Hello everyone, if you like the idea, do not forget to support with a like and follow.
BRENT OIL is sitting around weekly resistance in green so we will be looking for sell setups on lower timeframes.
on H4: BRENT OIL is forming a channel in red but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection...
This is comprehensive look towards crude oil after achieving its bullish cycle far back July 2008 and since then Price seems to trapped in falling wedge formation.
The whole idea is to buy and hold at demand zone and aim to sell at supply zone, I will prefer to go with swing here.
Kindly go through the chart and do leave us your comments to let us know how you...
long positions above 63.90 with targets at 74.50 & 77.00 in extension.
below 63.90 look for further downside with 60.10 & 56.40 as targets.
the RSI calls for a new upleg.
There is a probability of first tp to the proposed ( 80.0 ) Direction line. So, Traders can set orders based on Price Action and expect to reach short-term goals.
Technical analysis: TESLA Waiting for the Range Bound and the beginning of the Ascension Trend.
I believe there will be an overall bullish consolidation before a break to the downside.
If energy sanctions are are lifted, we can expect even an even greater possibility of a trend reversal.
“Sanctions … on Iran’s energy sector, which include oil and gas, or those on the automotive industry, financial, banking and port sanctions, all should be lifted based...
one of bullshits sentences is this: oil requests will be decrease and clean power will take its place, so the price will fall down. we will see bro,, you cant say gold will lose its price cause people can make silver or etc... for now, we have a super trend on oil, and let's see, this will be happening
Main trendline broken by and the level which broke it is retested by 50% Fibonacci retracement.
Ad then again, here's another ascending trendline being broken and is about to being retested by 50% of the leg which broke it!
Targets: 65.0 and 67.6
But under support line 60.00 will be downward ..
The 60.00is a strong support for downward tendency in 4h and daily chart but stabilizing above it the view of BrentOil is Upward (not bad for down)
The price of Brent crude oil fell from $ 70 in early March to $ 64 per barrel, a drop of 8.5%.
📉Factors that contributed to lower oil prices were delays in vaccination in most countries.
📉Delayed vaccine supplies and local lockdowns continue to stand in the way of a full resumption of economic activity.
📉📄Also the OPEC agreement on April 1, where the...