wait to see what is the next candle then You can buy BCO if it doesn't break the support line
So, here we go again with the brent crude oil forecast: Scenario 1: Oil prices could reach highs of up to $83 a barrel, which represents a resistance level formed by the descending upper trendline. Scenario 2: Oil prices could fall even lower to about $30 a barrel, which represents a 100% retracement of the previous wave. That level is also in the support zone...
Brent is back to trendline and will find support around 65$ . I think in next months price will rise gradually to last resistance around 87$.
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell.
Oil retracement with fib level/structural confluence ***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any...
In this video update we talk about how Brent Crude Oil could continue moving lower if it can hold below the key support at and lows at 70.44. We have been trading short from the highs and looks like price will continue further despite the market looking overextended to the downside.
Hello friends! If you agree with this idea, please give me a like and a follow so that I can continue posting quality content! The Brent Oil price per barrel has bounced off the support line at $71.20. This has been a particularly strong line of influence this year - with the price touching it 4 times. The red line is my Stop Loss. Good luck! Use risk...
may be dealing with fifth wave expanding diagonal... so buy at lower green trend line
The introduction of US sanctions on Iran has been a "sell the fact" event. Brent crude has broken a long term rising trendline = bearish Scenario A) price bounces to 74.30-75.10, which holds as resistance for another leg lower towards 71 Scenario B) price just drops from current levels to 71
We have already had some great shorts on Brent of the past few weeks and now we have just cleared out the support of $80.00 we can continue to look for the short positions. We have to be aware that the weekly chart is still in an uptrend and until its breaks the weekly lows of $70.34 we should be cautious in holding long term short positions. Looking at the...
BCOUSD, Brent Crude Oil: Forecast on H4- Triangle pattern on H4. --> Waiting break and confirmation !
TP#1 76.00 TP#2 75.00 TP#3 72.70 TP#4 70.00 SHARE YOUR THOUGHTS!!!
Rebounded off strong resistance and downtrend should begin. TP1: 69.90 TP2: 65.75 SL: 73.20 or as per your analysis and risk assessment. Good Luck and Trade Safe!
Brent crude oil Double top resistance setup on daily followed by medium to long term uptrend break and currently retesting. Sell towards retest of the support level below at TP1, chances of it reaching below $60 per barrel is unlikely but possible.