If respite do not come for Brent Oil in terms of buyers to increase demand between 50 and 55.25, the black gold is likely to make a higher low at around 36 in a couple of months. Looking at the chart, it took Brent Oil about two and half years to rally from its low at 27.08 in January 2016 to its high at 86.72 during October 2018. Since after that, it has being on...
Brent Crude Oil heading to 52.00-50.00 area possible sell
BCOUSD, Sell on H1. H1: - Test resistance D1 and move down - Downtrend forming - Tendency: Downward - Below resistance and 2 EMA -> Waiting re-test resistance --> Give signal candle ==> Sell ( Continuous downtrend - Minor downtrend)
BCOUSD, Continuous downtrend on H4. H4: - Structure: Downtrend - Tendency: Downward - Test resistance daily and move down => Sell
BRENT CRUDE OIL is continuing to form lower lows and lower highs on the daily timeframe. Oil prices look bearish here with the monthly lows of 52.00 likely to be targeted for long term swing positions. The daily chart suggests we could see a retracement back into the lows of 60.32 where we could see sellers continue the downtrend.
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...
A broken trend line should give you lower prices of oil at around $40
Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
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...
Hi there. Price is moving impulsively to the downside. Wait for the price to complete the continuation pattern that its forming and watch strong price action for sell.
Looks like Brent Crude Oil could be headed to $110 soon as it seems to be on an impulse wave up.
Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
H4: - Double bottom forming - Break resistance and confirmation => BUY
BCOUSD, Pullback: BUY H1: - Test support daily and move up - Breakout minor trendline and above -> UP
The past month was super bearish. As looking at the past oil price is always take longer to climb up but it collapses in just a few days. With the production cut from OPEC, I highly doubt that we will see below $50 again. Simple Fibonacci retracement shows below $51.5 is a full 61.8% retracement from the bullish run that started in December. It is better to fill...