About CFDs on Brent Crude Oil
The Brent Сrude oil was originally produced from the Brent oilfield in the North Sea. About 2/3rds of all crude oil contracts around the globe include Brent Сrude oil, making it the most popular marker. Its relatively low density and sulphur content are the reasons why it’s described as light and sweet. One of the advantages is transportation since this type of oil is waterborne. The Brent Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum and has a UKOIL ticker symbol.
Shale Producers Can’t Survive This Drop
Brent Crude Oil OANDA:BCOUSD TVC:UKOIL NYMEX:MCL1! ICEEUR:BRN1! — Wave C Still in Progress
Main Idea
I expect Brent to retest the 58.37 low in the coming months as part of a corrective Wave C in a zigzag formation.
Technical Outlook
Price action remains bearish, with the market tradi
Brent Crude Bearish sentiment continuation The Brent Crude Oil is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the resistance, suggesting a further selling pressure within the downtrend.
Key resistance is located at 6746, a prior consolidation zone. This level will be
UKOIL H4 | Bullish Reversal in PlayBased on the H4 chart analysis, we can see that the price has bounced off the entry, which is a pullback support that could potentially rise from this level to the upside.
Buy entry is at 65.58, which his a pullback support.
Stop loss is at 64.54, which aligns with the 127.2% Fibonacci extension.
UKOIL H1 | Potential Bearish Drop AheadBased on the H1 chart analysis, we could see the price rise to the sell entry, which is an overlap resistance that aligns with the 23.6% Fibonacci retracement and could reverse from his levle to the take profit.
Sell entry is at 65.70, which is an overlap resistance that aligns with the 23.6% Fibon
UKOIL H4 | Based on the H4 chart analysis, we could see the price fall to the buy entry which is a pullback support that aligns with the 50% Fibonacci retracement and could bounce from this levle to the upside.
Buy entry is at 68.47, which is a pullback support that aligns with the 50% Fibonacci retracement.
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Displays a symbol's price movements over previous years to identify recurring trends.