BRENT CASH Analysis 06/12/2023 The entry, exit and stop loss points are on the chart, please make sure of them and do not risk, this is our analysis and ideas. Please observe the capital carefully and do not risk more than 1% of your capital Good luck to everyone
Brent oil prices are flat during early Wednesday trading after touching a multi-week low the previous day. Investors remain relatively unmoved by the potential impact that the additional voluntary production cuts agreed by the OPEC+ members will have on the market. Since the last day of November, the price of Brent has dropped more than 6%, showing that the...
Another Good News to the World. Any close below 74.60, as per 3Months chart, #Brentoil will fall to minimum 64$, below that 42.12. Unless these levels are not tested, Brent oil won't make new high or another Bullish Move
We've been in a long wave 2 correction for the last couple of months, wave 2 has made a deep retracement, and we're now looking at the start of wave 3
The value area is between 76.5 - 78.5 Be careful about your RISK The target will be 84$
Brent oil prices hedged up slightly during early Tuesday trading but remain close to the two-week low touched during the previous session. Prices declined on Monday as traders questioned the impact of the additional voluntary production cuts announced by OPEC+ for 2024. With economic activity falling in China and the American economy showing signs of slowing down,...
Brent crude oil looks to have made the 1st leg lower in a new long term downtrend Trade: Wait for bounce from recent thrust lower to cluster of resistance to go short
Below that level of liquidity, the fifth Elliott wave is taken
UKOIL broke the ascending channel, and the price is pulling back to it. The oil market is probably printing an AB=CD pattern. We anticipate a continuation of the bearish trend. Breakout, pullback, and continuation ------------------- Share your opinion in the comments, and support the idea with a like. Thanks for your support!
Brent oil prices stabilised during early Friday trading after Thursday’s wild oscillations, which ended up with a daily drop of more than 2.6%. Earlier in the week, investors had been anticipating the agreement amongst OPEC+ countries to reduce output in a dynamic that offered support to the price of the barrel. However, yesterday’s announcement of additional...
If the range of 80.0 units is broken downwards and the price stabilizes below it, the price may fall to the range of 79.5 units, and in case of strength, the range of 78.0 units. Otherwise, the possibility of price increase up to the range of 82.5 units.
XBRUSD (Brent) H4 Elliot wave and Trend Chart has language
#Brent Crude Oil - H1 📣 Considering the chart structure on the 1-hour timeframe, in the event of a breakout above the upper boundary of the consolidation pattern in the range of 82.20, one can consider initiating a buy with a target of 85.40. ⛔ Stop-Loss: 81.10 On the other hand, in the case of a breakdown below the 81.10 range, there is an expectation of a...
According to WSJ, the reduction could be 1 million barrels per day. Saudi Arabia is in favour of cuts, but the idea causes disagreements among other members of the organisation. In anticipation of news about the OPEC+ decision, the price of oil is rising - this indicates that market participants assess the possibility of new production cuts as quite real, even if...
As both institutional and retail traders await the OPEC + Meeting later today, we see technically the chart pattern and indicates an inverse head and shoulder and market is expected to break trendline and continue in the upward trend
Pivot: 81.90 Our preference: long positions above 81.90 with targets at 83.35 & 84.05 in extension. Alternative scenario: below 81.90 look for further downside with 81.25 & 80.70 as targets. Comment: the RSI is mixed with a bullish bias.
Inverted Head and shoulder pattern. We would wait for a breakout above the resistance level to form a new support level and bullish candlestick formation before looking for entry positions in the 30mins timeframe.