UK Brent 4H : Under sell pressure
Updated
UK Brent Oil
New forecast
The price of Brent crude futures rose yesterday and reached 83.80, and found strong resistance there, showing some bearish tendency, waiting to stimulate the price to resume the expected bearish trend for the coming period, noting that crossing the 81.35 level will extend the bearish wave to reach the 80.00 and 78.87 areas.
Therefore the downward scenario will be remain valid and effective supported by moving average 50 that is continue support the price to decline ,taking into account that stability above 83.80 will stop the expected decline and put pressure on the price to rise up.
The expected trading range for today is between support 80.00 and resistance 83.80.
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 81.35 , 80.00
resistance line : 83.17 , 83.80
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 of Brent crude futures rose yesterday and reached 83.80, and found strong resistance there, showing some bearish tendency, waiting to stimulate the price to resume the expected bearish trend for the coming period, noting that crossing the 81.35 level will extend the bearish wave to reach the 80.00 and 78.87 areas.
Therefore the downward scenario will be remain valid and effective supported by moving average 50 that is continue support the price to decline ,taking into account that stability above 83.80 will stop the expected decline and put pressure on the price to rise up.
The expected trading range for today is between support 80.00 and resistance 83.80.
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 81.35 , 80.00
resistance line : 83.17 , 83.80
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
Trade closed: target reached
UK Brent Oil
Update
The price perfectly fulfills my last idea and price reached to the near to our second target + 100 pip .
The price of Brent crude contracts fell and succeeded in achieving our expected negative target at 81.35 and reached near our second target at 80.00. We expect it to continue the decline and head towards achieving negative targets again at 80.00 level and 78.87 level .
Therefore the downward scenario will be remain valid and effective during coming period supported by moving average and the pressure that formed from the bearish channel , taking into account that stabilized above 82.11 will postponed the bearish trend but not to ended the main bearish trend .
The expected trading range for today is between support 80.00 and resistance 82.11 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 80.00 , 78.87
resistance line : 81.35 , 82.11
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
UK BRENT Update
The price perfectly fulfills my last idea and price is near to our profit +180 pip.
If you want to hold pit SL at entry . or close partly
Trade closed: target reached
UK BRENT
UPDATE
The price perfectly fulfills my last idea and price reached to our targets +300 pip
The price of oil dropped during yesterdays trading after reached to our final targets and could stabilized under resistance zone between 78..30 - 78.87 , to confirm the continuation of the dominance of the downward trend in the immediate and short term, to targeting 77.53 again and extend to 76.57.
Therefore the downward scenario will be remain valid and effective during coming period supported by moving average 50 that is continue to push the price to drop. taking into account that stabilized above 78.87 level will postponed the bearish trend but not to ended .
The expected trading range for today is between support 76.57 and resistance 78.87 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 77.53 , 76.57
resistance line : 78.87 , 80.00
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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