UKOIL is in falling wedge and near 2020 trend higher low after its breakdown we saw a crackdown and more selling
but if we follow rules we can see a pullback to wedge uppr trendline
and after breakout ukoil gives a new move
UKOIL broke through the major support level at 80.00 then dropped.
The price is consolidating after the sell-off.
The oil market bounced off the support level at 72.00. It's pulled back against the bearish trend.
We anticipate a bearish continuation trade.
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#COMMODITIES #TRADESETUP
📡🔞 TRADE $BRENT
🔽 LONG (BUY) > 76.20$
❌ STOP > 75.10$ (1.18%)
✅ T1 > 93.32$ (RR 19.31)
✅ T2 > 119.5 (RR 48.41)
☠️CAUTION !!!!
2 IMPORTANT INFORMATION TO TAKE INTO CONSIDERATION:
> THIS IS A MT/LT TRADE. REGARDING THE SETUP. JAC IS DONE AND WE ARE WORKING ON THE EXIT. PIV D (76.47$) MIGHT BE THE KEY.
> IF WE REINTEGRATE THE FORK (BACK...
Brent Crude Oil : Multiyear(2015-2022) inverted Head and Shoulders triggered at the beginning of this year. Price broke the major downtrendline and subsequently iH&S neckline at 87 (lime) and then skyrocketed to 138. Now pulling back down to the neckline. We could actually see the backtest of the major downtrendline and dip into the S/R Zone 76-68. This would be...
Wimoweh, wimoweh, wimoweh, wimoweh
Wimoweh, wimoweh, wimoweh, wimoweh
Wimoweh, wimoweh, wimoweh, wimoweh
Wimoweh, wimoweh, wimoweh, wimoweh
In the jungle, the mighty jungle
The lion sleeps tonight,
In the jungle the quiet jungle
The lion sleeps tonigh
Wee heeheehee…–
… – okay, let’s stop here before we won’t be able to get this song out of our heads. We should...
FX_IDC:USDBRO traded below $75 last week. Given the economic challenges, I'm open to weak oil prices. Unless there's a bounce at $71, we might see $64. How will this affect JSE:SOL , I don't know but I don't want to pay more than R30/L for petrol.
As the markets attempt to digest two bank failures in the U.S., a plunge in shares of Credit Suisse and plummeting bank stocks on two continents, fears mount that a banking collapse could lead to a sustained economic downturn and cap demand for oil. So that will push the OIL up .
price in supply zone and i think this is good for be short
i think this is good opportunity because more than 3 risk to reward ratio
hope enjoy trading
dont forget like if you agree and comment below your opinion
UKOIL is In a Free Fall
From mid-November 2022 to mid-March 2023 the price was corrected with a large and daily triangle pattern.
As you can see, the price accumulated a bearish volume for about 4 months before the next decisive move.
The breakout of the bearish pattern happened this week and the chances are that the price will go even lower.
I am waiting for...
• Oil prices remain under pressure despite receding banking fears
• Major technical breakdown suggests more losses could be on the way
• Will the OPEC come to the rescue?
After falling by 8% at one point, crude oil prices managed to bounce back from their worst levels on Wednesday along with everything else. The rebound came on the back of news the Swiss...
UKOIL 8hour chart review/outlook. Broke key s/r recently
so expecting weakness next 4-8 weeks. Previously compression
intro triangle pattern and sequence of higher lows was
invalidated recently with break of 83.50 USD.
sequence of higher lows at 76.50 and 79.85, but broke
down with recent sell side pressure mounting due to
US banking crisis. Based on measured move...
Following monthy chart.
Before I shared a short setup an it hit the target
Then shared a long setup, it hit the target
This time it's a bit concerning. I got a short signal from my indicator and I think target will be 45.27 in fibo.
SL 112.
This means recession, something bis is coming soon.
