Speculators and oil giants seized the moment to maximize their oil profits the past months. With a mixture of war fears, supply fears and the increased demand for crude oil after the Corone pandemic and bad supply chains, a broad panic wave had broken out.
Let's have a short overview about the current situation:
Europe's situation: With India and China...
I reviewed Brent oil price changes in the weekly time frame. You can see that the price is close to its support range and is strongly supported by the RSI indicator. According to my analysis, the price will respond to my support range marked by a purple purple rectangle and on the other hand will react to the trend line which will result in a compression and then...
Trade Idea: Selling Brent Crude Oil
Reasoning: Forming bearish outside candle on 4hr chart after bearish outside candle on daily
Entry Level: 97.82
Take Profit Level: 92.82
Stop Loss: 98.82
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk...
My setup for Oil Brent
I am anticipating a break and retest for a very bullish movement.
Here, I have used a Fibonacci retracement for a precise correction destination for the bearish structure which the market is about to correct.
Let's see how things go.
Trade Idea: Selling Oil
Reasoning: Looks set for lower prices
Entry Level: 92.38
Take Profit Level: 88.74
Stop Loss: 93.31
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all...
Trade Idea: Selling Brent Crude OIl
Reasoning: Rejection of advance through 21-day moving average and potential head & shoulder on 1-hour chart
Entry Level: 95.83
Take Profit Level: 92.21
Stop Loss: 96.83
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree...
In my previous brent oil analysis, I stated that macd was giving a selling signal on weekly chart.
Then sales accelerated. This is what i see now.
* None of what i write here is not an investment advice. Please do your own research before investing in any asset.
* Never take my personal opinions as investment advice, you may lose your money.
* The purpose of my...
Have we just completed Elliott wave 1 of a crude oil bull market which I would argue started in November 2021 with Pfizer vaccine news?? Others may say it started from June 2020 after the May 2020 crash low touching zero or below briefly.
I have a question for viewers if Elliott waves up to 5 does indeed play out again for oil (and commodities in general) how...