This graph is a representation of my point of you of the futures market (USD).
This graph is a representation of my point of you of the futures market (USD). First SHORT as people will stock up before winter and hold then LONG once winter hits Europe and fear of lack of Russian oil supply will stop in December.
On the weekly chart, there is ether a strong Falling Wedge in the making. If the price breaks up and out of the Falling Wedge, we can expect the price to move up to $155.000 If Brent Crude forms an M formation (Double top), it's possible for Brent Crude to be bearish and on the way down. But we need the double top to form first. What are your thoughts...
The bears have their territory under control and plan to extend it further, more precisely, till the blue lake between $76.67 and $70.61, where they should fish for the end of wave 3 in blue. However, there is a 38% chance that the bulls could make an appearance and challenge our furry friends. This challenge, though, should only be successful if they can make it...
This graph is a representation of my point of you of the futures market (USD).
Brent Oil is in correction and very likely can test the horizontal trend line.
Was known in the ChART$ by these Demonic elites who rule the world and control the money supply. They knew what was coming, their point was to capitalize on it and own everything at the end of it all. Turn you into slaves. Lucky for us God is in control and these diabolical plans always fall apart because of the Spirit that God breathed into humanity. They...
Brent oil breaking out after a very long down trending period, now targeting $112 a barrel.
On its way down, Brent got stuck at the support line at $97.56. However, we expect it to struggle through and to make it into the blue zone between $94.50 and $89.73, where it should finish wave 5 in blue and wave a in turquoise. Then, Brent should move upwards, crossing even the resistance at $107.64, above which it should complete wave b in turquoise....
Have we just completed Elliott wave 1 of a crude oil bull market which I would argue started in November 2021 with Pfizer vaccine news?? Others may say it started from June 2020 after the May 2020 crash low touching zero or below briefly. I have a question for viewers if Elliott waves up to 5 does indeed play out again for oil (and commodities in general) how...
Brent Oil looks like to continiue short. remember about R/R
Following daily chart After yesterday's clear breakout, TP1 131.2 TP2 140.7 SL. 103
Brent crude completed its 'A' wave after a WEDGE break-out. It reached 76.8% of wave 'A'@$115.60, and started to fall Economical slow down will not support its way up, the result is formation of wave 'B' downwards until 61.8% of wave' A' ($60) the maximum time as per Neo wave is june24
Despite concerns about a potential recession, oil prices were still around $114 a barrel today as supply concerns outweighed concerns about a potential decline in demand. In the latest developments, workers in Norway went on strike, which is expected to cut the country's oil production by around 130,000 barrels a day. Despite the global economic recovery, oil...
Brent Crude is around $111.36, as investors grew concerned about a potential global recession and the tight supply of crude. Data from the Organization of the Petroleum Exporting OPEC Countries showed that its output fell by about 100,000 barrels per day in June. Libya's oil exports have dropped to between 365 and 409 thousand barrels per day, which is about 865...
unless the supply chain is stabilise I don't see the oil falling anytime soon from a technical and fundamental point of view, this is just an exercise of the forecasting part of the oil, currently a correction has happened, after the the final decision on the adhesion of Ukraine in the EU this might happen, depends on how soon
I'm proud of this because it has taken me over 50 forecasts on oil to get 1 right (Even though it was shy a few pips). But I guess the older traders were right in saying "Always believe in your analysis". Just to show how crazy it is, Look at even how I drew the pullback.🥲🥲