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...
Learning how to trade crude oil requires a nuanced understanding of its fundamental aspects, instruments, and trading strategies. This comprehensive article offers insights into the critical elements that affect crude oil prices, the range of instruments available for trading, and specific strategies traders use in this market. The Basics of Crude Oil Crude...
UK BRENT OIL New forecast The price of Brent crude futures suffered strong losses yesterday, as it approached the expected correction level at 86.93, awaiting for the price to be stimulated to resume the upward trend. Therefore now the price forced us to wait for to select the coming tendency ,where stabilized above 86.93 will be resuming the bullish waves...
Pivot: 87.40 Our preference: short positions below 87.40 with targets at 85.95 & 85.00 in extension. Alternative scenario: above 87.40 look for further upside with 88.00 & 88.75 as targets. Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
💬 Description: Today, the instrument is at the level of 87.45 and is most likely to prepare for a fall in the more medium term. But here it is necessary to take into account the geopolitical background, which greatly influences oil. Today, an idea is proposed, the time frames of which are within the day. Namely, long for the purpose of local updating of the...
UK BRENT OIL New forecast The price perfectly fulfills my last idea and reached to our first target +285 pip . The price of Brent crude oil contracts has made new attempts to penetrate the 89.55 level and is finding it difficult to exceed it, waiting for a strong positive incentive that will contribute to pushing the price to exceed this level and confirm the...
Monday's opening came without any surprises. Despite the news that the Israeli army is moving to a new phase of the operation in Gaza, the price of Brent oil did not change much, trading started around the middle of the Friday candle. The chart shows that the price of Brent oil has fluctuated between USD 86.60 and USD 89.10 since October 24th. At the same time,...
Weekly timeframe suggests that BRENT is in its second half accumulation area, which will last until April 2024. Inside the accumulation area OIL will in the range of USD 79-96, bottoming in the mid of December 2023 and topping in the end of February 2024. The last bottom of accumulation phase will happen in the mid of April at the level of around USD 90, but no...
UK OIL New forecast The price of Brent crude futures approached our expected negative target at 85.32 and rebounded sharply to penetrate the 88.38 level and stabilize around it, which prompts the price to try to stop the downward correction that is dominating recent trading. Therefore, we expect to witness further decline during the coming sessions, but on the...
Here Is My Analyst On Oil. I believe we are due to make higher highs next week. Looking at the 4hr & Daily shows bullish imo.
Oil has been bearish off late. but daily has shifted to down bias a couple of days ago. today being an inside value day with 1/2 volume is not the best of the setups but it's the only one to look for today. Grade C risk will be allocated if oil breaks below ARL and gives entry on 5M.
the 3 red small circles that are depicted are situated in the 3 red cloud area and price has touched all the 3 areas it seems that it acts as magnet for the price for simplification purpose I have tracked the price with lines so the price has the potential to touch dollar 51
Oil Brent The nearest target is at 96.00 in continuation of the 5th wave on D1 H4 - there was a fixation behind the correctional channel and a 3-wave structure may form, which may indicate continued movement up the trend. What to expect now? Expectation of breaking through the level - 89.25, locally the target is 91.40 - 94.88 When opening a...
BUY XBRUSD buy oil for a long for this week TP 92.50 1 week trend
Preferred direction: SELL Comment: For oil, the previous trading idea also worked out perfectly and the instrument is now trading at the level of 86.62. Despite the general tense geopolitical background, the instrument is still considered for sell, and the purpose of the sale is gap closing. Presumably, this goal will be achieved within one trading week. ...
UK BRENT OIL New forecast The price perfectly fulfills my last idea and price reached to our second target +230 pip . The price of Brent crude oil futures is trading negatively now, putting pressure on the 88.38 level, reinforcing expectations of a continuation of the downward trend for the rest of the day, paving the way for heading towards our negative...
Pivot: 90.60 Our preference: short positions below 90.60 with targets at 87.00 & 86.25 in extension. Alternative scenario: above 90.60 look for further upside with 91.10 & 91.80 as targets. Comment: the RSI is below its neutrality area at 50%
The geo-political situation is worsening... We might see a crypto-like movement in Oil terms pretty soon...