will lead the price to begin recovery attempts in the near term.
The expected trading range for today is between support 83.80 and resistance 86.93 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 85.14 ,83.50
resistance line : 86.93 , 88.36
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
UK BRENT OIL
New forecast
The price perfectly fulfills my last idea and price reached to our second negative target +180 pip.
The price of Brent crude contracts fell during yesterday's trading and reached our second target at 85.14, and now it stabilizes below the 86.93 level, so that the negative pressure remains in place for the coming period, waiting for it to visit the 85.14 level again, and by breaking it, it will reach 84.50 and 83.80.
From here, we expect to witness new negative trading in the immediate term, supported by the negative pressure formed by the moving average 50, taking into account that breaching 86.93 will lead the price to begin recovery attempts in the near term.
The expected trading range for today is between support 83.80 and resistance 86.93 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 85.14 ,83.50
resistance line : 86.93 , 88.36
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached:
UK BRENT OIL
update
The price perfectly fulfills my idea and reached to our profit + 70 pip .
you can close your position or put sl at entry.
so now to be continue at the bearish trend should stable under 85.14 and then will reach to our another targets .
update
The price perfectly fulfills my idea and reached to our profit + 70 pip .
you can close your position or put sl at entry.
so now to be continue at the bearish trend should stable under 85.14 and then will reach to our another targets .
