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A brief view I published late last week.
Brent Crude Oil
- Channel & Incline Support
- Re-test of prior 8x21-EMA cross
- Provisionally $73-$76 is a level of interest to carve out a short term and bullish reversal
Brent Oil: I don't think the downtrend is finished; I believe we will see lower prices on Brent Oil. However, I think the price has a correction or pullback to the trend line.
UKOIL reached a support zone after a sell-off.
The market is decelerating while approaching the support zone , indicating the bears are running out of steam.
We anticipate a short-term pullback.
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On oil, we can see a huge declining channel on the logarithmic chart since the last crisis. This channel was tested and rejected in October. In mid-January, the channel was breakthrought and tested. If we want to specify a target, we move this channel up. According to the Fibo extension, which we will stretch from the low from 1998 to the peak before the crisis of...
TVC:UKOIL is now trading below $76/pbl. Not much, it was one of those imaginary support levels. It might go to the sixties. How will JSE:SOL handle this?
We're finally seeing green! After waiting the whole year for Brent to reach the green target zone between $77.10 and $42.16, our British friend finally came through! We're expecting the course to sink a bit further to finish off green wave before heading back North above the $80.79-mark.
In my updated view current could stop @81.7 area then bearish trend will restart to 75$ area where a temporary inversion could start to target 84/85$ begore new dump t0 69/70$
In my long term view Brent is falling to 60$ area. I think that @75$ area a temporary bullish inversion will occur to test 85$ area then falling will restart to 68/69$ area
The price of oil made a strong downward movement after the decision on the maximum price of Russian oil came into force. In the near future, the oil market will be saturated with news. In turn, Russia stated that it was not going to put up with this decision, and according to the authorities, it is preparing three scenarios for retaliatory measures! Today, the...
Today we would like to share my opinion on the possible price of Brent Crude Oil in the coming years, analyzing the chart on a monthly timeframe
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The world's economies have not yet recovered from the Covid-19, and here is another...
Trade Idea: Selling Brent Crude Oil
Reasoning: Bearish flag forming after breaking major support.
Entry Level: 79.53
Take Profit Level: 76.53
Stop Loss: 80.53
Risk/Reward: 3:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical...
BRENT
1- the price reached support and resistance level
2- in H4 the price is forming a channel which is now at the bottom of the channel
3- if you follow the ichimiko school you will see the line is horizontal which means strong buyers are coming
4- we have confirmation on 5 min
5- we have price action
6- last one is the harmonic patterns is common now we...
