Pivot: 81.80 Our preference: short positions below 81.80 with targets at 79.50 & 78.30 in extension. Alternative scenario: above 81.80 look for further upside with 82.40 & 83.00 as targets. Comment: the RSI is bearish and calls for further decline.
There is a possibility that the UKOIL, a trading instrument representing the price of crude oil in the United Kingdom, might experience a downward trend. The recommended take-profit (TP) level is at 77.2, while the suggested stop-loss (SL) level stands at 84.25. However, it's crucial to emphasize that engaging in any financial trading activity carries inherent...
UK Brent Oil New forecast The price of Brent crude futures continued to rise in the past sessions to approach the 83.17 barrier, as the price is testing this support, and therefore, breaking the 81.34 support will activate the negative impact and push the price to resume the downward corrective trend, heading towards visiting the 80.00 and 78.87 areas in the...
Oil Brent W1 - The formation of a 3-wave structure continues D1 - The price has reached 161 lvl. 3rd wave, which may mean further movement down to level 200 - 261 H4 - The price is in the correctional 4th wave, you can see the formation of an ascending channel. If the lower trend line is broken or fixed behind it, further sales to the levels of 75.4 can...
The creation of a higher ceiling, which has made the formation of a higher floor possible, has now confirmed its upward rotation and we can expect continued growth up to the ceiling of the channel.
Oil is having a bad signals for moment... its a sell due to economic reasons.. for moment its neutral to sell side!
The price of Brent crude has now given back all of the gains since the start of the conflict in the Middle East. The 200-day MA price of $82 is the critical price level to watch. A failed break below will be an early sign of another 5-wave impulse high toward $100 pb.
If the range of 80.3 units is broken and the price stabilizes below it, the price may fall to the range of 79.8 units, and in case of strength, the range of 78.5 units. Otherwise, the possibility of price increase up to the range of 82.5 units.
Brent oil prices bounced back from the multi-month low touched on Wednesday, hedging just over the $80 per barrel level in early morning trading. Crude prices suffered this week, dropping more than 5% on future demand concerns, as well as lowered perceived supply risks from the Israel and Gaza situation. Inflation data from China, the world’s top oil importer,...
UK OIL New forecast The price of Brent crude futures faced strong negative pressure to break the level of 86.68 and closed the daily candle below it, heading towards achieving an expected decline during the coming sessions, targeting targets at 84.50, and by breaking it, it will reach 83.80 as a main negative station. Therefore, a bearish bias will be expected...
In this video, we embark on a comprehensive analysis of UKOil, with a specific focus on the prevalent bearish sentiment observed in the 1-month (1M) and 1-week (1W) timeframes. Notably, our charts reveal that Brent has approached a critical support level, a pivotal juncture. Throughout this presentation, we delve into the fundamental tenets of technical analysis,...
TVC:UKOIL idea The price can stabilize under the support line it is 83.53 and will try to drop to 82.25 and under it will get 80.92 but if can stabilize above 83.53 then will try to get 84.76 Pivot Pivot: 83.53 Resistance Price: 84.76 & 86.20 support price: 80.92 & 78.50 Brent oil will move between 84.76 and 80.92
Brent Crude is currently on a bearish trend and may be approaching a demand zone with prices falling within the range of 83.5 - 84.5. It's possible that a price rebound could occur in this range, targeting levels between 87.5 and 89. However, it's worth noting that resistance may emerge at these levels, potentially leading to a subsequent downward price...
OIL has started next leg of correction. It might try to touch trendline. The upmove from the previous swing low is corrective and it broke the 20 DMA. My stop is 20 DMA on closing basis or it breaches the swing high on intraday.
In my view Brent will test 78$ area before going above 100$
Oil Brent W1 - The price has formed a 3-wave structure, which may indicate a trend reversal, and if this scenario is implemented, it will be possible to potentially see the price at the level of 66.30. Judging by geopolitical data, due to the rise in oil prices and the growth of the asset, there was a local movement. To confidently enter sales, it is better...
Long term hold till $100 a barrel, technical and fundamentals are in sync, technicals are showing it is holding around certain area & currently it is just a pullback from my point of view & fundamentals are backing it as well
BRENT OIL The price of Brent reached our target and still running to reach 88.25 and above it will continue a bullish trend till 90.77 but if can stabilize under it then will drop again to reach 84.76 But stabilizing under 84.76 will support falling to get 83.53 and under it will get 80.92 Pivot Pivot: 86.16 Resistance Price: 88.24 & 90.80 support...