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Brent

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
UKOIL H4 20% CORRECTION setup SHORT/HOLD(NEW)(SL/TP)Why get subbed to me on Tradingview? -TOP author on TradingView -2500+ ideas published -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -before/after analysis -24/7 uptime so constant updates 🎁Please hit the like button and 🎁Leave a comment to support our team! UKOIL H4 20% CORRECTION setup SHORT/HOLD(NEW)(SL/TP) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. 🔸 Summary and potential trade setup ::: UKOIL H4 chart review ::: chart is LOG SCALE ::: setup still valid expecting ::: 20% gains final TP BEARS ::: continuation setup strong DOWNTREND ::: NOTEWORTHY compression Rising Wedge ::: expecting a STOP RUN near 89 USD/bbl ::: cycle low for oil market at 60 USD/ bbl ::: BEARS maintain strategic control ::: 89.50 BEARS get ready to SHORT/HOLD ::: from overhead resistance / 3 drives ::: BEAR CYCLE not over yet ::: DO NOT BUY yet into BEAR MARKET ::: lower highs 96.50 // 91.50 // 89.50 ::: SHORT rips/rallies and get paid ::: 20% gains conservative TP BEARS ::: WAIT for rips/rallies and SHORT IT ::: recommend to SHORT/HOLD ::: SWING trade setup do not expect ::: fast/miracle overnights gains here ::: good luck traders 🔸 Supply/Demand Zones ::: N/A fresh demand zone ::: N/A fresh supply zone 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment short-term: BULLS / MORE GAINS ::: Sentiment outlook mid-term: BEARS / SUPER CYCLE RISK DISCLAIMER: Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
TVC:UKOILShort
by ProjectSyndicate
28
Brent Tests Multiple Crucial Lines and Levels to Target $90Brent oil (UKOIL) is traded near the very critical line of the EMA-100 (the orange area line) on the daily chart. Also, Brent is testing the important Fibonacci level of 38.2% of 87.32 along with the 3/1 line of Gann Fan. A breakout above these lines suggests a new bullish move for Brent price toward the green shaded area that has a bottom of 91.60 (a crucial support level) and a top of 95.29. The levels of 100.34-99.52 would be the next bullish target if a new breakout above 95.29 and the 4/1 line would occur. On the flip side, a clear rejection of the EMA-100 and 3/1 lines may invalidate the previous bullish hypothesis and would suggest a further decline toward the red area that consists the 8/1 line, the level of 80.99 and the bottom level of 78.36. Note: log scale is used in this chart. (I would appreciate any feedback on the Gann Fan drawing in this chart.)
TVC:UKOILLong
by SamerHa
2
Brent showing a further plummet to $67.89 Rising Flag has formed after the downtrend with Brent. The price has broken below the rising flag which confirms bearishness. 200 > 21 > 7 - Bearish RSI <50 Target $67.89 FUNDAMENTALS: We've seen the US Dollar start to strengthen a bit which is can continue to do so for the next few weeks. A strengthening US dollar can cause Brent crude price to drop because oil is priced in dollars. When the value of the dollar increases relative to other currencies, it makes oil more expensive for buyers using those currencies, which can result in decreased demand and lower prices. Additionally, a strong dollar can also make it more attractive for investors to sell commodities, including oil, in exchange for the higher-valued currency, putting downward pressure on prices.
ICEEUR:BRN1!Short
by Timonrosso
Joe Gun2Head Trade - Oil set to reverse corrective gains?Trade Idea: Buying Brent Oil Reasoning: Rallied into resistance Entry Level: 82.28 Take Profit Level: 78.99 Stop Loss: 83.63 Risk/Reward: 2.5:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
OShort
by Signal_Centre
WTI Crude Oil / CL1 - Accumulation Before Global ConflictA lot of fundamentals say that oil should be going up. A lot of Twitteratti and furus say that oil should be going up. Yet, it's not. Oil hasn't been bullish since literally June . The only reason sentiment is still confusedly bullish like this is because WTI isn't (yet) trading like bonds. People say that OPEC+ cutting production was some kind of battle with Washington and that the Biden Administration are doing some green energy nonsense saboteuring the country by selling off the Strategic Petroleum Reserve (SPR), because Joe Biden is senile. That's not what's happening. Are you high? The United States is going to endanger its energy reserves while it's in a war with Russia? Don't be fooled by appearances. You need to start exercising critical thinking. In my view, what has transpired is pretty simple: 1. The Biden Administration said they would refill the SPR at $80 2. When WTI fell to $76, instead of refilling it, they sold more of the SPR 3. They keep selling more of the SPR on this bounce at $80 and 90 4. The average price the SPR was filled at, the last time I looked, was $60 So why did OPEC+ cut production? Because they're smart money and they realized the United States is short on oil. The U.S. and its vassals (including Canada) are by far the largest producers of oil in the world. It's their market, especially while Russia is out of the picture, and whoever makes the market sets the price. So OPEC+ understands that oil is going down and cuts production accordingly. When the Biden Administration refills the SPR, that's the bottom, WTI will bounce hard, and OPEC will increase production again. This is a lot of words to tell you that oil is going to make new lows, not new highs. This call that I made at the beginning of September is still definitely in play. WTI Crude / CL - An Intervention: Saving Blind Bulls There are some really important factors to look at in the longer timeframe charts. Consider that we're almost all the way through October and yet WTI, while it's in a bearish market shift, has not made a monthly low: This is even more obvious on the Weekly, where a gap is revealed: This ~$80 January gap range has now been traded extensively but has not produced the requisite re-continuation of a bull run needed, which means that lower prices are on the way. The reason is, $120 was not the top. A big number like $180 or $220 is incoming, probably in 2023, but before then comes manipulation and accumulation, frankly speaking, probably in the $50 range. Whether bulls want to hear that or not or want to believe that or not, that's how it goes. Not very many people believed Natural Gas was going to go from $10 to $4.9 either, but it did. Natural Gas / NG - It's Officially a Bear. Now, Hold My Beer The big wild card right now is actually not the conflict between the Russian Federation and NATO/Washington via Ukraine as a proxy. Even less is it whether the Federal Reserve keeps clowning around with interest rates. Xi Jinping was just crowned leader of the notorious Chinese Communist Party for an unprecedented third term and has consolidated the Politburo with only his own people. But more concerningly, the man who should be fulfilling his historic role to collapse the CCP from within a la Gorbachev instead was quoted by ABC as having made communism and the deteriorating CCP "absolutely central to China's development and future." This amounts to an abject disaster in Xi Jinping's life, a disaster for the Chinese people, and a disaster for the human race. If man won't do something about the problem of the Chinese Communist Party and its campaign of organ harvesting Falun Gong, then Heaven will. The CCP may or may not attack Taiwan. That's a major wildcard in this call. Personally, I don't think the Party has enough stability while being sacked by Wuhan Pneumonia and hit by economic problems to really dare do it. Yet, the more imminent a possible attack on Taiwan is, or the more imminent a major escalation with Russia is, the more violently the US oil market makers will dump WTI/Brent to where they want it to be so they can accumulate and refill the SPR. How you want to trade it and what you want to do is up to you. But I believe we see a number like $89 on WTI this week and I intend to go long on bear ETFs with a target under $50 imminent by January. Oil is something that is going to make a violent and impressive new high, but those cowboys are not going to let early money and dumb money come along for the ride particularly easily. Be careful. Humanity has officially entered the most dangerous moment, and at a period where we're already in the proverbial "Triple Overtime." What you believe can happen and what is actually happening, in reality, are often two different things.
NYMEX:CL1!
by LordWrymouth
4