mateka

mateka

As we can see Brent Crude Oil price is approaching the same resistance level as before, this will be the 4th touch performed by the price, within last and this week. If it breaks through the resistance level (indicated by the purple range) the price will remain in the upward trend and further long positions will favorable. However if it won't be able to break the...

mateka

Brent Crude Oil formed a range where it performs relatively uncertain movements. Searching for short term trends are favorable.

mateka

As Brent Crude Oil is reaching the previously reached top around $54.77 price level, it seems that short term, short positions are could be a good option in the next couple of hours. The resistance line Oil is facing seems to be a strong resistance. As long as Oil is above the upward green trend line long positions are favorable, when it break the trend obviously...

mateka Updated 

The price is at a key point at this time of the day, since it is just about to break the downward trend, which would mean that long positions would be favorable. If the price level turns down from the trend line we will remain in the downward trend and immediate short positions would be recommended.

mateka

The price level broke the upward trend on Friday. As long as the price remains under the downward trend line and under the $54.09 support level, short positions are favorable.

mateka

Brent Crude performed a massive increase in the past couple of days. The previous analysis is still valid, long positions are favorable as long as the price does not break the upward trend. The chart was updated with the different Murray Math price levels, which fits very well the price movements. I think that Brent Crude will rise further since the refineries...

mateka

Brent Crude Oil opened today with a gap (purple), which serves a as a strong support level for the price. As the trend is upward searching for good entries to take long positions are suggested. It might happen that smaller intra-day correction can occur to offset the rise, but all in all long positions are favorable.

mateka Updated 

Brent Crude Oil went into a rally yesterday and broke the short term downward trend. Now the underlying is shown to be overbought by the RSI Oscillator, which does not mean that we have to go short immediately, but it gives us the fact that Brent Crude Oil entered the overbought status based on this indicator. My suggestion would be to search for short positions...

mateka Updated 

Brent Crude Oil bounced back from the 52.72 price resistance level yesterday after the short-therm upward trend. As long as the price remains under the red downward trend-line, short positions are favorable. IF it breaks above the red trend-line then immediate long positions are suggested with a $52.72 take profit, which serves as a strong resistance level.

mateka Updated 

Brent Crude Oil seems to keep the downward trend for today, as long as the price do not break the downward trend short positions are favorable. I noted a price range between $52.00 and $51.40 price levels where the price was sidling before, therefore I would expect a moderate movement within that price range. If the downward trend breaks then we will have a double...

mateka

Brent Crude Oil went into a rally today, the $52.70 resitance level may broke if tomorrow the the price will stay above/below the $52.70 price level, which serves as a resistance currently, it is a more than realistic option that it will become a support very soon. At the moment it is unsure whether today's rise will continue or a correction is ahead of us. Based...

mateka Updated 

As the price bounced back from the $52.70 resistance level and broke the upward trend (both trend lines!) short positions were favorable. The $50 price level is a strong support level, which may hold the fall of the Brent Crude Oil price. My guess is that the price will remain above $50 and as the price gets closet to support level long positions will be...

mateka Updated 

The price may bounce back from the 52.70 resistance level and short positions will be favorable, if the price will break steeper trend line also than short positions get a double confirmation. However we have to notify that the event occurring in the Mexican Gulf related to Hurricane Harvey can override the predicted movement of this analysis.