UKOILSPOT reacting below the descending trendline and are likely to drop towards take profit in line with -27.2% Fibonacci retracement and near 100% Fibonacci extension. Alternatively, prices may rally up to stop loss at 73.81 in line with 61.8% Fibonacci retracement. Any opinions, news, research, analyses, prices, other information, or links to third-party sites...
The week began with a bouncy positive from the USA. It looks like the epic with Biden's infrastructure plan is heading for its happy ending. Perhaps not complete and final, but still. Senators say the $ 550 billion bill, the largest federal spending plan for public works in decades, will be passed within days. The plan, as it stands, includes about $ 110 billion...
Hello traders, Here we see the oil chart and we expect a move down. Reason for this is price-action showing us a bearish market for the moment. After indicators will be switched to bearish and all rules of the strategy are satisfied we will take an entry. Have a good week! ~TradingSimplicity
The price made a false breakout of the intersection of two levels (support of the price channel and resistance from April 2019), I think that after a rollback to a strong support line, the price will continue to grow. Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
Brent oil prices ease from the two-week top during early Friday. However, the British oil benchmark holds onto the three-week-old resistance breakout, marked the previous day. Given the firmer oscillators offering additional signals for upside momentum, a monthly horizontal area surrounding $76.25 is up for a challenge. However, any further advances become...
after opec+ meeting and the short, price hike again and it seems to make a higher hight.
Brent oil, now the price can get strong stability to up, so i think will record the target and more, near 79.00$ ——- Tendency: upward Target 75.35$
From my point of view, and regardless of OPEC efforts to sustain high oil prices, I think it is about to burst soon as demand is not picking up as expected while new delta variant covid is spreading quickly worldwide (I'm currently suffering it myself!, infected since last weekend). I think that would be good and helpful for global economies to soften oil prices...
Stop-loss at 75.15 has been breached.
Re-Short Idea: Brent Crude Oil Price at downward trend line and 61.8% FIB Level at time of publication: 74.28 Entry Range: 74.28-74.45 Stop-loss: 75.15 Target range: 72.05-72.40
Upside price momentum supports the bullish trend. Bullish trend applicable above 72.80. Starting to break above key resistance. MACD (lower panel) might also confirm a change in trend direction to bullish.
I expect that Brent will be bullish before we see the price touches the key resistance level and reverse.
This is a strong buy looking at the pattern and formation of the candlesticks
Technically, Brent oil has responded well to Trend Line a, and with differences between OPEC and OPEC Plus members and the Corona epidemic rising, it is unlikely that we will have prices above $ 83, if we can expect oil prices to rise at least Trade above Zone for a week or if something special happens in the world's oil regions that reduces production beyond...