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...
Hello traders! Wait for the break to enter the trade! Be careful! Don`t forget to look at the economic calendar! MAKE MONEY AND ENJOY LIFE 💰 THANK YOU! GOOD LUCK! 🙏🏻🙏🏻🙏🏻
Since the beginning of the month, the price of Brent crude oil has risen by about 10% — this July could be the best month since June 2022. Yesterday, the price of Brent exceeded USD 82, for the first time since April. Among the drivers of oil price growth may be: → production cuts by Saudi Arabia; → restriction of export from the Russian Federation; →...
Preferred direction: BUY Comment: The long idea for oil has been working out very well and after completing the planned path earlier, the level of 77.39 opens for the buyer. A rather difficult obstacle for the buyer, because if not for it, then the price could rise above 78 from the current ones on the impulse. Therefore, in the near future, an approach to...
I'm Bullish and long Brent oil. Pls see chart for visual explanation of idea. I'll be posting updates with entry areas as we have break outs, so keep checking in here.
im short on XBR because of the strong H4 resistance we are at and price has been bearish for quite some time now, just riding the wave.
The price movements affecting crude oil have been fascinating over the past year and a half. During the period in which many Western governments imposed lockdowns on their population, oil was trading at relatively high prices because of logistical and supply chain difficulties created by enforced stay-at-home orders, whilst nations in Asia such as India, Thailand...
Over the past year, the price of crude oil has been interestingly volatile. In keeping with other periods in modern history during which the United States has been involved in geopolitical conflicts with regions outside of the Western world, oil prices have been varying with verve and vigour since 2020. Back in the 1970s, the famous' oil crisis' was caused by...
I'm waiting for a small retrace to enter. I will close the Long at Resistance around $80. I'm bullish on Brent to go further but I will wait for confirmation with brake out of area resistance and break out of down trend line above the area for another Long.
During the past two years, oil, along with many other raw material commodities which are used to produce energy products, has been very volatile. Perhaps given the nature of its supply, which is largely in the hands of the OPEC+ countries whose national economies depend on the export of oil around the world, the 'oil cartel' has a lot of bargaining power over its...
HI PEOPLE WELCOME TO DECRYPTERS We may see 4H to Play first and NEXT WEEK Possible REVERSAL in oil, AS Reversal pattern is on Daily Timeframe it will take 7-13 candles At least to reach Targets 0f 86$ - 88$ , The Demand for oil will increase once china is Fully open
Brent oil is the benchmark by which the bulk of the 100 million barrels of crude oil traded each day is priced. Brent plays a unique role in the global oil industry as a benchmark crude oil on which most other types of crude are priced. If you want to invest in Brent oil, you can continue reading our article for answers to questions such as "What is Brent oil?",...
hi dudes.. we re waiting for your comments and likes.
Organization of Petroleum Exporters and its Allies (OPEC+) maintained production cuts, keeping production at 2 million barrels per day (bpd) from November to 2023. Oil prices weakened as China's zero-covid policy weighed on demand. However, after the regulation was relaxed in a number of cities including Beijing and Shanghai, oil prices slowly moved up. WTI and...
Oil prices slipped below the US$85 per barrel level after the US central bank, the Fed, announced an interest rate hike. U.S. oil demand over the past four weeks fell to 8.5 million barrels per day (bpd), the lowest since February, according to the Energy Information Administration (EIA). On the other hand, there was a 1.1 million barrel increase in crude oil...
📉 Priority direction: Down . 📝 Description: The level of $98.55 for oil (where it is now) is a good entry point to sell. Sellers increase their pressure to the indicated level and this trend is likely to lower the price to the $96 support in the short term. In the medium term, the positive mood remains so far. -------------------------- Thank you for your...
Oil prices briefly surged in mid-trade due to a push to raise the Fed's benchmark interest rate. However, prices eased back after investors believed that the US central bank's policy this month was to maintain interest rates. Another factor, the US dollar strengthened again to its highest level in five weeks, which limited the increase in crude oil prices. This...