Brent Crude ⛽️ Oil ⛽️ has passed the main wave W by Zigzag structure (5-3-5). Oil could finish Expanding Flat (3-3-5) or Main wave X at 138.03$ . Of course, the War can change my Scenario, but I don't expect Oil to break 177$ . I expect the Brent Crude Oil to go DOWN at least to the upper line of Descending Channe & Support Zone . Brent...
Brent looks like it's on its way down! Broken below a Falling Wedge (which is rare). The RSI continues to make lower highs. and so the first target is around $67.65
With crude oil prices declining, one might expect that the Federal Reserve's monetary tightening is working and that perhaps a pivot may be on the horizon. However, if we dig deeper, charts are sending warning signs that perhaps crude oil prices, and inflation in general, might remain elevated for much longer than expected. The chart above is a monthly chart of...
Weekly update for WTI Crude Oil. From the beginning of September, the market was forming a descending triangle formation - a classic bearish accumulation pattern. Its support was broken on Friday last week. I believe that it will trigger a further decline. Next supports: 74.5 / 71.5 levels. For entries, consider a confluence zone based on a trend line of a...
Simple technical analyzes. Trying to capture a quick swing upwards before the overall fundamental outlook comes into place.
I believe it's breaking the trend line this week. Also RSI support a short side trade. Sound of recession? TP 85.55 SL 114.88 - plase wait for weekly close to exit trade.
Hey traders, WTI Crude Oil broke and closed below a major horizontal weekly demand cluster. I believe that it is very strong bearish clue and it may push the market much lower. The closest support that I spotted is 66 level. It might be the next mid-term goal for sellers. ❤️If you have any questions, please, ask me in the comment section. Please, support my...
Due to Ukraine-Russian war, CAPITALCOM:OIL_BRENT price was sharply accelerated But from Jun 2022 , price was making lower lows after unable to close the high and defeated. So how far it can go, for that we need to understand price action in higher time frame. Weekly TF (higher Timeframe) : After Pandemic deep , Price clearly making higher- highs and also...
This graph is a representation of my point of you of the futures market (USD).
This graph is a representation of my point of you of the futures market (USD). First SHORT as people will stock up before winter and hold then LONG once winter hits Europe and fear of lack of Russian oil supply will stop in December.
On the monthly time frame we are in a diametric, we are actually in wave E of this diametric. I have such a view for Brent oil .
This is the result of my analysis about Brent. As soon as I said, the next candle was positive
I do hope this does not come to pass, appears we have parallel down in price range of brent crude since 2008. it would fit into the retarded global warming narrative, 'we have to charge more for fuel- Co2 is destroying the planet, not Soros and WEF Schwab , lithium pools, mining and war.'.. no no no, plant food(CO2) is destroying the plants and the planet and you,...
Short brent oil up to 81.98$. As demand for oil declines globally due to coming to the recession, it is only a matter of time before the price hits $81.98. You'r welcome ;)
OIL showed one more bos, and now we have a new price expansion to the downside. Please check the linked ideas for better context. 📉 Text marks: 🔹 IL = impulse leg. Inside of IL we can usually see inside structure, which is secondary in nature, like a market noise, unless you trade it on LTF, as it’s own IL. 🔹 ph, pl = protected high or low, which holds current...
• Increasing bearish pressure on the oil following China's downgraded growth forecasts, lockdown and increasing chance of a recession worldwide • Forecast on oil demand lowered for the months ahead • Technically, the series of higher highs/higher lows has been broken clearly and successfully • Bears in control • Next support is the 85 level (high 2021), followed...
This graph is a representation of my point of you of the futures market (USD).
Prices of petroleum are declining due to increased output by OPEC and United States and weakening demand by the Chinese economy. RSI index of the Daily graph of BRENT is below the neutral line of 50, and MACD histogram, although still above 0 line, is declining. If the price keeps falling, it might test its previous support at 91.50 and if it breaks it, it might...