Contrarian signals everywhere. Russia is risking being cut off from the financial system. This could essentially wipe out the bid for oil as then no one in their markets could access those bids. A large % of the oil market will go offline so I would think we could expect at least -30% decline.
Since its last low, the the benchmark crude Brent recovered pretty well! We expect the price to further increase towards $86.68. Just below that mark, another corrective movement should set in. It is, however, important that the course does not fall below $69.22 now. Stay healthy!
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.
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...
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...
Critical support = $60 Critical resistance = $87.25 Still neutral but leaning towards a break above $87.25, let's wait what OPEC has to say today.
Aside from Crypto and Stocks, I also look at economical indicators, metals, and commodities. I will be adding these to my ideas moving forward starting with the analysis on WTI Crude Oil price. WTI Crude Oil was in a multi-year descending triangle, which it broke out of and retested the top of the trendline in August 2021. The price is on it's way...
I've been expecting this for a while now, since brent hit $75 for the first time in teh recent weeks. but it seems to resilient and doesnt seem to fall back to support around $70. But i think im clocked it... brent has almost reached $73 as calculated. I think we will see a pull up to around $75 again as teh selling pressure has already weakened. But from...
Brent is looking good, and seems to have stabilised. I think we are good to do BUY now. target 1 = 75 target 2 = 80.
Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The commodity Brent Crude Oil (BCO) has been in a rangebound movement since mid-October 2021, with resistance around the 86.50 price level and support observed around the 83.55 price level. Expectations are for a breakout higher towards 89.25. Failure of this move will be seen if BCO breaks...
The course is very busy surging to old highs. We expect Brent crude to push gains towards areas around $90.88, before relaxing a bit. However, this should not last long as we see the price reach heights of above $96 in the mid-run. A good outlook!
When everyone gets bullish it could be a good time to get bearish.. check out the negative divergence on the weekly as well.
Oil Short Setup 🔵 Entry Level: $82.58 🟢 Take Profit: $79.39 ⛔ Stop Loss: $84.29 Reasons: - So far the price is respecting the ascending channel; - I expect an overbought level on the PVS Indicator by the time the price reaches the upper trendline; - Volume is not supporting the up movement;
UK Oil Brent is still moving upwards but look for short timeframe pull backs which you can short.
A global energy crisis is coming and i think in winter we meet oil above $100... not financial advice
Looking at the long term downward trend from June 2008, We can see that there is Resistance at the 86 level. If this resistance is not broken then we are looking at a retracement to 51 level (Fib) Solely based on technical analysis and no fundamentals in consideration.
Yes, the oil market is as bullish as it gets. Therefore, we are sharing our trading zone here. We expect the price to fall in this area and soar from there! Happy trading!