Based on Simple Technical Analysis ( Trendline + Support & Resistance )
some potential reversal zones of harmonic structures
Intraday idea for Brent Oil. Short by market (77.85). Take profit at 72.50, Stop-loss at 78.80
Oil is practically at the very top. I think that after update 77.82 there may be a rollback to at least the support level. Interested in level 76.13 ------------------- Share your opinion in the comments and support the idea with Like. Thanks for your support!
Price is approaching 1st resistance at 77.72 in line with Horizontal swing high and 76.4% Fibonacci extension where it could see a reverse down to 1st support at 73.50 in line with 61.8% Fibonacci retracement and 23.6% Fibonacci extension. Our bearish bias is further supported by how Stochastic is testing resistance where price dropped in the past. Otherwise price...
TVC:UKOIL Hello traders Fuel oil price is on the verge of breaking the longest resistance line since 2008 Just Keep an eye on it. 🔴 Please do your own research and understand the risk before you open a position
As long as we remain below the tremendous resistance trendline coming since the all time high, I would rather go short BUT if we close above that, change sides immediately for an important rally to 100+. So far I am only considering short positions from the Technical point of view and worsening fundamentals due to high prices after this global crisis...
Fed Tapering. High of the Year. Mama bear finally awake? GL!
The price continues to overcome obstacles from the resistance levels. Now the resistance 76.59 is being worked out, I expect that after a small rollback the price will retest and break through this level. I look forward to growth until the next resistance. My goal is 77.78 Traders, if you like this idea or have your own opinion about it, write in the comments. I...
And so, oil continues to demonstrate a fighting spirit. Growth is expected to continue. The focus is on the area of resistance 76.15 - 77.85, from which a downward correction is expected. After that, the price is very likely to continue to grow further. Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
After testing the support level and the lack of desire to go down, Brent crude oil continues to grow and rises to resistance for a possible retest of the level. I expect a slight pullback before the breakout and further growth to the far resistance level of 77.88 ------------------- Share your opinion in the comments and support the idea with Like. Thanks for...
Brent oil has reached its main resistance and with the end of a 5 uptrend, I expect a correction wave to begin. Also in the daily time frame, the indicator RSI has given a divergence. Alternative scenario If, after a small correction, it can stabilize itself above the resistance line, it can mark a new period in which it will rise in price.
Brent oil - Following Wycoff Distribution after the bull run from the Covid drop. Ignore the news, hurricanes, pandemic, oil shortage all fomo and fud money moves market.
UKOILSPOT is on a bearish momentum and is approaching our pivot and entry at 74.21 in line with 50% Fibonacci retracement and bearish trendline . Price could potentially bounce off and dip to our area of take profit at 72.73 in line between 161.8% extension and 61.8% retracement . MacD and Ichimoku clouds are supporting our bearish bias. Alternatively, our stop...
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Trade: Short (after the breakout) Target 1: $69.5 Brent price broke a global declining trend in 2021. We expect Brent's price to reach at least 80$ in the middle term, but before that, it needs to cool down a little. The price is moving in the declining channel and at the moment we expect it to reach the middle line of the channel at the $69-$70 range, as...
After breaking out of consolidation Brent Crude appears to be heading for a re-test of the breakout level @ 73.25. If price can find support from there the next level of resistance can be found @ 76.43 (MR1). If however it fails the next level of support is the Monthly Pivot @ 70.60
The oil price is pulling back to work out the resistance. I am waiting for a consolidation above the support level with an increase in the price of a resistance retest for a possible breakdown of the level 76.13 ------------------- Share your opinion in the comments and support the idea with Like. Thanks for your support!