Brent Crude Oil TargetsBrent oil, which has been in a downtrend for weeks, will break the trend if it closes this day above $86. If it continues this movement with volume, the target of $ 98 will be valid. As long as it stays above the $84 support, the positive outlook will continue.Longby YavuzAkbayUpdated 4
ANALYSE THE MARKET LIKE A PROStill bearish on crude oil and looking for selling opportunity, now on the H4 chart we see how price broke below the trend line and trading at $81 but there is possibility for the price of crude in the international market to drop to $70 and even $60 in coming months, and right now to be a seller in this market for more conservative traders might want to wait for a little pull back before selling. by tunde4u3601
SPOTBRENT /RR=3.7/big time down trend continiues effect of war decision of opec /RR=3.7/Shortby UnknownUnicorn34541162Updated 2
Brent Crude new ATH in 2025A pretty scary chart if #CrudeOil bounces off the RS flip and executes a measured move to new ATH, we could see a period of macro hyper inflation setting in at around 2025 with a scramble to sustainable energy and EVMs.Longby Realm_Ninja2
BCO Technical Analysis On a we weekly we have gotten close to our resistance level we can get the following two plays: price going up and closing above 86.149 on a weekly chart or we may get pullback where then we will have to evaluate longs for now i am bullish since levels held perfectly my entries are pullback after retest (roughly as demonstrated on the chart) Let me know your ideas on oil!Longby federalAntelop49540
a sell position in brentbased on pressure and power lines, tp and sl is shown. good luckShortby ashkanf1360Updated 0
Oil couldn't see above $100 for a whileCypher harmonic pattern: AB=0.61 XA BC=1.41 AB 1.27BC=$137 2BC=$468 shark harmonic pattern: ab=0.61 xa bc=1.6 ab 1.6bc=$171 2.24bc=$289 It seems oil is accumulating above $35 and under $140 to prepare for final target of the Cypher harmonic pattern at $468.Shortby HarmonicPitchforks115
Trade Of The Week Brent Crude ShortJupiter Pendulum was tagged red so we found a short setup at red shade as per Jupiter Pendulum Theory When the divergence formed and we got our signal candle, we had an entryby NickofJupiter4
BRENTsame situation as on GBPUSD graph... trend is in a strong downtrend. i will wait to retest zone and sellShortby Ta_ra_ra4
$350 OIL on the way$350 target for oil is coming. Long term channel is pointing to this target. Longby silversputnik1
DeGRAM | UKOIL short opportunityUKOIL broke out of the descending channel . The price tested the psychological and resistance level of $85.00, then dropped. The market made a complex pullback on a bearish trend . We anticipate a bearish continuation trade. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!Shortby DeGRAM8813
Bullish crude oilSetup: HOLP Reversal Trade rating: 4 Reward: risk: 4.3:1 Market conditions:Choppy I see a lot of long tails indicating buyers I have a limit order slightly below current priceLongby Kyle_Campbell0
Brent Crude Oil: Potential for a further corrective move higherCurrent price remains below its 40 week moving average (200 days) which indicates that the longer term trend is lower (100 days or more), however, the scope for a further near term (25 to 50) corrective upside rally from the November high - December low remains on the table, provided the key resistance near $85.05 can be overcome for prospective extension move towards the $91.66 (50% retracement from the 52 week high/low); downside risk seen near the $78.3 support. Longby Skilling3
BCOUSD or UKOIL ShortPlan: We will wait for the price to break the trend line resistance(4 h) And make any bearish candle stick pattern. Furthermore, we will wait for a confirmation candle as well. 2% risk can be taken as The setup has high probabilityShortby arsalankb322380
UKOIL: Bearish Reversal IdeaBearish Indications • Resistance Zone at 85.26 • AB=CD where the D point is at 85.93 which indicates a reversal • Gartley’s XABCD indicates 85.73 Area • Seasonal Analysis Shows DXY remains Bearish at over 80% in December month Bullish Indications • Three White Soldiers • Significant Support Zone at 0.68329 • Resistance Broken at 0.68629 • Support Zone at 84.23 • Seasonal Analysis shows UKOIL remains Bullish in December Month. Biased: Short Entry Short: 84.52 (Fib Level 78.6%) TP1: 0.68236 (Fib Level 61.8%%) TP2: 0.68085 (Fib Level 38.2%) Stop Loss: 86.20 Risk/Reward: 1:1.6 Shortby adnanmagsiUpdated 3
Need a low pump up! As it shows white trend line is strong support from early days 1860 and I do not think it will break another time (except new COVID disaster) , so we should face a bit move up trend maybe to make double top and then come back to support trend line for another confirmation not to far ( maybe less than 1 year ) and then how knows a huge pump up with strong break on its historical top resistance price 147 maybe!? I myself accept this scenario instead of break down the very long term white trend line and see lower price around 40 or even lower ?! How do you think???Longby Atareum-ir2
DeGRAM | UKOIL short opportunityUKOIL broke out of the descending channel . The price is getting close to the psychological and resistance level of $85.00. The market is making a complex pullback on a bearish trend. We anticipate a bearish continuation trade. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!Shortby DeGRAM6625
UKOILOil I think we looking to high becouse that rule of national against Russia about cost of their oil so we should look for high oil 87$ happen and have a little resist for make it down then we look after that to 94$ and the biggest support what I seen is 100$Longby Bestoonkarem0
A technician's predictionThe technical structure tells me that a drop should happen, and also if we compare the fundamental issues, the drop is very reasonable.OShortby Hossein_Fatapour_IRAN0
BRENT CRUDE OIL BULISH PATTERNDemand for crude oil is expected to rise after a cold wave hit USA, which will likely increase the demand for oil distillates, easing of the COVID measures in China and US crude oil inventories coming up less than the analysts have had expected. British crude oil benchmark, BRENT, had broken the resistance of the triangle pattern, a strong bullish predictor, and the price might reach levels of 87.5 in the next couple of days. In an event of reversal of the trend, the price might reach levels of its previous low of 75.35 RSI and MACD both are confirming the bullish outlook, with MACD histogram above 0 and rising and RSI rising as well and approaching the 50 neutral line. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.Longby legacyFXofficial1
What is Brent oil?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?", "How to buy Brent oil?", "What is the difference between Brent oil and WTI?", "Why does Brent oil prices rise?", "Why does Brent oil prices fall?", "Brent oil prices how to get oil? What is Brent oil? Brent oil is a blend of crude oil extracted from the North Sea in the early 1960s. It is considered a light, sweet type of crude oil. Crude oil is a natural resource that is extracted from the earth and refined into products such as gasoline, jet fuel, and other petroleum products. Brent oil accounts for more than half of the crude oil traded internationally. For this reason, it is an important criterion in the pricing of crude oil. Brent oil is also known as London Brent or Brent Blend. The other main crude oil benchmark used in world markets is West Texas Intermediate (WTI). What is the difference between Brent oil and WTI? Brent oil and WTI are the two major classifications of crude oil. Brent oil is extracted from the North Sea, while WTI is extracted from the USA, primarily Texas. Brent oil accounts for about two-thirds of global oil pricing. Oil produced in Europe, the Middle East and other parts of Africa is priced differently from Brent depending on its characteristics. Crude oil futures are traded on commodity exchanges: Brent oil is traded on the Intercontinental Exchange (ICE), while WTI is traded on the New York Mercantile Exchange (NYMEX). Why are Brent oil prices rising? Brent oil stocks are highly sensitive to changes in global supply and demand. Roughly speaking, if demand is high and supply decreases, the prices of brent oil will rise. Both demand increases and fears of supply disruptions put upward pressure on brent oil prices. Global oil demand, on the other hand, is increasing, outpacing increases in oil production and excess capacity. The biggest reason for this is the rapid growth of developing countries. These economies are increasingly industrialized and urbanized, leading to an increase in world oil demand. Why is Brent oil price falling? As with any commodity, stock or bond, brent oil prices fall when supply exceeds demand. OPEC is the main influencer of oil price fluctuations. OPEC is also a consortium of 13 countries, which, according to 2018 statistics, holds almost 80 percent of the world's oil reserves.by Forexcues0
UK OILAccording to Bloomberg, the supply of Russian oil in the first week after the price maximum fell by 54%. This happened between December 12-16. Against this background, the price of oil rose in its price of 75 to 83 dollars per barrel. In addition, the price of $75 was the lowest since March of this year. America also showed in reports released last week that strategic oil reserves are at their lowest since 1984. Russia also announced that it would not supply oil to those countries that supported the embargo on Russian oil. But it increased the volume of deliveries to China and India, which are the main partners of Russia. The OPEC+ oil cartel also decided in October to cut production by 2 million barrels per day. From November to the end of 2023. With such factors, in my opinion, in the global perspective, oil prices will rise. Today is US reporting day, and given past reports, America is unlikely to have increased its inventories significantly. In global terms, this year we have seen a drop in oil prices, but recent events can change everything!Longby TradingForProfitPro224
ANALYSE THE MARKET LIKE A PROBrent crude trading at 79 dollars right now, and as long as price remain below 85 dollars i remain bearish, another retest of the 85 dollars zone and a bounce off would be a nice time to sell on brent crudeby tunde4u3600