Initially postponed due to member disagreements, the OPEC+ meeting is now set for Thursday. Discussions are poised to delve into the consideration of deeper oil production cuts. Analysts foresee the potential extension or intensification of supply reductions into the coming year to stabilise oil prices, which currently hover around $80 a barrel. While the...
Last Monday we posted our weekly price prediction for Brent Crude Oil.
The chart above is our analysis. You can see further analysis in our previous post.
Our price prediction for last week was between $78.00 (Min) and $87.50 (Max).
As you can see from the chart below our analysis proved true. The price stayed within the range. However, it followed the bearish...
Most of the technical analysis from last week still stands true but I have added a new Fixed Range Volume Profile from the last peak and a resistance line from there as well.
Projected Price Range
The anticipated weekly price range for Brent Crude Oil is expected to fluctuate between $78.00 (Min) and $87.50 (Max).
Contended Price Levels
$81.00 - $78.00 High...
Oil Brent
D1 - The price has formed a triangular formation, which may mean that if it fixes beyond the lower line of the triangle border, the price may continue to fall further along the trend and further reduce the price to the levels of 70.19
When fixing behind the upper trend line, the price may reverse and begin to rise, since a 3-wave structure may...
The OPEC+ meeting that was scheduled to take place this weekend was postponed after disagreements from some of the African nations regarding the cartels production quotas. OPEC’s African members Angola and Nigeria have reportedly asked to have a higher production ceiling next year, after taking a cut in their quotas at the June 2023 meeting of OPEC+ as they had...
UKOIL has been making lower highs and lower lows.
Price is testing the resistance at 82.00, the fibo, and the channel's upper border, which is a dynamic resistance.
We anticipate a trend continuation and a retest of the support level.
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Brent Crude Oil Forecast 🛢️ TVC:UKOIL
Just like we called it earlier, the price dropped from 82.00 to 79, hitting our Take Profit sweet spot.
Now, even though the price popped above 81, it couldn't make higher high, and it's chilling below the 100-day moving average on the 4-hour chart.
Looks like we might see it slide back from 81.50 - 82.00 to 80. If 80...
Greetings, dear friends. I hope you are having a productive week.
I am happy to assist you in ensuring that all previous analyses are attached to each corresponding analysis. This will provide a comprehensive overview and help you make well-informed decisions. Please do not hesitate to let me know if there is anything else I can do to assist you further.
I want...
Greetings, dear friends. I hope you are having a productive week.
I am happy to assist you in ensuring that all previous analyses are attached to each corresponding analysis. This will provide a comprehensive overview and help you make well-informed decisions. Please do not hesitate to let me know if there is anything else I can do to assist you further.
I want...
During early Friday trading, Brent oil prices found some support as investors continued to weigh the likelihood of additional production cuts from OPEC+ producers. The previous two sessions were marked by significant oscillations in the price of the barrel. There was an overall fall of almost 2%, as traders reacted to news of the postponement of a meeting of...
Pivot: 80.80
Our preference:
long positions above 80.80 with targets at 82.00 & 82.60 in extension.
Alternative scenario:
below 80.80 look for further downside with 80.20 & 79.50 as targets.
Comment:
the RSI calls for a bounce.
The oil market is closely watching the developments within OPEC+ as the group prepares for a virtual meeting on November 30 to discuss...
well today we see no trends in chart , balance of power between bulls and bear
I expect short because price touched the top Range line
SL and TP is Not true ( just means short)
#Brent crude oil - H1
📣 Based on the chart structure in the 1-hour timeframe, if the resistance level around 83.85 is broken, one can consider buying with a target of 86.30.
⛔ Stop loss: 82.30
On the other hand, with the break of the 82.30 level, there is a potential for a price decline towards the 80.00 range.
⛔ Stop loss: 83.85
It's essential to perform...
Greetings, dear friends. I hope you are having a productive week.
I am happy to assist you in ensuring that all previous analyses are attached to each corresponding analysis. This will provide a comprehensive overview and help you make well-informed decisions. Please do not hesitate to let me know if there is anything else I can do to assist you further.
I want...
Brent Crude Oil Forecast 🛢️ TVC:UKOIL
Recent sessions saw a surge in Brent crude futures, hitting the top of a descending channel and undergoing huge correction currently. This paves the way for potential fall from 82.00 to 80 then 79.
The bearish trend remains strong as price got rejected from the 100-day moving average (4H timeframe). A break above 83 could...
