The entry, exit and stop loss points are on the chart, please make sure of them and do not risk, this is our analysis and ideas.
Please observe the capital carefully and do not risk more than 1% of your capital
Good luck to everyone
Due to the inability to break the resistance of 81.5 points upwards, if the upward trend of the price breaks down and the price stabilizes below the range of 78.0 units, there is a possibility of the price falling to the range of 76.8 units and in case of strength, there is a range of 75.0 units.
Otherwise, the possibility of price increase up to the range of 81.5 units.
UKOIL has been making lower highs and lower lows.
Price broke and closed below the psychological level of 80.00.
We anticipate a trend continuation and a retest of the support level.
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**Yearly Chart**
UKOil (Brent) last year's candle closed in a big range between 70 and 95 levels. While the intermediate trend suggests continuing the long-directional bias.
**Monthly Chart**
After retracing from an all-time high at around 125 level in 2022. The price retraced back to balance the move at 50% of the swing high and then remains in a range from...
Pivot
79.30
Our preference
Long positions above 79.30 with targets at 81.00 & 81.40 in extension.
Alternative scenario
Below 79.30 look for further downside with 78.60 & 78.00 as targets.
Comment
The break above 79.30 is a positive signal that has opened a path to 81.00.
Supports and resistances
82.10
81.40
81.00
80.19 Last
79.30
78.60
78.00
Number...
The entry, exit and stop loss points are on the chart, please make sure of them and do not risk, this is our analysis and ideas.
Please observe the capital carefully and do not risk more than 1% of your capital
Good luck to everyone
Brent
W1 - The price may form a potential 3-wave structure, which, if wave 1 is broken, will mean continued upward movement to the values of 95.90
D1 - You can observe the formation of a triangular structure with a breakout of the upper trend line. Globally, the levels that the price can reach are 92.04
What can you expect?
You can consider entering...
Pivot
76.80
Our preference
Long positions above 76.80 with targets at 77.70 & 78.15 in extension.
Alternative scenario
Below 76.80 look for further downside with 76.45 & 75.95 as targets.
Comment
The RSI calls for a rebound.
Supports and resistances
78.70
78.15
77.70
77.35 Last
76.80
76.45
75.95
Number of asterisks represents the strength of...
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As someone interested in the Elliott Wave principle, I find it to be a valuable tool for market analysis. I have developed my approach by combining this principle with my personal...
Its Break the Potential Reversal Zone and now moving Forward, After Some down its made its Correction and then its will go Up and Made Bullish flag it there is no Divergence.
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BRENT CRUDE DAILY CHART
Ellipse breakdown @ 72.500 MOB @ 63-60
Crude has witnessed a breakdown @ 82.955 marked by orange ellipse & hit target @ 72.871 as marked by red ellipse.
A break below red ellipse will open MOB @ 63-60 levels.
Its only an observation & not any suggestion or recommendation.
Mid-term Brent oil analysis
There is a possibility that the market will enter an upward ABC correction wave
The main support range is $75,000
The target range is $84,000
UKOIL rebounded from the support level.
Price decelerated while approaching the support level.
The market has reached a significant level on the daily chart, so it makes sense to buy the market.
We expect a bullish move to potentially break out of the descending channel.
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Share your opinion in the comments and support the idea with like....
TA normally considers a trend to be active until there’s evidence that it has ended, so further losses seem to be possible for oil in the medium term. However, the price recently made a higher low and doesn’t show any sign of buying or selling saturation. The main dynamic resistance in the short term which might cap gains is the 50 SMA around $80, also a...
We've all seen how oil reacted to the beginning of the Israeli-Palestinian conflict. I am sure that this conflict will not settle down quickly and will only increase. The conflict will involve other players in the region - Emen is proof of this fact.
How will oil react to this?
The suspension of supplies and other problems with oil supplies will provoke demand...
