Today, UKOIL has seen a move to the upside from 70.88 to 71.75.
1 of the following 2 scenarios could occur:
- Scenario 1: (ideal scenario)
As price has re-entered the daily and hourly resistance region highlighted in a pink/purple box at the top. Price has previously rejected from this resistance zone and on the 1H, there appears to be a double...
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...
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)
A very long uptrend from a continuation is may/june 2017 has been broken. We saw a massive slide where we are now recovering. Is this recovery a continuation of the broken may/june uptrend or is this a minor retracement from the new downtrend formed. Likely buy and sell levels indicated. If anyone care to shed some light on the fundamentals behind oils recent...
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