BRENT CRUDE is likely to continue lower as the price continues to form lower lows and lower highs.
The daily timeframe is currently showing price retracing back towards the key resistance of 60.30.
If price forms bearish price action we can look for a swing trading opportunity from these lows.
Look at the chart shown here.
As per the analysis of LongBuyLongSellIndicator( Script Below) USOIL entered into long territory.
The BackGround Color also become Green .This shows trend starts for long.
Good Strengthmeters are lined up this candle shown that shown price will move up.
I have done the analysis of 1H 4H D chart all shown bullish signal.
if you wish...
After break down of Symmetrical Triangle for both Brent and WTI Crude Oil chart, this ultra short ETF have spike UP.
I believe oil prices will continue to trend lower due to trade war and possibility on china using iranian oil.
Expecting ultimate price target of this ETF $40.00
Thoughts for discussion.
Hi fellow traders.
Looking at UKOIL right now, we can see that the RSI indicator has fallen towards the oversold region and is currently looking for a rally to the upside. Considering that UK Oil Supply is to remain the same, and with the UK Iran Oil Tanker tensions rising, it looks like UKOIL could look to push to the upside.
At this point in time 64.20ish...
Brent is breaking above a recent high to form a fresh higher high, after the price retraced and found buying pressure at the 61.8% Fib level.
A close above $68 sees no significant resistance until the $70 level and above.
We're holding our long position since the formation of the double bottom pattern on June 13.
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CRUDE OIL Brent
we have a standard symmetric triangle of indecision
with the demand for crude oil suffering cuts it is possible that we will have a greater demand for the supply, so it is possible to value Brent Crude OIL! OPEC + Saudi Arabia and Russia have agreed to a G20 agreement to extend the cut in production for at least 6 months. The agreement is planned...
After a perfect bullish move Brent Oil has reached an area where is facing horizontal resistance, downtrend resistance and it is at the upper end of the uptrend channel.
I am foreseeing the price to come down to the lower end of the channel, at around 64.6 area where it will also be the lower end of the channel.
On the 4H chart I want to see a break of...
Brent crude has fallen almost $15 since its 2019 peak of $75, forming a double bottom pattern which aligns with the 61.8% Fib level of the Dec 24 - Apr 25 move.
Crude inventories came in higher than expected for the last six Wednesdays, which played an important role in the $15 fall.
However, a possible escalation of tensions in the Middle East after two tankers...
Why this is considered for Longhttps://www.tradingview.com/script/jU78tzAr-LongBuyLongSellIndicator/:
1. As per the volume the higher volumes are seen in the chart.Volumes are growing
2. As per the LongBuyLongSellIndicator ,Strength-meters(1 2 3 P D ,Up/dn, PSAR,MA Green Red Line, Red STAR, yellow Star,Green Early Entry stars) minimum of numbers of...
Media reports that "bearish EIA data" is responsible for the decline in US and and UK oil. May be but whatever
The way I see it is after that news, there was a short signal. I was already in, myself, and this just escalated my position.
I like trading both TVC:USOIL and TVC:UKOIL
Have any insights, suggestions or oil trading tips? I'd LOVE to hear them!...
In this video update, we take a look at a swing trading opportunity on Brent Crude Oil
as price breaks through a counter-trend trendline support. If price pulls back to 72.10
we can look for further shorting opportunities down to the 161.8 Fib extension.
The trump administration claim they are for low oil prices but in reality they are for higher oil. Look for a break out to HH. Demand is low so there is nothing driving the price up apart for instability in the oil producing countries. And who do you think is behind this? This time it is not about stealing oil, its about crippling
their infrastructure so the USA...
Brent Crude Seems to have entered an upper range consolidation and might Move in the same range for few weeks. Bulls have definitely lost momentum this time and might head to Accumulation considering the highly over bought nature of crude. The Non stop rally has however disappointed the Bears which will try their level best to bring crude down on any break in...