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?
Hike in interest rate = Dollar Strengthen = Commodities Weaken. With Omicron Virus, with U.S. to sell 18 million bbls of oil from reserve on Dec 17 (Extra supply), we may see more downside for Brent.
Welcome to a new analysis after a longer pause... An interesting one. - Broadening Top with a fake Breakout at Nr.6 -fib retracement at50% - monthly chart: currently in heavy resistance zone! - RSI approves moves
An update on below idea: Oil hit the 0.382 extension exactly around $84,07 and has since fallen sharply. In my opinion this is the start of the correction of the move up from the lows in April 2020 to the highs in October 2021 which could end in the $50 to $58 area. Just theorizing here that we're currently in the middle of wave 3 of A where A would complete...
The price renewed the local minimum, having made a false breakdown, rolled back and returned to a long zone relative to the support level. I am waiting for the consolidation above the level of 70.67 and the price recovery to the resistance of 73.62 Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻