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.
CL_Brent weekly overview Price is moving to key level $80.41. Also, it is 2 - months high. Near that level, I will wait for my price action signal. Such levels are keys because many traders hide their stops upper it and have set pending orders. I have 2 scenarios which I will use: 1. I will look for short ONLY, If the price will make fake broke of $80.41...
Last post: June 16th. See chart . Review: Price had broken through key support but closed within a zonal area and just above the next pivot support. Update: Price has bounced off support and closed back above the previous support suggesting further strength. Conclusion: Looking for further momentum with the bulls and close above the round number 80 to...
Last post: June 5th. See chart . Review: Price was being propped up by a pivot support zone and the daily 50sma. Update: Price has broken through support with an aggressive bearish bar on Friday. Conclusion: Price is within a support zone that we want to see hold strong. Any further weakness and we will look to cut out of our long trade. Any comments or...
Midterm forecast: Although current trend is uptrend but we forecast a downtrend wave would begin in Midterm. Technical analysis: There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. The...
Midterm forecast: Although current trend is uptrend but we forecast a downtrend wave would begin in Midterm. Technical analysis: There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. The...
Fractals. Because the markets tend to repeat themselves; on a daily chart I marked the fractals in rectangles, we are now in the spot we were last year in september. After breaking the 71 area of resistance, it retests it and goes further up. I expect a run to the trend line and after that, when it touches to see a correction. If it breakes the upper trend...
There are a lot of intraday signals for good setup. But consider the situation at the moment. One of them is now presented on the chart and is ready for implementation
Oil has been contracting like crazy in the past weeks and the breakout will be nothing short of violent so keep it on your watch list.
BCOUSD is approaching strong support at 63.54 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a nice bounce could potentially occur at this level to push price up to major resistance at 66.35 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is seeing major support above 2.1% where a...
Brent Crude Oil (BCOUSD) is tesing major resistance at 66.64 (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) and a strong reaction could occur at this level to push price back down to 64.31 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance at 98% where a corresponding reaction...
Brent crude oil is testing major support at 68.50 (Fibonacci retracement, horizontal overlap support) and a break of this level could potentially drive price all the way down to 65.96 (Fibonacci retracement, horizontal overlap support). It is important to keep an eye out on our long term ascending support line too which could serve as potential intermediate...
Brent crude oil is starting to show bearish signs and a potential reversal. Our major support remains at 68.60 (Fibonacci retracement, horizontal overlap support) and a break of this would trigger a bearish move down to support at 65.98 (Fibonacci retracement, horizontal pullback support). We can see that price has made a recent bearish exit of an intermediate...