UKOUSD - Intraday - We look to Sell at 84.00 (stop at 85.30) A Fibonacci confluence area is located at 81.10. Selling posted in Asia. We have a Gap open at 83.88 from 22/11 to 28/11. The sequence for trading is lower lows and highs. Previous support, now becomes resistance at 83.94. Our profit targets will be 81.10 and 79.90 Resistance: 83.88 / 83.94 /...
Brent Oil is in a Macro Selling Phase until it reaches mid - low 40's before we began a major Oil and Commodities Bullish Super Cycle which will see Brent hit at least 150$, maybe even up to 200$, depending on how intense the 'Trend ending price spike' will be.
Bear Rectangle is forming on Sasol as it previous did a few months ago. There are bearish signals as the downtrend is continuing. The 200 > 21 >7 MA which once the price breaks below R277.95 we will have our next target at R225.43. This confirms with the ongoing drop in oil price...
Rectangle Formation has formed on Daily and it's anyone guess where it's going. On the bearish side, 3 Black Crows candles have formed as the price touches the medium beartrend line. We need to wait for a breakout before we do anything... Bull $120 Bear $67.65
HELLO GUYS THIS MY IDEA 💡ABOUT USOIL is nice to see strong volume area.... Where is lot of contract accumulated.. I thing that the buyers from this area will be defend this LONG position.. and when the price come back to this area, strong buyers will be push up the market again.. UP TREND + Resistance from the past + Strong volume area is my mainly reason for...
TVC:UKOIL is back at the previous support level. Will it find support again? If $85-ish fails then $76-ish becomes the next potential support level. What does this mean for JSE:SOL NYSE:SSL ?
Brent Oil looking long as well. How ever, it's not strong. If you take it, it will go slowly up, but it will be quite week. I prefer to wait for a short one at the last top.
As the CPI numbers and the inflation numbers starts to slow and decrease, and banks are saying that 2023 inflation will drop even more. The oil is facing more down moves. The Saudi Arabia, needs a $75 per barrel to cover the government budget. but what if the decrease production to keep prices high, will be enough to cover the budget ?! In this chart, we are...
Potential Ascending Triangle on Brent Crude forming. We are just waiting for the price to break up and out of the resistance and then the first target will be around $122... Moving Averages look good 7>21 <200
With the help of support and resistance points, we can take long as well as short Brent crude oil against USD
We're currently observing a downwards trend that should turn once the blue wave is completed. Thereupon, Brent should move above the $105.42 resistance into the turquoise target zone between $104.29 - $116.05. After hitting the target zone, Brent should turn and drop below the support at $83.61 directly into the green target zone between $77.10 - $42.16. After...
The price has been able to rise higher than the previous peak and this is one of the bullish signs. Price is likely to test the trend line, which I think can be crossed given the strength of the trend. Or continue to correct after the test and move from the $87 support area to the downtrend line.
Cup & Handle has formed on Daily and now we are just waiting for the breakout of the brim level. 7>21 <200 almost perfect. We just need the price to cross above 200MA First target $122
As its clear from chart, us oil has broken the blue down trend / bull flag and got a nice push up side, As dollar index is in corrective mode and we can see some more pullback in dollar index, We are looking oil as a long opportunity, any pullback around 90.70 -90.80, will be a long opportunity targeting 97.50 -97.80. The idea will be considered as invalidated...
UKOIL Sell View with TP 94.5-93.8 My technical setup is based on retracement fibonacci ( around 161.8 in H4) + S&D + trend channel
Expect to go up a little bit more to form double top Bear Delta divergence... Price goes up while momentum is going down...indicator for a reversal Gap to be filled down bellow and lows to be taken
The candlestick pattern at the lowest low is very probable to be the pivot point for the downward consolidation of oil. October also can be closed by a green candle after 4 months of drop. The political and economic conditions are making the pivot more valid at the moment.
I dont like brent but i like money and risk management is the key