After almost 7 years of bearish price action, oil services will be essential in the transition to electric vehicles and clean energy. Most automakers are shooting for 2025 to have an entire EV fleet or mostly EV fleet. That's a 4-7 year runway for a bull run; assuming that it will take time to transition and for all automakers to be on the same page. Freight and...
Here on Brent Oil we have a bat pattern (much cleaner than West Texas) the Grey Box indicates some areas of confluence. the middle of the box is the .886 of the XA leg. the low side of the box is the 1.618 Fibo Extension of the ABC legs of the pattern and the top range of the box is 2.0 range of the BC leg. this area has proven on the left to be quite powerful...
Here on Oil (texas tea, black gold) we have a (dirty) bearish Bat pattern. the yellow line indicates the completion point of the pattern. Be mindful of the pattern completing throwing a few indecision candles and quickly reversing. the yellow line indicates an area of strong contention. Looking left we see the majority of the times price recaches this area price...
Have been sitting on my hands with OIL / WTI these days, took 3 losses in a row, that's when I just walk away. Here we are again. I have laid out the idea in the post, but...this is a crazy time to be trading oil. Use risk management!
Ok...let's see how this one rolls out, see the trade, take the trade...all year long. Note the gravestone doji...on an uptrend is more significant over a downtrend. Sure one could cry double top on this pattern. Bear signal present on the heatmap indicator. If it does drop I think I can sneak in a 3.5:1 Risk Reward. We will see.
The previous trade hit take profit heading up for the 1:4 risk to reward! next move up is making itself known stay tuned.
The upcoming Death Cross suggest that the Brent🛢 is going to fall. However as we have strong support levels indicated below and the RSI is lying in the oversold area we shall expect the bounce from one of the levels indicated below. If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section.
+0.91 % on Brent🛢. According to the Volume spike the price is goin to set up above the 0.5 fib lvl and expected to rise up to 42.63 to retest the 0.382 fib level with the possible rise 0.236 fib lvl up to the 42.95. If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section.
+ 1.94% on Brent 🛢. ROC 15 has been predicting the price movement pretty well and together with the overbought of Stochastic suggest the decline of the price! If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section.
Brent 🛢 was rejected by the 43.17 level and we managed to make +1.07%. Bullish Harami pattern and the oversold at the Stochastic suggest that the price is going to test the 42.63 level and if broke the 43.17 another test can happen again. If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section.
Brent 🛢 is rising in the smooth Uptrend and is forming the Ascending triangle. The golden cross and the swing at the ROC 9 suggest the price will continue its rise up to the test of the 43.17 level. If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section.
The things keep going well for Brent🛢 . Though yesterday there was no post here those who shorted the pair managed to take +1.15%. The ROC swing was denied and the Golden Cross suggest two options for us here : either the sooner test of the resistance or the bounce from the local support and the following test! If you like the idea PLEASE don't forget to hit the...
+2.44% On the last deal with Brent 🛢. The swing at the ROT and crossover at Stochastic provide the bullish signals. Moreover , price could not break the local Support line and the BOUNCE is the most likely scenario! If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section!
Easy +3.48 % on Brent Oil🛢alone managed to predict our previous forecast using the basic TA. At the moment we can see the occurred Death Cross and the RSI overbought zone the price most likely to pullback from the Resistance zone. If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section!
Seemingly in the middle of a tug-o-war exhibition, both bears and bulls are jocking hard for position on USOIL. I always say that this particular instrument is the bloodline of America. Considering the political and socioeconomic status at this time, its only right that the price of USOIl metaphorically also becomes unstable. With COVID-19 continuing to be the...
AS YOU CAN SEE, I DON'T USE ANY ON CHART INDICATORS SO I'LL KEEP THIS SHORT AND SWEET. FK ALL THE USELESS TECHNICALITIES ABOUT EMAs, ETC. USOIL LOOKS TO SLIDE DOWN TOWARD $36.10 AS CONTINUED EFFORTS TO RAISE PRICE HAS FAILED. FALLING UNDER GROWING PRESSURE AND MOMENTUM, WE COULD VERY WELL SEE PRICE CONTINUE TO SLOWLY DESCEND OVER THE COMING WEEKS. RECENTLY...
As far as an eye can see, the oil has been reacting to 20 MA levels. Most of the reactions were double bottoms, some were a little more distant. But it is the level that holds strong and vigilant. I am betting that it will be reacted to again with SL below latest significant low.
Here on UK Oil we have a bat pattern and the PRZ is lined up beautifully with a major resistance level!