UK Brent Oil 4H : wait for confirmation and then sell it
Updated
UK BRENT OIL
New forecast
The price perfectly fulfills my last idea and price reached to our second target +230 pip .
The price of Brent crude oil futures is trading negatively now, putting pressure on the 88.38 level, reinforcing expectations of a continuation of the downward trend for the rest of the day, paving the way for heading towards our negative targets, which begin with a break and stability below the 88.38 level to reach 86.93 and extend to 85.32.
The 50 moving average supports the expected downward trend, which will remain in place provided that a break of the 88.38 level is confirmed and consolidation below it.
The expected trading range for today is between support 86.93 and resistance 91.00 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 88.38 , 86.93
resistance line : 89.55 , 91.00
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price perfectly fulfills my last idea and price reached to our second target +230 pip .
The price of Brent crude oil futures is trading negatively now, putting pressure on the 88.38 level, reinforcing expectations of a continuation of the downward trend for the rest of the day, paving the way for heading towards our negative targets, which begin with a break and stability below the 88.38 level to reach 86.93 and extend to 85.32.
The 50 moving average supports the expected downward trend, which will remain in place provided that a break of the 88.38 level is confirmed and consolidation below it.
The expected trading range for today is between support 86.93 and resistance 91.00 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 88.38 , 86.93
resistance line : 89.55 , 91.00
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
UKOIL
New forecast
The price perfectly fulfills my last idea and price reached to our target +215 pip and still running.
For a period of Brent crude contracts specifically yesterday, it succeeded in crossing our first negative target at 86.93, confirming that the bearish contract has been executed and opening the way towards heading towards our next target, which is 85.32.
Therefore, the bearish bias will remain ahead during the coming stages, supported by the negative pressure formed by the dangerous mover 50, with choosing to break 88.38 will stop the negative scenario and lead the attack to try to discover the key again.
The expected trading range for today is between support 85.32 and resistance 88.38 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 86.93 , 85.32
resistance line : 88.38 , 89.55
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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