based on my previous projection ; brent oil can push for a little more upside but will fallback to 46-50$ / barrel range in Q3-2019. for longer term : i'm expecting a very strong bull market. above 110$ in 2021. good luck.
Hello Traders, Good Day I think we are going to see big decline in oil prices this year . Let's watch and see what would happen Good luck
FIBO , S/R. Drop may come around October. Long TP 85 until summer end! GLHF
Update on this idea > Oil hit 1:1 extension (measured move) and strong resistance, possibly completing a correction to the fall from $76,88 to $42,40. Could now start the post correction impulse waves. Weekly candle looks like a bearish pin bar and possible bearish divergence on MACD:
1. Nice Structure level 2. 618 Retracement 3. Top of Channel 4. Monthly Fib R3 5. Daily Bearish Engulfing Don't expect a full reversal for now, but a move down to the 50% with structure confluence is looking probable.
wrong past decisions including lack of supply and trade agreements on a line walk i would consider this setup to apply based on market conditions with bad politics to fuel brent more towards an uptrend. global demand will always rise but supply has lowered because the cost of production grows as its harder to get the deeper they try to get it from. this is not...
Oil hit measured move (1:1 extension); could see a move downwards from here, impulsive or part of a more complex correction
OIL HAS RECOVERED ABOUT THE HALF OF THE DESCENT STARTED IN OCTOBER AND FINISHED IN JANUARY. WE ARE ON A VERY IMPORTANT STRUCTURE AS YOU SEE THE GRAPHIC. PERSONALLY I ARE LOOKING FOR ENTRIES TO SELL WITH STOP LOSS WITH CLOSING OVER 71 DOLLARS, I THINK THE BRENT CAN MISS A 4-5 DOLLARS IN THE NEXT MONTH. GOOD TRADING AT ALL
Oil Reached a resistence level. Wait for sell signal Small SL Cheers
We are basically exactly where we were at in October 2018. About the same things for US equities. But why the divergence with US equities outperforming oil? Look what happened last time stocks become too zealous in January 2018. Correction downward to a near parity in percentage gains. Either stocks are going to readjust or oil is just going to go crazy in the...
This will be lovely when it develops, get onto it anyway you can, watch for price action...
Oil edged up earlier in the week on the news that Saudi Arabia is focused on cutting output and petroleum-rated assets rose across the board in spite of the fact that a report came out asserting the Russian's weren't cutting as much as they previously suggested. Breaking the upward risking wedge is a really bullish sign as rising wedges tent to be reversal...
Open Sell order 69,77 SL 70,34 TP1 - 68.79 TP2 - 66.59 TP3 - 66.20 RRR - 1:6.33 Last idea - was closed to protect profit. Now i make reversal order and waiting to go to south. Good profit for all us :)
Open Buy Order on Brent - 69.77 TP - 71.85 SL - 69.20 RRR 1:3.65 Good RiskRewardRatio, good SL and good TP shows this buy order very interesting.