Context: Weekly – uptrend (UT), one-time-framing up Daily – uptrend Microstructure: Poor highs, poor lows Last day: value moved down Special notes: There are multiple signs of UT exhaustions: shortening of daily trend upthrust, daily volume dries up, last week value area overlaps with previous week Moreover, price is close to monthly resistance cloud....
Preferred direction: SELL Comment: Oil quotes are at fairly significant daily values. Sale transactions are relevant, and we are just looking for them, however, it is most likely not worth delaying the sale, since a more global picture is most likely in favor of the buyer. Targets for the current short trade are considered at the level of 83.42, not lower. ...
We can see how the price after an impulsive uptrend corrected to the 0.5 Fibonacci level. At this level we see the interest of a big player and price manipulation. Equal lows were formed. After taking liquidity off these lows we can look at opening a long position to fill the price imbalance. There I will be closing part of the position and waiting for higher...
After a 2 month consolidation and accumulation phase (04may-11Jul) and also after breaking various bearish trendlines since the Mar 2022 top Brent Oil has broken upwards to $81.49 this week. I believe Brent Oil will retest the support area around $77-78 over the next week or 2. I'll be looking for entries in the $78 price area for a long to $86-88...
UKOIL reached resistance, and it's pulling back from it. It is potentially printing the AB=CD pattern where the D point completes right at the fibo cluster level. The market is trading in the ascending channel, indicating the bears are running out of steam and the bulls are in control. We anticipate the continuation of this current trend from the psychological...
Brent is up 20% since the last 6 weeks (from 28.06.23) ever since OPEC+ extended production cuts to 2024 recently. www.theguardian.com Would this lead to an upward pressure on the coming months?
Brent Oil Analysis 14/08/2023 to 18/08/2023 The entry, exit and stop loss points are on the chart, please make sure of them and do not risk too much, this is our analysis and opinion, God bless me Please observe the capital carefully and do not risk more than 1% of your capital Good luck to everyone
Brent oil is testing support at 86.32. I think the price will pass it and go further - perhaps to the level of 83.30.
Brent crude oil had quite the month in July, climbing from $74 per barrel all the way up to $85. This price jump came from Russia cutting back on exports to Saudi Arabia, trimming all their oil production. Still, I don't think the price is going to burst out of its range of $72 - $88 per barrel yet. What's interesting is the strengthening of "crack spreads"...
The previous forecast for Brent oil was justified - the support of 86.35 was confirmed and the quotes updated the maximum. Perhaps the price will again approach this mark in order to re-test.
BRENT OIL to be bearish should stable under 87.69 then will reach 86.04 to confirm the bearish trend should break 85.17 and stabilize under kit to get 83.50 and stabilizing above 88.71 will be bullish to reach 91.43 pivot price: 87.69 resistance price: 88.71 & 90.00 & 91.43 support price: 86.04 & 85.17 & 83.50 Brent oil will move between 87.69 and 86.04
My Analysis for Brent Crude oil over the next few weeks!
oil is bearish. Motorists who are unsure which top-up oil to use in their car can now use a special text service to find out – while they wait. Recent research commissioned by Chevron Global Lubricants, part of Chevron Limited, which owns the Havoline brand, has shown the introduction of extended warranties and differing service intervals has left motorists...
Ascending channel just got completed on 1h timeframe so now we looking for sells
ukoil Ascending channel just got completed on the 4h timeframe so now we looking for sells long term
just look and see what is reallity. i start trading a year ago .i approach really good method that i think it works.
Brent oil updated the previous maximum. It has not gone far yet, and now further prospects are being determined. The support at 86.32 is likely to be tested in the near future. If it holds up, further growth will be possible.
The price is driven up by: → the policy of limiting oil production by OPEC+ countries. For example, Saudi Arabia last week announced a cut in production by 1 million barrels per day until the end of September, adding that the decision could be extended. Russia is also reducing production volumes. We wrote about the scenario of increasing growth in the price of...