Have you seen that sell-off on WTI?! The market was falling like crazy, breaking one key level after another. Now the price is on a key daily horizontal support. I see a nice double bottom on 1H time frame that can give us a perfect confirmation to buy. Wait for 1H candle close above 82.92 - its neckline. Then buy aggressively or on a retest with goal -...
On October 4, 2023, the OPEC+ ministerial panel did not make any changes to the group's oil production policy after Russia and Saudi Arabia announced continued voluntary supply cuts to support the price of black gold. However, Brent and WTI crude futures have fallen more than 13% over the past week on concerns that central banks could raise interest rates again...
Oil Brent You can already see the formation of an ABC correction - if the price does not form a full-fledged three-wave structure and turns the trend downward. The nearest target is at 87.50 What can you expect now? You can consider entering from current price levels, but reduce the risks . When opening a position, it is best to exit the position from the...
looking for a deeper correction by 2024 , then new record highs .
Brent crude oil The channel is closed and consolidated, which allows us to expect a continuation of the upward movement towards the target of 96.14 (discussed in the previous analysis). What can you expect now? You can consider an entry from a breakdown of the level of 93.27. In the case of a local movement, we can also expect a correction to the levels...
U.S start to sell oil reserves and maybe we will see oil prices under $80 level...
Hello Traders In This Chart UK OIL HOURLY Forex Forecast By Forex Planet today UKOIL analysis 👆 🟢This Chart includes_ (UKOIL market update) 🟢What is The Next Opportunity on UKOIL Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To...
The bullish momentum of crude oil price appears slowing down around sellers' level, should the price break below $86.12, there's a heightened probability of oil reverting to test the prior support level situated below $84. N.B! - USOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast. - Let emotions and sentiments...
Since the last update, Brent has broken above the major Falling Wedge... And it's been on a quiet but consistent trajectory up. With the USD strengthening and with oil being an inelastic good where price has little effect on demand, means we can expect the price to continue to the first target. $100! We are in it for the medium term.
Oil Brent MN - The price has broken through the trend line at 87.51, which may indicate the beginning of an upward movement. W1 - We are observing a retest after the triangular formation and a breakout of the level of 87.51; for the price to move further upward, it is necessary to wait until the price consolidates at this level, which will open up the...
The development and use of artificial intelligence has been a source of much discussion and concern around the world. In this scenario, a country that has long been overlooked in the technological area begins to emerge; Saudi Arabia. It is a controversial country, which participates in several conflicts in the region, directly or indirectly, and which has a bad...
#BRENT Oil continues its steady growth on expectations of a reduction in supplies from the Russian Federation in September, as well as positive news from China. However, at the moment the price is starting to look a bit overheated and needs to be deflated. Against this background, I am waiting for a suspension and correction in the coming days. Nevertheless, the...
Oil long, but correction range There is nothing to say more, sroll the chart to lefz, and compare my new inicators sinals with traditional inicators 2D long 1D bearish Weekly bullish
I expect such a path for Brent oil in the 2-hour time frame
Context: Weekly – uptrend (UT), one-time-framing up Daily – uptrend Microstructure: Poor highs, poor lows Last day: value moved down Special notes: There are multiple signs of UT exhaustions: shortening of daily trend upthrust, daily volume dries up, last week value area overlaps with previous week Moreover, price is close to monthly resistance cloud....
After a 2 month consolidation and accumulation phase (04may-11Jul) and also after breaking various bearish trendlines since the Mar 2022 top Brent Oil has broken upwards to $81.49 this week. I believe Brent Oil will retest the support area around $77-78 over the next week or 2. I'll be looking for entries in the $78 price area for a long to $86-88...
Brent crude oil had quite the month in July, climbing from $74 per barrel all the way up to $85. This price jump came from Russia cutting back on exports to Saudi Arabia, trimming all their oil production. Still, I don't think the price is going to burst out of its range of $72 - $88 per barrel yet. What's interesting is the strengthening of "crack spreads"...
Hello everyone As the chart said we will have higher price for Brent Oil. DXY must be checked or be in watchlist and either XAU is a chance for buy position.