UK Brent Oil New forecast The price of Brent crude futures rose yesterday and reached 83.80, and found strong resistance there, showing some bearish tendency, waiting to stimulate the price to resume the expected bearish trend for the coming period, noting that crossing the 81.35 level will extend the bearish wave to reach the 80.00 and 78.87 areas. Therefore...
#Brent Crude Oil - H1 📣 Considering the chart structure on the 1-hour timeframe, with the breaches of the internal downtrend line in the range of 81.91, there is an expectation of price growth towards the range of 84.00. ⛔ Stop Loss: 80.50 On the other hand, with the breakdown below the 80.50 range, one may consider selling with a target of 78.50. ⛔ Stop Loss: 81.91
Oil Reverse Inverse Cup &Handle 1.Price Formation: The price has broken out from a Reverse Inverted Cup & Handle price formation on a daily chart. 2.Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a further confirmation of bearish sentiment. 3.200-day Moving Average is above the Price. 4.Thus, Mas 7<21<200 5.Relative Strength...
BRENT OIL The price can stabilize under the support line which was 80.92 and now about dropping to reach 79.31 and 78.50 will be the next support station Otherwise, stabilize above 80.98 then will try to do a retest till 82.26 and 83.60 Pivot Pivot: 80.92 Resistance Price: 82.40 & 83.68 support price: 78.50 & 75.50 Brent oil will move between 78.50 and...
Since the beginning of November, the price of Brent oil has decreased by more than 5%. This is due, among other things, to easing concerns about the escalation of the military conflict in the Middle East. According to the latest news: → Reuters: Iran does not plan to fight with Israel on the side of Hamas; → the UN Security Council adopted a resolution regarding...
Pivot: 81.80 Our preference: short positions below 81.80 with targets at 79.50 & 78.30 in extension. Alternative scenario: above 81.80 look for further upside with 82.40 & 83.00 as targets. Comment: the RSI is bearish and calls for further decline.
There is a possibility that the UKOIL, a trading instrument representing the price of crude oil in the United Kingdom, might experience a downward trend. The recommended take-profit (TP) level is at 77.2, while the suggested stop-loss (SL) level stands at 84.25. However, it's crucial to emphasize that engaging in any financial trading activity carries inherent...
UK Brent Oil New forecast The price of Brent crude futures continued to rise in the past sessions to approach the 83.17 barrier, as the price is testing this support, and therefore, breaking the 81.34 support will activate the negative impact and push the price to resume the downward corrective trend, heading towards visiting the 80.00 and 78.87 areas in the...
Oil Brent W1 - The formation of a 3-wave structure continues D1 - The price has reached 161 lvl. 3rd wave, which may mean further movement down to level 200 - 261 H4 - The price is in the correctional 4th wave, you can see the formation of an ascending channel. If the lower trend line is broken or fixed behind it, further sales to the levels of 75.4 can...
The creation of a higher ceiling, which has made the formation of a higher floor possible, has now confirmed its upward rotation and we can expect continued growth up to the ceiling of the channel.
Oil is having a bad signals for moment... its a sell due to economic reasons.. for moment its neutral to sell side!
The price of Brent crude has now given back all of the gains since the start of the conflict in the Middle East. The 200-day MA price of $82 is the critical price level to watch. A failed break below will be an early sign of another 5-wave impulse high toward $100 pb.
If the range of 80.3 units is broken and the price stabilizes below it, the price may fall to the range of 79.8 units, and in case of strength, the range of 78.5 units. Otherwise, the possibility of price increase up to the range of 82.5 units.
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