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
A gartley pattern is forming if confirmed rerverse long from 82,5$ level
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 The war in Ukraine is not just a war between the two countries, it is a geopolitical problem that will affect all world economies. 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...
Given the optimism over China re-opening, oil is not doing great at all. Brent looks like it is heading to $80 a barrel from here. The latest weakness of course has a lot to do with the OPEC+ deciding against even steeper output cuts than those agreed in October. At the weekend, the group agreed to stick to its oil output targets. In October, the OPEC+ had...
ChoCh+Liquidity grab+Imbalance+Swing Low Entry: 81.80 SL: 80.90 TP: 87.14
Q1 2023 Current competition between Russia and Arabs dumping their holding signals .. Off load ASAP. I view price will reflect soon. Be on the watch. I see no impact or no new tension escalating should arise soon.
Commentary: Despite the optimism around the reopening of China from COVID restrictions, oil prices remain vulnerable to fears of a global economic slowdown. The EU’s price cap at $60 per barrel while OPEC+ is expected to maintain existing production targets adds towards the bearish outlook on price. Brent crude : Last weeks gains can be viewed as a...
Oil seems to be going down. The ELwave count shows that we are in the wave C of Y and the correction phase is in progress yet.
On the monthly chart we can see brent short movement from 133$ moving in a falling wedge, my target 60$ area is 0.382 fibo retaracement of the bullish movement started @16$ and stopped @133$. So we can see the move from 133$ to 60$ a correction of the primary bullish trend started from 16$ so I expect from 60$ the restarting of the long term bullish trend with...
UKOIL broke through the descending channel . The price action tested the trendline and closed below it. It failed to make a higher high, resulting in an H&S pattern. The market is making a pullback on the larger scale of the bearish trend . ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
In my view Brent falling will sto @82,8$ area where price inversion will start to target 93$ area
There are three main fundamental reason for this analysis.First of all, due to insufficient investment there will be massive lack of supply in next 10 years.secondly,Geopolitical tensions in Middle East will be definitely increased by coming Republican party in The Withe House.Third reason, Fed policy in recent 20 years have left no way except accepting 6% or 7%...