Brent oil now make a big retest but if the price can break 71.60 then will start to down, so now we have a big chance to stay at buy, by the technicals chart, (technically)
Tp.: 75.30 & 77.77 & 79.10
Sl.: stable under 71.10
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Oil is consolidating on 57$ to 61$ region for the last days, not much is happening but opportunity's are everywhere.
First of all what is consolidation ? Consolidation is generally market indecisiveness, which ends when the asset's price moves above or below the trading...
Brent Crude looks like it needs a retracement after its stellar recovery. On the weekly chart we can see that its overbought on all three signals. Oil producers need the price to stay above roughly $40 a barrel. In a controlled environment with limited exogenous impacts the price of oil should stay above $40 a barrel. That being said, $70 a barrel isn't going to...
i think oil will keep rise and touch 69.7 and by entering that zone bears will mostly invade the market and pull it down to 68.40 levels and maybe even bellow.
i may update this chart Monday stay tuned.
As seen on the 4h chart there is a possible rising wedge formation.
traders must wait for the reversal bars.
I welcome comments and likes. thanks in advance.
Disclaimer: The given information on the chart and comments are not a Financial Advice.
Be carefull abaut your risk assessment and...
Are we seeing clear divergence between the price of Brent and the 14-day RSI over last couple of months? Check out my video and let me know what you think?
With the recent double-top, I'm thinking there's got to be a strong case for a Sell position here...
BRENT is close to breakout an ascending triangle after a couple of days of accumulation.
The entry point is on the breakout or pullback.
Be Careful with SP500.
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Hi everyone. My analysis done for my main timeframe 5m. I start from higher timeframes and move down to lowest m5.
Futures contract for Brent crude , London exchange ICE 08-20
My trading is based on market phases.
For timeframes m5:
Buy after breakout on the test of level 36.35, target 36.96
Sell 35.16, target 34.35
The longterm trend in oil is weak, Gov bond around ATL signaling low inflation/low growth.
12 dollar would be a retest of the 1999 low, and a new millennial bottom.
You could also argue that the worst is over in oil and tripple bottom is in play at 20.
Or we hit 50 dollar and the longterm trend has turn for now.
Probabillity leaning towards the downside since we...