On 1H & 4H
Direction: Upward above 63.14
Target: 65.00 and 67.60
Stop line: under yellow zone
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my last idea about brent oil on 14Feb:
In this video overview, we will take a look at the Oil, Copper, Gold, Silver, and Brent Oil. $GC_F and $SI_F have the most promising consolidation patterns #Oil is breaking higher.
Best Case - Price rise until USD 74 per barrel - reason current still in bullish mode
Worse Case - Price will drop until USD 37 per barrel - major trend still in bearish mode
+Tendency:
Upward, to take (63.30) & (66.10)
+Retest:
But in the yellow zone (triangle) will make retest till 59.60
+Contrary:
Stabilize under 59.30 will get 56.60 & 55
The price trends since 2008 looks like a re-accumulation. The last price collapse was possibly a spring. It was interesting that the test was the lows of December 2008.
I expect TVC:UKOIL will find support in the next days. I don't expect a price re-test of $30.
In the long run, we can expect the prices above $100, when the price is ready to pass over the...
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on WEEKLY (left): BRENT OIL is sitting around a strong supply area in green and outer brown trendline so we will be looking for trend-following sell setups on lower timeframes. (red projection)
Unless BRENT OIL breaks this decision area aggressively upward, then we will be...
Welcome!
What's up traders! Thanks for Jumping back on my Analysis, 👨💻 Trader champ is here behind the charts, Hit the thumbs up 👍 and support the work
Follow the trade plans and notes. Sketch up your own trade setup and make sure you meet with the required confirmations first, before you make your move!
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Since the beginning of January there has been a strong bullish momentum, reaching almost a price of 54.00.
Looking at the 1h Chart we can see how a double top has formed and buyers failed to break above previous high. Market is currently in a correction phase, a good buy opportunity can be at the retest of support level: 51.50 otherwise if the price manages to...
Crude Oil prices have surprised many investors and traders. Similar to Copper, in a sense both are an economic recovery play. Way back last year, we saw Oil hit 0, but then form a head and shoulders reversal pattern. The uptrend has been held since then, but we have finally now hit a major resistance zone which could signify a shift in trend.
First of all the...
Welcome!
What's up traders! Thanks for Jumping back on my Analysis, 👨💻 Trader champ is here behind the charts, Hit the thumbs up 👍 and support the work
Follow the trade plans and notes. Sketch up your own trade setup and make sure you meet with the required confirmations first, before you make your move!
________________________________________________
...
Brent oil finally reached a major strong weekly resistance.
On that, the price has formed a h&s formation and just broke below its neckline.
Taking into consideration the overbought market, chances are high that the price will go much lower.
Goals - 53.15 / 51.0
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