Light Crude Oil Futures
Seems like there will be an agreement over the weekend about EU-Russia embargo and Brent will open with a gap on Monday. The question is what is happening with US crude prices. Struggle to fit a similar structure there.
Last week, we predicted that UKOIL was likely to test a resistance level of $115. Price broke through that level on momentum and made higher highs. Price action might test higher levels and IF it pulls back to previous support, we will look for buying opportunities. ------------------- Share your opinion in the comments and support the idea with like. Thanks...
Possible Bullish pattern in the UKOIL, if Brussels agrees for a embargo in Russian oil then there's going to be a pump in the oil this will drag the price to higher levels and the food crisis will deepen, this will also make food commodities really interesting for a long position. Meanwhile the best option is to be neutral or open small positions that won't...
Brent is currently glued to the resistance at $114.74, where it has finished wave b in blue. However, we expect it to let go of this mark soon to fall into the turquoise zone between $101.67 and $99.83. There, it should complete wave a in turquoise and move back above $104.67 afterwards to finish wave b in turquoise. After that is settled, Brent should gradually...
Hello Fellow Commodities Traders! From technical perspective, UKOIL has broken out of the pennant pattern. The price action also indicated a potential bullish movement on the long run. All explanation will display on the chart. *DISCLAIMER: This isn't a recommendation to buy or sell Brent Oil, only an Outlook from technical perspective. *FOLLOW and LIKES FOR...
According to the latest news,German economy minister expects EU embargo on Russian oil 'within days' -ZDF. There are 2 main point. Europe and US is about to 1.Embargo Russia Oil 2.Set Oil price upper limit. What might Europe and the United States do? Europe and the United States may adopt a similar approach to carbon tax, that is, imposing additional tariffs...
UKOIL has been channeling for over one month now between 101 and 115 price levels. IF the price closes above 113.30$, we can expect a move up to the resistance zone for a retest. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Today we would like to share my opinion on the possible price of Brent Crude Oil in the coming years, analyzing the chart on a monthly timeframe The war in Ukraine is not just a war between the two countries, it is a geopolitical problem that will affect all world economies. The world's economies have not yet recovered from the Covid-19, and here is another...
I was looking for an index to find out the risk of war on the markets and made this index: (a*BTC+b*NASDAQ)/(c*GOLD+d*OIL) I choose the coefficients to scale the parameters and make them in the same order.
It is a matter of contemplation... Oil is technically ready for a strong upward movement , God knows what could be the cause .
totally holding on to this making iy a 1:6 RR. This is a continuation of the post before this, too bad I was way t early on friday, still holding on yo that bit. I really wanted to short 114.45 but I thought we wouldn't get it, Today we did.
➡️ Oil usually rises and falls with the stock market because the prices of both markets are like a proxy for economic activity. But in recent years, these relationships have collapsed. Oil growth may continue to outperform. Stock markets fell and oil prices held. It is more likely that oil will continue to outperform equities on a cross-asset basis. If you are in...
A price action above 103.15 supports a bullish trend direction. Breaking below this level will negate the bullish stance. Remains above its 200-day simple moving average. Would like to see upward momentum supporting the bullish trend. Candles are Heikin-Ashi candles.
Here Are 3 Things You Need To Know “Technically” about the High and Low Oil Price Brent crude oil prices rose steadily for months and surged more than 72% over the last one year-climbed to 14- years high of $139 per barrel. After fluctuating wildly the price per barrel of Brent oil appreciated more than 33% since Russia invaded Ukraine on February 24 and...
Forget the market, look at your neighbours, go to the high street, count the number of people walking vs driving to the small shop! We are already in a recession in Europe, UK and the US, it's just the data is not showing it yet. When it's down....then watch out below This will be at the same time when the Fed (having no choice) but to destroy the bizarre...
In my view Brent will touch 158$ before big dump, I think that we retest 16$ area in 2023
It is near impossible to following all the developments in the geopolitics and try to forecast the price of Oil but what does technical analysis suggest? Elliott Waves break down: The sharp fall in March is clearly a motive wave which is likely based on a double zig-zag The correction that has been forming since then is clearly a triangle but this type is...