That's a bottom for me on crude, possible downside to $58 as daily stoch rsi looks overbought but the bulls can easily keep the LTF overbought long enough to make a stronger push back up to ATH, then allow for a higher high on the LTF b4 finally capitulating up to the W5 1.618 fib extension target $108.
An update on below idea: Oil hit the 0.382 extension exactly around $84,07 and has since fallen sharply. In my opinion this is the start of the correction of the move up from the lows in April 2020 to the highs in October 2021 which could end in the $50 to $58 area. Just theorizing here that we're currently in the middle of wave 3 of A where A would complete...
At the end of the last week and after the sudden emersion of omicron coronavirus, the price of oil faced a dramatic decrease! In the beginning of this week, after a slight consolidation upward, it has fallen even more dipper than the point which was closed previous week. Right now in this position I guess that the upward correction is about to finish and in...
Update on an oil theory that started back in November 2020: This idea was that a wave 4 completed at $33, however the move up accelerated and it quickly came apparent that the move up from $33 was not wave 5: In March 2021 I took another look with the idea that $33 was the end of wave 2 and the current impulse was indeed wave 3 that could end around the $77...
Brent has been particularly kind to me, falling almost perfectly in sync with my general direction forecast arrow. This week I am expecting much of the same, WPL is around 76 and it also happens to be where a trend line from 2008 is. I don’t pay too much attention to trend lines, as I could just as easily draw a slightly different one depending on my...
Trade Proposal: There is a probability of first tp to the proposed ( 40$ ) Direction line. So, Traders can set orders based on Price Action and expect to reach short-term goals. Technical analysis: OILBRENT is in Downtrend and It is Expected to Continue Downtrend.
Based on Simple Technical Analysis ( Trendline + Support & Resistance )
Right now the price has reached to the top of the descending channel and also an important resistance level; BUT this movement from channel bottom to the top was very aggressive. So we have to wait and see the reaction to this Level and because of that I will not take any positions for now.
Entry Range: 83.28 - 84.17 Avg . Entry 83.95 (RRR: 2) 1st. Profit Target: 81.6 Stop Loss: 85.11 HOW TO ENTER MY TRADES 1. Ladder your entries. You'll want to ladder place your orders exponentially within the Entry Range to the point your RRR is atleast 1.5 if fully filled. 2. Only first touches are valid. If price is rebounding back into the entry zone after...
Brent is looking good, and seems to have stabilised. I think we are good to do BUY now. target 1 = 75 target 2 = 80.
Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The commodity Brent Crude Oil (BCO) has been in a rangebound movement since mid-October 2021, with resistance around the 86.50 price level and support observed around the 83.55 price level. Expectations are for a breakout higher towards 89.25. Failure of this move will be seen if BCO breaks...
The course is very busy surging to old highs. We expect Brent crude to push gains towards areas around $90.88, before relaxing a bit. However, this should not last long as we see the price reach heights of above $96 in the mid-run. A good outlook!
When everyone gets bullish it could be a good time to get bearish.. check out the negative divergence on the weekly as well.
at this chart we can find the level of buy price and sell price step by step
Crude prices slightly declined on Wednesday morning as API reported crude reserves in the United States were up by 3.29 million barrels, which is above expectations of 2.23 million. The Energy Information Administration (EIA) will present official figures concerning reserves on Wednesday evening. The forecast is up from 1.857 million barrels to 428.9 million...
Last Analysis : Well, as we can see, we are technically reviewing Brent oil charts at monthly timeframes. The price finally broke its 13-year downtrend last month ... (This break needs to be stabilized) Currently, the most important support range for Brent oil is from $ 72 to $ 76 ... Brent oil currently has a significant static resistance of $ 85 and we have to...
Last Analysis : Well, as we see in the monthly time frame of the US Crude Oil Chart, the price in February finally broke its 13-year downward trend ... After that, it continued to grow well and reached its static resistance level in July 2021, and It failed to defeat it and then rebounded to its broken support level in August. Last month, the price reached to the...
• according on the economic conditions of the world and the arrival of winter, the buy position can be held for a longer period, up to the target of " $ 100. " . • Or you can risk free the position and wait for the target.