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...
Note: this is 3rd attempt to sell. Second attempt I posted was invalidated. It did not breakout of consolidation period (red box).
Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow border boxes), or five daily candles for solid yellow boxes. If you're a pattern trader or pinbar trader,...
We are basically exactly where we were at in October 2018. About the same things for US equities. But why the divergence with US equities outperforming oil? Look what happened last time stocks become too zealous in January 2018. Correction downward to a near parity in percentage gains. Either stocks are going to readjust or oil is just going to go crazy in the...
Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow border boxes), or five daily candles for solid yellow boxes. If you're a pattern trader or pinbar trader, this might be useful here.
Wait for a significant breakout of the 4hr. consolidation or daily consolidation from red border boxes to...
The Brent crude oil price reached near the $70 mark on Wednesday. The increased was due to the US sanctions against Iran and Venezuela crude oil exports and the OPEC supply cuts.
As for the near future, it is likely that the BRENT.CMD pair makes a brief retracement down towards a support level formed by the 50-hour simple moving average at 67.93.
Brent Crude Oil does not seem to have the support it needs to make the push higher up from the 4H chart. MACD 8H is making lower lows as well.
As long as the 4H 50 EMA holds strong as resistance, the move further down is active.
First TP is at Fib Extension 1 which is 64. If prices still aren't able to find support at that price, then sell further till 1.618 (62)
First sell order was opened on 01-mar-2019
I see Brent going down few next days. So lets make duplicate sell order on it.
Sell - 65.70
SL - 66.40
TP - 60.58
RRR - 1:7
Of course it has smaller TP with smaller RRR. I make close order manually.
The Brent crude oil prices have depreciated about 4.93% against the US Dollar during the last week. The pair breached the lower boundary of an ascending channel pattern at 64.63 on Tuesday.
The BRENT.CMD pair is currently trading near a resistance cluster formed by the weekly S1 and the 50-hour simple moving average at 66.58.
If the commodity passes the...
After reaching multi-month highs and following Trump's tweet on OPEC, oil fell $64.36 and seems to be completing a pullback we forecasted earlier in our analysis. The commodity is now trading close to the lower rising channel boundary, supporting our long view.
The inverse SHS pattern has already been triggered and projects a target of around $76.xx. More...
We decided to analyze the daily graph of oil as we found an interesting technical model called-Doji, What Does a Doji Tell You? analysts interpret this as a sign of reversal. So our recommendation is Sell position
We also added the Fibonacci Retracement to know where we were going
Sell Brent (oil)
Entry Price: 66.30
Stop loss: 67.30
Take Profit: 65
Hi guys, Brent crude formed an inverse head and shoulders pattern on the daily chart and broke above the neckline on Feb 14. The pattern suggests an upside target of around $77, but we might also see a pullback to the neckline before the target is reached.
This trade has also been posted on our Telegram channel, feel free to join: t.me
Brent Crude Oil Futures has a monthly demand level located around $5038 that gained control a couple of months ago. The fact that we have had that monthly imbalance in control allowed us to make too decisions. 1) No shorts would are allowed trading against a big timeframe demand imbalance that has gained control. 2) Only longs would be allowed.
Brent Crude Oil...