This commodity has been forming a pennant (an indication of a ranging momentum) for the past few weeks. Let us now focus on the shorter timeframes to have a clarity on where our entry positions might be.
Brent Crude Oil Price Is Declining Amid De-Escalation in the Middle East On 8th July, we noted that oil prices were forming a large narrowing triangle, originating from 2022-2023, with its upper boundary being a significant resistance point. As shown on the Brent oil price chart (XBR/USD), bulls have since failed to overcome the upper boundary resistance around...
WTI Crude Oil formed a classic bearish reversal pattern on a daily time frame - a head & shoulders pattern. Bearish violation of its neckline is an important bearish signal. I think that the market may reach 77.9 level next week. ❤️Please, support my work with like, thank you!❤️
Hello,Traders! CRUDE OIL is going down Now but the price will soon Hit a horizontal support Of 80.15$ from where We will be expecting a Local bullish rebound Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!
#BRENT - UniverseMetta - Analysis On D1, you can consider a potential retest of the trend line, which can indicate a local trend change. You can consider a 3-wave structure with little risk for a downward movement trade. If this scenario begins to be realized globally, the targets can be considered at the level of 76.73 - 70.10. Entry by market or from levels...
My Dear Robbers / Traders, This is our master plan to Heist WTI Crude Oil Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Short entry. Our target is Green Zone that is High risk Dangerous level, market is oversold / Consolidation / Trend Reversal at the level Bullish Robbers / Traders...
Crude Oil leaves multiple bearish clues. The price formed a double top and a rising wedge pattern on a daily and broke a neckline and a trend line of both patterns. On an hourly time frame, I see an inverted cup & handle with a confirmed violation of its neckline. Looks like the market is overbought. We may expect a correction to 82.07 ❤️Please, support my...
Hello Traders ! The USOIL failed to break the resistance level (83.77 - 84.42). The price formed a double top pattern. At the moment, The neckline is broken ! So, I expect a bearish move📉 ___________ TARGET: 80.76🎯
Oil prices have shown steady growth from $76 to $85 per barrel of Brent crude (#BRENT) since the beginning of June. This rise is driven by seasonal factors: high consumer activity during the summer driving season, increased demand from the transportation sector, and higher electricity consumption for air conditioning. However, a more significant development in...
#BRENT - UniverseMetta - Analysis On D1, after the impulse, the price broke through the previous highs with the 1st wave, which subsequently may indicate a potential correction within 40-50% of the impulse. On H4, a 3-wave structure is forming as the movement continues. You can limit yourself to a short stop at the level of breaking through the local second...
Brent Crude Oil Price Hits Highest Since 1 May As the chart shows, yesterday the price of Brent crude oil rose to $84.40, which is the highest level since 1 May 2024. The demand for Brent crude oil was driven by the following factors: The holiday season and increasing consumption from automotive and aviation transport. We wrote about this in the Brent market...
I see a breakout of an intraday horizontal resistance on WTI. After a violation, the market started to correct within the expanding wedge pattern. Test of a broken structure made the market bullish again. I think that bulls may push the prices higher today. Goal - 80.15 ❤️Please, support my work with like, thank you!❤️
#BRENT - UniverseMetta - Analysis Oil continues to move to H4, a triangle is formed; when it is broken, we can locally expect further movement to the levels of 85.92. Globally, the price may break through level 85, from which we can expect a correction and then look for an entry point to continue moving to levels to update levels 92 - 97 Local target 83.62 -...
During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from...
BLACKBULL:BRENT The proposed (Y) wave in oil already looks very well-proportioned in terms of size and time. There is a slight alternative scenario where prices could exceed $125, but more on that another time. Most likely, it will form a triangle. Update:
During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from...
WTI Crude Oil is testing a recently broken horizontal support. After a violation, it turned into a potentially strong resistance. Approaching the underlined area, the price formed a head and shoulders pattern on an hourly time frame. A breakout of its horizontal neckline is a strong intraday bearish confirmation for us. We can expect a bearish continuation...
OPEC and allies including Russia, have been implementing a series of supply reductions since late-2022, which have helped support oil prices and on Sunday they agreed to prolong those curbs . Around 3.66 million barrels (mbpd) of cuts that were due to expire at the end of the year were rolled over into 2025. The most recent tranche of 2.2 mbpd that would expire...