I see Brent heading to the $70-80 range in November and December. I believe this will be driven by economic worries. I believe either the Ukraine and Gaza wars will de-escalate. I see cost of living like mortgages putting downward price pressure on house prices which will drag the stock market down. I also see Gold being priced too high because the norm is 15 and...
Viewing below on my chart analyst, you can see we are within a important price range for oil to make a high lower to continue this bullish trend back to highs.
If price fails we will continue to sell to make a lower low
UK Brent Oil
New forecast
The price of Brent crude futures continued to rise to confirm the breach of the 86.68 level and stabilize above it, heading towards visiting the 88.38 level as the next main target.
Therefore, we expect to witness further rise during the coming sessions, and breaching 88.40 will facilitate the price’s task to reach 89.55, while...
BRENT OIL
The price of Brent reached the support line and now reversed, so it tries to stabilize at the bullish zone while trading above 84.76 to get 88.24
But stabilizing under 84.76 will support falling to get 83.53 and under it will get 80.92
Pivot Pivot: 84.76
Resistance Price: 86.89 & 98.24
support price: 83.53 & 80.92
Brent oil will move between...
Market cycles are a cornerstone of financial trading, shaping the opportunities and risks faced by traders across various markets. This article delves into the key phases of market cycles, how they manifest in different trading arenas, and how traders can capitalise on these predictable patterns for trading success.
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UK BRENT OIL
New forecast
The price of Brent crude futures traded with strong negativity yesterday, succeeding stably without support at 86.93. We note that the price broke this level and closed the daily candle below it, heading towards achieving a further decline, with its next target reaching 85.14 level, by breaching this level will open the door against...
Learning how to trade crude oil requires a nuanced understanding of its fundamental aspects, instruments, and trading strategies. This comprehensive article offers insights into the critical elements that affect crude oil prices, the range of instruments available for trading, and specific strategies traders use in this market.
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UK BRENT OIL
New forecast
The price of Brent crude futures suffered strong losses yesterday, as it approached the expected correction level at 86.93, awaiting for the price to be stimulated to resume the upward trend.
Therefore now the price forced us to wait for to select the coming tendency ,where stabilized above 86.93 will be resuming the bullish waves...
Pivot: 87.40
Our preference:
short positions below 87.40 with targets at 85.95 & 85.00 in extension.
Alternative scenario:
above 87.40 look for further upside with 88.00 & 88.75 as targets.
Comment:
even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
💬 Description: Today, the instrument is at the level of 87.45 and is most likely to prepare for a fall in the more medium term. But here it is necessary to take into account the geopolitical background, which greatly influences oil. Today, an idea is proposed, the time frames of which are within the day. Namely, long for the purpose of local updating of the...
UK BRENT OIL
New forecast
The price perfectly fulfills my last idea and reached to our first target +285 pip .
The price of Brent crude oil contracts has made new attempts to penetrate the 89.55 level and is finding it difficult to exceed it, waiting for a strong positive incentive that will contribute to pushing the price to exceed this level and confirm the...
Monday's opening came without any surprises. Despite the news that the Israeli army is moving to a new phase of the operation in Gaza, the price of Brent oil did not change much, trading started around the middle of the Friday candle.
The chart shows that the price of Brent oil has fluctuated between USD 86.60 and USD 89.10 since October 24th. At the same time,...
Weekly timeframe suggests that BRENT is in its second half accumulation area, which will last until April 2024. Inside the accumulation area OIL will in the range of USD 79-96, bottoming in the mid of December 2023 and topping in the end of February 2024. The last bottom of accumulation phase will happen in the mid of April at the level of around USD 90, but no...
UK OIL
New forecast
The price of Brent crude futures approached our expected negative target at 85.32 and rebounded sharply to penetrate the 88.38 level and stabilize around it, which prompts the price to try to stop the downward correction that is dominating recent trading.
Therefore, we expect to witness further decline during the coming sessions, but on the...
Oil has been bearish off late.
but daily has shifted to down bias a couple of days ago.
today being an inside value day with 1/2 volume is not the best of the setups but it's the only one to look for today.
Grade C risk will be allocated if oil breaks below ARL and gives entry on 5M.
the 3 red small circles that are depicted are situated in the 3 red cloud area
and price has touched all the 3 areas
it seems that it acts as magnet for the price
for simplification purpose I have tracked the price with lines
so the price has the potential to touch dollar 51
