Brent crude oil is in the B correction wave with a potential range to the upper edge of the growth channel.
I expect an increase to $ 136 then corrections under wave C with a range up to $ 80.
As you can tell I am new to trading, I am posting this because I would like to learn more by being able to chat to people in chatrooms, hence why I am posting this.
The two breakouts upward and one breakout downwards leaves me not sure as to what will happen when the US market opens, so I will have to do some reading into the the oil and gas news and perhaps join...
Oil is back at a very strong trendline dating back to Q4 2021. Brent Oil has seen flows in and out by speculators as they assess the damages caused by the russian invasion.
This weekend, social media was filled with horrific videos and photos of the damages and a trail of murder of unarmed civilians in Bucha, Ukraine by russian troops and this could push...
1. Prices must break the trend line (dashed blue) and overcome resistant from to SMA20 (green curve) and allocate over the VWAP (white curve) to hit the upper limit of testing zone @ $109.5x (minor profit target).
2. By passing the testing zone, prices will get resistant at the pivot line representing 61.8% level. Breaking this pivot level is the key to consider...
1. As a result of terrorist attacks last weekend on Saudi ARAMCO reservoirs followed by an official declaration from Saudi government regarding expected shortage in market, it is strongly expected that prices will suffer from enormous increase starting from this week. Also, GP Morgan has expected that Brent prices may hit $189.00 next weeks.
2. Prices closed last...
I use parallel channel analysis ikt a strong strategy but the problem in this strategy is you ha to have the piont gold then this strategy is of course strong.
I see the UKOIL will rich to $83 in near future.
Hi Traders
BRENT-FEB22 (Daily Timeframe)
Waiting for the upward break of 76.91 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 69.05 would cancel the bullish scenario.
Trade details
Entry: 76.91
Stop loss: 69.05
Take profit 1: 81.07
Take profit 2: 88.49
Take profit 3: 100.58
Score: 8
Strategy:...
The opening trades after Thanksgiving Day brought no optimism for investors as some countries are debating on whether they should release oil from their reserves during a period when the demand is lagging amid new COVID-19 lockdowns in some European countries.
Brent crude prices are losing almost 6% and this may not be the final price. Taking the price chart into...
Markets finished last week with sell-offs. Crude is among the most suffered markets as the Brent crude benchmark fell by 4.5% to $78.47 per barrel. Lockdowns in Europe and expectations of possible interventions of the United States and China are pressuring crude prices.
Last Friday the Austrian government announced a 10-day lockdown that could even be extended....
