Brent oil prices bounced back from the multi-month low touched on Wednesday, hedging just over the $80 per barrel level in early morning trading. Crude prices suffered this week, dropping more than 5% on future demand concerns, as well as lowered perceived supply risks from the Israel and Gaza situation. Inflation data from China, the world’s top oil importer,...
UK OIL
New forecast
The price of Brent crude futures faced strong negative pressure to break the level of 86.68 and closed the daily candle below it, heading towards achieving an expected decline during the coming sessions, targeting targets at 84.50, and by breaking it, it will reach 83.80 as a main negative station.
Therefore, a bearish bias will be expected...
In this video, we embark on a comprehensive analysis of UKOil, with a specific focus on the prevalent bearish sentiment observed in the 1-month (1M) and 1-week (1W) timeframes. Notably, our charts reveal that Brent has approached a critical support level, a pivotal juncture. Throughout this presentation, we delve into the fundamental tenets of technical analysis,...
TVC:UKOIL idea
The price can stabilize under the support line it is 83.53
and will try to drop to 82.25 and under it will get 80.92
but if can stabilize above 83.53 then will try to get 84.76
Pivot Pivot: 83.53
Resistance Price: 84.76 & 86.20
support price: 80.92 & 78.50
Brent oil will move between 84.76 and 80.92
Brent Crude is currently on a bearish trend and may be approaching a demand zone with prices falling within the range of 83.5 - 84.5. It's possible that a price rebound could occur in this range, targeting levels between 87.5 and 89. However, it's worth noting that resistance may emerge at these levels, potentially leading to a subsequent downward price...
OIL has started next leg of correction. It might try to touch trendline. The upmove from the previous swing low is corrective and it broke the 20 DMA.
My stop is 20 DMA on closing basis or it breaches the swing high on intraday.
Oil Brent
W1 - The price has formed a 3-wave structure, which may indicate a trend reversal, and if this scenario is implemented, it will be possible to potentially see the price at the level of 66.30. Judging by geopolitical data, due to the rise in oil prices and the growth of the asset, there was a local movement. To confidently enter sales, it is better...
Long term hold till $100 a barrel, technical and fundamentals are in sync, technicals are showing it is holding around certain area & currently it is just a pullback from my point of view & fundamentals are backing it as well
BRENT OIL
The price of Brent reached our target and still running to reach 88.25 and above it will continue a bullish trend till 90.77
but if can stabilize under it then will drop again to reach 84.76
But stabilizing under 84.76 will support falling to get 83.53 and under it will get 80.92
Pivot Pivot: 86.16
Resistance Price: 88.24 & 90.80
support...
I see Brent heading to the $70-80 range in November and December. I believe this will be driven by economic worries. I believe either the Ukraine and Gaza wars will de-escalate. I see cost of living like mortgages putting downward price pressure on house prices which will drag the stock market down. I also see Gold being priced too high because the norm is 15 and...
Viewing below on my chart analyst, you can see we are within a important price range for oil to make a high lower to continue this bullish trend back to highs.
If price fails we will continue to sell to make a lower low
UK Brent Oil
New forecast
The price of Brent crude futures continued to rise to confirm the breach of the 86.68 level and stabilize above it, heading towards visiting the 88.38 level as the next main target.
Therefore, we expect to witness further rise during the coming sessions, and breaching 88.40 will facilitate the price’s task to reach 89.55, while...
BRENT OIL
The price of Brent reached the support line and now reversed, so it tries to stabilize at the bullish zone while trading above 84.76 to get 88.24
But stabilizing under 84.76 will support falling to get 83.53 and under it will get 80.92
Pivot Pivot: 84.76
Resistance Price: 86.89 & 98.24
support price: 83.53 & 80.92
Brent oil will move between...
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UK BRENT OIL
New forecast
The price of Brent crude futures traded with strong negativity yesterday, succeeding stably without support at 86.93. We note that the price broke this level and closed the daily candle below it, heading towards achieving a further decline, with its next target reaching 85.14 level, by breaching this level will open the door against...
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