Q: What has the highest probability of occurring? Since February 2021 price has been stabilising on $65 per barrel. There is a combination of 2 classic patterns forming at 65.00 support. The inverse head & shoulders, which is in the process of forming the right shoulder, is currently invalid. This pattern projects 85.25 as the target. The double bottom,...
Oil is in the daily trend of correction In general, the $ 2 climb today is considered a correction, and the target for oil prices this week is $ 64. Oil is in the daily trend of correction In general, the $ 2 climb today is considered a correction, and the target for oil prices this week is $ 64
''One way to control inflation is to have cheap Oil around'' the Fxprofessor News: Brent crude oil price down below $67 per barrel on London’s ICE first since May 24 The price of WTI oil also went down by 2.52% MOSCOW, August 19. /TASS/. The price of futures contracts of Brent crude oil for October 2021 delivery went down by 2.18% on London's ICE on...
OPEC monthly report was issued a few minutes ago, and the report was not positive for OPEC+ and the oil-producing countries within the group, led by Saudi Arabia. OPEC kept its forecast for oil demand in 2021 unchanged at an increase of 6 million barrels per day, bringing the average to 96.6 million barrels per day, and also kept its forecast for the growth of oil...
For Oil Related Stocks.. Brent Crude Oil / UKOIL possible reaching its multi year top and forming an expanding flat pattern on its Super Cycle wave which is Wave (b)(Yellow) where price of Brent Crude Oil Could Oil Could reach at around 9.00 ?! as 1)Major Demand Zone 2)The Lower Trend line of Wedge Pattern .3) Pitchfork Line Support .
Brent oil struggles to keep bounce off 200-SMA above $76.00 as sellers attack 50-SMA amid early Monday. However, MACD is about to positive while RSI is strong as well, not to forget the black gold’s sustained trading above the key SMA. Hence, oil buyers are bracing for a leap towards the monthly resistance line around $79.00, which in turn will refresh the...
#usoil long term weekly chart. I think we are heading to somewhere around $80 to complete wave 3 b4 the wave 4 pull back then finally finishing wave 5 at $108
As regards the oil market, we are still waiting for the bears to fight back and pull the price under $64.56 and $60.26, respectively. By doing so, they’ll enable us great entry chances for the upcoming bullish run which we expect to reach way above $80 in the longer run. Only a premature breakout above $71.36 would make us change this scenario. Keep trading!
After strong friday Brent is facing some downside. In expectation further plunge a double top is in.
Brent Oil trading within the Apex we are soon to get a breakout or breakdown . As detailed on the chart we can see that the .75 Fib has been a Strong support for Brent since December 2020 and is still respected . With that said we have a measured move of around 15 percent for this to extend its uptrend into the 80 dollar zone or retreat back to the 56...
Reversed off overhead resistance into our 65 buy zone. Would like to see daily bullish candle to confirm support. Bull flag still in play
Hy trader good mood and profitable deals! Analysis: 3-way deathcross continuation pattern Set up: Short Trigger breakout, bullback Wait for the triangle breakout until the 4h candle closes under the pattern, or trade the bullback! Keep in mind that things can change! If you like this idea support me with likes and comments!
It was too much for today sell in ~ 64.50
Brent Crude looks like it needs a retracement after its stellar recovery. On the weekly chart we can see that its overbought on all three signals. Oil producers need the price to stay above roughly $40 a barrel. In a controlled environment with limited exogenous impacts the price of oil should stay above $40 a barrel. That being said, $70 a barrel isn't going to...