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Brent

Going long on crude oil. The crude oil is currently trading around 74.8, with some support visible on the 4-hour chart. In the short term, there is upward momentum observed on the 1-hour chart. As a trading strategy, one can go long near 74.8 and target 76.3, with the possibility of further upside if the resistance at 76.3 is breached. If unable to break through, a short position can be considered at 76.3. I will keep you updated in due course. Short-term trading strategy: Go long near 74.8 with a target of 76.3. MCX:CRUDEOIL1!
TVC:USOILLong
by Ice_and_Fire1
3
Going short on crude oil at 77.8. At the start of the Asian market on Thursday, crude oil is currently trading around $76.5 per barrel. On Wednesday, crude oil continued to fall as concerns about more aggressive interest rate hikes weighed on economic growth and oil demand, outweighing the larger-than-expected reduction in US inventories. Although yesterday's decrease in crude oil inventories did not cause significant fluctuations in the price and quickly recovered, it shows that the overall trend of crude oil is weak. My trading strategy remains short, with a focus on selling high. My trading strategy is to short crude oil at $77.8, with a stop loss at $78.6 and a target of around $75. Investors can choose their own profit-taking points according to their trading style. The above is only a short-term trading perspective. I will notify you promptly if there are suitable opportunities. Liking, commenting, and subscribing are the best encouragement for me. Follow me to make trading simpler! You are also welcome to read my other ideas below. MCX:CRUDEOIL1!
TVC:USOILShort
by Ice_and_Fire1
1
Waiting for a rebound to go short. In the early Asian session, US oil traded near $77.20 per barrel. On Tuesday, crude oil plummeted more than 4%, affected by Chairman Powell's speech exacerbating concerns about interest rate hikes and a stronger dollar. Powell stated to lawmakers on Tuesday that the Fed may need to raise interest rates more than expected to respond to strong recent data, which led to a downturn in most financial markets. Today, shorting is favored in crude oil. Strategy suggestion: Sell crude oil near $78.3-$78.5 with a stop loss at $79.2 and a target near $76. I will also give an alert once it reaches the target. Follow me to make trading simpler. TVC:USOIL FXOPEN:XAUUSD
TVC:USOILShort
by Ice_and_Fire1
1
#Brent crude - an important inflection areaThis analysis is done on a monthly chart so this could still consolidate and take some time to play out but just a few interesting points to note: (1) the 200 month moving average (green line) has acted as a support and resistance level for the price of brent crude for the last decade and a bit (looks to be supporting price action currently) (2) the 61.8 fib from the extreme April '20 lows and March '22 highs come in at around $77.60 where the market recently bounced from (3) resistance monthly highs in October '18 and October '21 seem to be now acting as support (change of polarity). (4) RSI 50 level holding on the RSI (5) Price candle action (wicks) on the monthly chart over the last quarter shows that the bulls are ready to buy into any weakness during the month (6) Not shown on the chart but if you look at the daily chart we are forming a flat top triangle which usually breaks to the upside which also has a target at roughly $100 Given the significance of this consolidation zone between 77 and 84 leads to a high probability that OIL will once again move higher after this consolidation phase is complete. Thus on a medium term view I would use any weakness in Brent crude to accumulate a position for higher levels with a medium target around the $100 mark If you look at seasonality data for Crude oil futures in the past, you can see it enjoys a favourable period from the end of February to around end of September. www.equityclock.com
FX_IDC:USDBROLong
by MarcoOlevano
easyMarkets Brent Oil Daily - Quick Technical OverviewBrent oil continues to trade between two trendlines, a short-term upside one taken from the low of December 9th and a downside line drawn from the high of July 28th. As long as the commodity remains between those two lines, we will stay neutral. If the downside line gets violated, we will start examining higher areas as potential targets, however, more buyers may join in if Brent oil jumps above the 89-dollar mark. Additionally, the commodity could also rise above the 200-day EMA, which also could be seen as a bullish indication. Alternatively, a break below the aforementioned upside line and an additional move below the 80.43 zone may attract more sellers into the game, possibly clearing the way to the 75.00 area. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EASYMARKETS:BRTUSD
by easyMarkets
A close Above 76.71 Likely To Drive CrudeOil Price To Test 80!Oil price now in corrective mode on H4 and price is attempting to break out of this descending trendline. A close above 76.71 will confirm the breakout with crude oil price targeting 80. Also last week's indecision in the market may likely cause bullish run for oil IF this week candle ends in a strong bull above last week's high, else price continue its downward movement... N.B! - USOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast. - Let emotions and sentiments work for you - ALWAYS Use Proper Risk Management In Your Trades #usoil #crudeoil #wti #brentoil
TVC:USOIL
by BullBearMkt
2
USOIL - CRUDE OIL Investment & Uses🛢⛽Hi Traders, Investors and Speculators of the Charts 📈📉 Oil gets a bad rap these days, but the stuff is actually quite incredible. Many people think of crude oil as a thick, black liquid that is used to source our unquenchable thirst for gasoline and suffocate marine life. Although this isn't untrue; the reality is that each barrel of oil is refined to be used in a variety of applications that includes fuel, cosmetics, plastics, rubber, and candle wax. Recently I saw many news outlet's post on the price of crude oil at their economic section. the sentiment was the same - buy. The reasoning was that oil will become more scarce in coming weeks and therefore, the demand will increase. Unsurprisingly, the price of oil has gone DOWN. These are usually coordinated traps in the market, and it's best to counter trade when the media is going with one sentiment. The price of oil is declining seriously, with strong bearish pressure at $82. We see a nasty double top in the weekly, and I'll be looking for an entry between the support zone pointed out on the chart. So, why consider oil as an investment? The truth is, oil isn't going anywhere, any time soon. This is a commodity with a broad use case, and if you plan your trades, low risk trades with good profits can be made. Here is everything that can be made from just one barrel of oil: 🛢 🚗 Enough gasoline to drive a medium-sized car over 450km (280 miles) 🚛 Enough distillate fuel to drive a large truck for almost 65km (40 miles) ⛽Nearly 70 kWh of electricity at a power plant generated by residual fuel 💥 About 1.8 kg (4 lbs) of charcoal briquettes 🏕 Enough propane to fill 12 small (14.1 ounce) cylinders for home, camping or workshop use 🚧 Asphalt to make about 3.8 L (one gallon) of tar for patching roofs or streets ⚙ Lubricants to make about a 0.95 L (one quart) of motor oil 🎂 Wax for 170 birthday candles or 27 wax crayons But that’s not all. After producing all of the above products, there’s also enough petrochemicals leftover to be used as a base for one of the following: 👩‍👧‍👦 39 polyester shirts 👩‍🦰 750 pocket combs 😁 540 toothbrushes 🧺 65 plastic dustpans ⭕ 23 hula hoops 🧃 65 plastic drinking cups 🥛 195 one-cup measuring cups ☎ 11 plastic telephone housings 🥎 135 four-inch rubber balls The above serves as one example of how a single barrel could be used, but here’s a list of many other oil applications. It includes everything from guitar strings to antihistamines. Whatever your opinion is on fossil fuels, it’s still pretty astonishing what can be produced out of each barrel of oil. Here's a nice infographic to visualize : _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
TVC:USOILLong
by CryptoCheck-
32
BCOUSD Potential for Bearish Drop | 20th February 2023Looking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Stop loss will be at 8673.5, where the recent swing high is. Take profit will be at 7902.9, where the previous swing low is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FOREXCOM:UKOILShort
by FXCM
ALL Crude Oil Fractal Corrections' Structures Are Bullish!As forecasted in our Jan 29 post (chart below), crude oil found strong support to reverse price to the upside and price is now back at another resistance level at 80 circa. A break above the resistance level will expose crude oil price to test the swing high at 90. N.B! - USOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast. - Let emotions and sentiments work for you - ALWAYS Use Proper Risk Management In Your Trades #usoil #crudeoil #wti #brentoil
TVC:USOILLong
by BullBearMkt