OPEC meeting today may give a boost for oil prices if they agree on more production cut. otherwise if they fail to reach such sort of agreement, this might have a negative impact on oil prices.
The same for Brent.
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Oil Brent
D1 - The price has formed a triangular formation, which may mean that if it fixes beyond the lower line of the triangle border, the price may continue to fall further along the trend and further reduce the price to the levels of 70.19
When fixing behind the upper trend line, the price may reverse and begin to rise, since a 3-wave structure may...
Hi Fellow Realistic Traders. Here's my latest price action analysis on Oil!
The oil market has recently witnessed a significant head and shoulders pattern breakout, signaling a clear shift towards a bearish reversal scenario. Subsequently, the price has persistently descended below the EMA200 line, affirming the establishment of a robust downtrend. Further...
As We Talked in The Previous Analysis:
The USOIL Price Broke a Strong Support Level (75.55 - 73.89).
This Support Level Becomes a New Resistance Level.
Currently,
The Price pull back to Resistance Line,
And Failed To Create a New Higher High.
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TARGET: 70.50🎯
Brent crude oil looks to have made the 1st leg lower in a new long term downtrend
Trade: Wait for bounce from recent thrust lower to cluster of resistance to go short
Buy zone opportunity on H2. Observe the money management (Use 1~3 % of your balance for each signal) and the stop loss. To notify the free signals, analysis, follow, boosts, comments, and write questions.
UK BRENT OIL
New forecast
The price of Brent crude futures rose sharply in the past sessions, reaching the top of the descending channel and confirming the continuation of the dominance of the downward trend in the immediate term, paving the way for achieving additional gains starting at 80.00 and extending to 78.87.
Therefore the downward scenario will be...
💬 Description : The situation for the Japanese yen is significantly different from other trading instruments. Surprisingly, the yen has a good chance of strengthening against the dollar despite its global strengthening. The growth of the yen is, of course, limited and is currently located at 147.273 . The level of 150.286 acts as quite strong resistance, and it...
Due to the powerful influence that the Brent oil price had on the red cloud
It is expected that this chart can surprise us with another upward movement
hello dear traders.
based on our chart, we identified a Quasimodo setup on Daily timeframe of Brent Oil. If price reaches our zone, it is worth considering going long on Brent Oil.
I'll share updates via new publishings in the future.
Cheers.
Preferred direction: SELL
Comment: This currency pair is actively pressing towards the support area. Most likely, this obstacle for sellers will be overcome within 1-2 trading weeks. Regarding shorter-term ideas, there will most likely be a slight increase, after which the instrument will enter into a local downward movement.
Thank you for like and share your views!
One thing appears to be rather obvious: crude's rally has fizzled out:
Oil - Bulls Will Be Totally Annihilated
And that's bad news for bulls. If crude's rally has fizzled, can natural gas counter rally?
Well, natty hasn't done much all year. One of the reasons is probably that the world, which is controlled by the Communist Party, wants to SaVe ThE WoRlD...
Brent oil is going down to 78.25$ after bullish turn few days ago.
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💬 Description: The key price movements happen around the level of 1.38271 for the USDCAD currency pair. A particularly important point for traders trading on a breakout. Now the instrument has accumulated enough strength, and there is also all the technical base for a comfortable entry into a long position.
The next two days will accumulate important data...
Preferred direction: BUY
Comment: For the Canadian dollar, as part of the general strengthening of the US dollar, we also expect a strengthening of the American currency. Here oil can come to the aid of the Canadian, which is expected to slightly recover in price. However, the local target is still located above the current price, behind the local highs.
...
Oil Brent
W1 - The formation of a 3-wave structure continues
D1 - The price has reached 161 lvl. 3rd wave, which may mean further movement down to level 200 - 261
H4 - The price is in the correctional 4th wave, you can see the formation of an ascending channel. If the lower trend line is broken or fixed behind it, further sales to the levels of 75.4 can...
