Oil coming into a key area at the bottom of an 18-month structure. Typically I would wait for this to fully correct (below the 18-month structure) and then make a decision on how to trade it. But I think the most glaring thing about oil, is the fact that the all time high was set in July 2008. Lots more money out there these days; lot more drivers too. Economy is...
With a high degree of probability, the price starts its downward path downward. It is now expected to fall to the level of 1.27283. Before that, the price will test the level 1.28371. In the area of this level, the formation of the "head and shoulders" reversal pattern may be completed also. ------------------- Share your opinion in the comments and support the...
I understand that institutions as well as market technicians/experts in OIL markets are very bullish on oil yet I believe that oil is deceiving therefore I see oil is extremely bearish hence i did not add entry or exit points for oil because this analysis is medium/long term trade and most people day trade plus my target is inconceivable.
Breakdown of resistance and its retest to support will mean the continuation of the uptrend
The overall decline of Brent crude benchmark prices from $86.70 per barrel to $65.72 went within the five-wave pattern. Yet, it could possibly transform to an ABC correction with an A wave that we are witnessing now, or we may have an incoming bearish trend, but we may certainly depict one more downside wave. The first wave that finished from $86.70 to $80.20; The...
After a drop to $69.28 per barrel Brent crude prices quickly rebounded to the upside on Wednesday touching $74.57. And there are several fundamental and technical reasons for it.First, gas prices in Europe skyrocketed to $180 per MWh for ICE Dutch TTF January gas futures on Tuesday, or by 22.7% in a single day. This lift off of gas prices also pushed crude prices...
USDWTI H4 Still in that lower low lower high sequence as highlighted in the above rundown. The first trading zone offered just 1R, enough to bullet-proof and eliminate risk. Price pushed beyond resistance and we are now back on that 71.50/b. If we see rejections from here, we could trade back down towards sub 70/b and respectively 65.
Prices are on bearish momentum and abiding by our descending trendline. We see potential for a dip from our sell entry at 74.1 in line with 161.8% Fibonacci projection and 61.8% Fibonacci retracement towards our Take Profit at 71.25 in line with 61.8% Fibonacci retracement . Technical indicators are showing bearish momentum. Any opinions, news, research,...
In order for the price to go further - up, a small correction is needed, at least to the central line of the wedge
It's about technical and don't forget to put SL and manage it,
Traders, I trade UKOIL (Brent) mainly because of GBP factor but this idea can be applied to USOIL (WTI) as well. There is a head and shoulders pattern on Brent but there is a gap left too. Gap is present right at the completion of a W pattern which can give us very good short opportunity. If the market does not go up there to complete the W pattern then break and...
Hey guys The number of case new version of Covid 19 (Omicron ) is increasing in EU and UK this week so and the demand of Oil is decreased every week . I believe that the oil price is going down again
● CFDs on Brent Crude Oil ( UKOIL ): 🕐 1M "Fig. 1" The development of the ending diagonal is expected within the wave (V) of ((III)) . _______________________________________ ● BCOUSD (OANDA): 🕐 2D "Fig. 2" From the end of wave II, there is a five-wave structure — an impulse that could be wave Ⓐ . If this assumption is correct, then the...
One of the simplest way to invest/trade Oil Companies is to study the Brent/WTI price movements because they are very correlated. Every oil price crashes, oil companies will follow as well. Commodities is very volatile and for that comes an opportunity to profit. In the last 50 years, every time the stock drops more than 50%, it follows by a rally. For this...
Since 2008 based on the charts, Brent crashed (75% fall from it's recent structural high & without 61.8% retracement on its way down) three times. On average Brent crashed from its recent high 75% every 4 years. Each time of the crash, the price of the oil rallied at least 62%. Actionable : when Brent falls & crashed again within the next 4-6 years, do not...
Oil moves down to support levels. Everything is stable, the oil price will go up again, but it needs a small correction
USDWTI H4 Another pair which typically offers us a lot of trading opportunity and volume, similar to gold... However, sitting relatively flat and in consolidation, not really the markets we want to be trading. However, we can still mark our zones and sit prepared. 72.80 region is possible shorts as we have now exhausted on previous supply and resistance. But...
The chart pattern may give a clue for which way the Medium Trend may go?