**Monthly Chart** Last month's candle closed bullish indicating a continuous uptrend move at least to the monthly MC of Oct 2023. This month candle opened near the high of the previous candle and resumed higher. **Weekly Chart** Last week's candle closed bullish, suggesting a continuation of the bullish move at least toward testing the previous MC candle...
UKOIL rebounded from the support level and broke close above the channel. The market descending channel is just a pullback on the 4-hourly chart, so it makes sense to buy the market. We expect a bullish move to potentially break out of higher highs. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
UKOIL reached resistance, and it created AB=CD pattern. The market is trading in the ascending channel, indicating the bears are running out of steam and the bulls are in control. Price broke and closed above the resistance at 84.00 which became the support level. We expect a pullback, then a bullish move. ------------------- Share your opinion in the...
Daily - looks super bullish but in need of pullback. a single bearish day will do. volume has been drying up as we move to the long side. so we need a pullback and volume to start flowing in. Origin - outside value month means high probability of chop week. looks extended here too. ideally I would like price to pull to **84.63 - 83.36** or a deeper pullback to...
UKOIL is trading in the descending channel. Price broke and closed below the resistance level at 83.00. We can see the market has created a consolidation zone around this level, which means it's an important level. We anticipate a bearish move by completing the AB=CD pattern. ------------------- Share your opinion in the comments and support the idea with a...
In my previous post, I shared my analysis on Brent crude oil. Here's a video explaining the reasoning behind my trade idea: Currently, Brent is trading within a daily range-bound channel. It's pushing against the upper boundary, which hints at a possible retracement to test previous lows. Interestingly, historical data over the past decade suggests that March...
Same thing as always. I am looking for a pullback all the way to 82.56 - 82.39 zone and looking for price to get absorbed there. more than usual volume traded in oil yesterday which is repeat of similar pattern observed in Jan this year before first run up in oil. for me to get an entry I am looking for almost 1% drop so let's see if I get it.
Brent crude oil is presently confined within a daily range-bound channel. The price is currently testing the upper bounds of the range, suggesting a potential retracement to retest previous lows. This analysis incorporates a seasonal perspective – historical data over the past decade indicates a tendency for Brent to experience declines during the month of...
Looking to go long at the break and hold of 83.28. better if price dips to the zone 82.80 - 82.60 and gets absorbed there
UKOIL reached resistance, and it pulled back from it. The market is trading in the ascending channel, indicating the bears are running out of steam and the bulls are in control. Price broke and closed above the resistance at 83.00. We expect bullish move. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
UKOIL FEB WEEK 5 OUTLOOKG - Daily - I am still long bias on oil. if it does pullback, I will not get involved in shorts this week. I will see how it plays out. significant zones to look for absorption are 80.10 - 79.43 78.63 - 77.48 Origin -looking weak here too. if price fails to hold above 80.87 - 80.77 here, next level of support comes down to 78.54 - 79.26....
UKOIL has been making lower highs and equal lows, indicating bearish pressure. Price is testing the resistance at 82.00, the fibo, and the channel's upper border, which is a dynamic resistance. We anticipate a pullback. The market has dropped from this level before. ------------------- Share your opinion in the comments and support the idea with a like....
UKOIL was rejected at resistance at 84.00 before. Price is printing potential for a double-top. The oil market is consolidating on the 4H chart. We anticipate further consolidation and a bounce off the resistance level. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
UKOIL broke the ascending channel and went down. The oil market is likely to create a pullback from the support level. We anticipate a continuation of the bearish trend. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
UKOIL bounced off the resistance at 84.00 and the 127.2% fibo extension level. Price created the bearish harmonic pattern after breaking out of the descending channel. The current trend on the D chart is a pullback against the major trend. We anticipate a pullback and bearish move. ------------------- Share your opinion in the comments and support the idea...
A recent bullish trend is evident in BRENT UKOil on the 4-hour time frame, marked by the development of higher highs and higher lows. My approach involves anticipating a retracement into the 50-61.8% Fibonacci zone, creating a favorable discounted entry point. It is essential to emphasize that this analysis is merely an educational idea and should not be...
UKOIL is trading in the descending channel. The market keeps trading below the psychological level at 80.00. Price is basically consolidating and coiling up before expansion. We anticipate a rebound from the resistance at 80.00. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!