There is a lot of selling pressure at these levels, and I don`t think the prices will be able to stay in this area much longer. I expect Brent oil prices to drop to 40-42$ per barrel by the end of 2017/early 2018, and go up from there to higher levels at 60-70$ per barrel by the end of 2018. One of the factors being able to influence negatively the price of oil...
There is a MACD divergence almost completed on H4 TF that most probably will bring the price below the green trendline, all the way towards the bigger red trendline support. From there I expect the price to keep dropping much further around 2017 minimum. On a bigger Daily and Weekly TF's, I think oil is in a flat type correction with the B wave almost done at...
Please Click the Chart at below you will see my ideas day by day We were wait for Bat Formation at 45.20 Bat Formation worked good and it reached TP1 at TP1 it made Ascending Triangle after it Breaked the Resistance of Triangle, it went to the D point Of new Bat Pattern at 53.50 at 53.50 we sold, and we waited to Throwback to Resistance to Support...
As we can see Brent Crude Oil price is approaching the same resistance level as before, this will be the 4th touch performed by the price, within last and this week. If it breaks through the resistance level (indicated by the purple range) the price will remain in the upward trend and further long positions will favorable. However if it won't be able to break the...
Brent Crude Oil formed a range where it performs relatively uncertain movements. Searching for short term trends are favorable.
we'll look to short @ $56 - $60
Potential rally breakout IHS in crude. Normally don't like IHS patterns but this one looks legitimate.
BCO/USD is showing a potential inverse head & shoulders on the monthly chart. long term target prices are labeled in the chart. first tp is a probable support level, second tp is based on pattern projection. this is based on pure TA, so as always, it could be wrong. trade at your own risk.
SELL STOP 55.30 | STOP 56.30 | TAKE 54.20
if we're gonna enter short we wait for price to reach the D point or the top resistance zone area..
the break defined a steep trend. I'll monitor these trends to see if a reverse move happens. Considering the fact that this pattern required a fairly long period to be formed, plus the price has bounced over a very strong support and resistance range defining a new probable ascending trend.
symmetrical triangle over the weekly scale broken, a first take profit to Watch around 70-71, otherwise a 80 level might be feasible or even higher. Anyway around these levels a strict following of the chart should be done. stop loss 54