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BCOUSD Potential for Bearish Continuation| 27th Sept 2022On the H4 chart, prices are moving in a descending manner hence we are bearish biased. Price is also below the Ichimoku cloud which adds confluence to the bearish market. We are looking for a retracement sell entry at 88.639 where the 50% Fibonacci line and 100% Projection line are. Stop loss will be at 93.423 where the previous swing high is. Take profit is 83.024 where the 161.8% Fibonacci extension line 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.
OANDA:BCOUSDShort
by FXCM
Crude Oil (WTI) Bearish Trend Continues 🛢️ Weekly update for WTI Crude Oil. From the beginning of September, the market was forming a descending triangle formation - a classic bearish accumulation pattern. Its support was broken on Friday last week. I believe that it will trigger a further decline. Next supports: 74.5 / 71.5 levels. For entries, consider a confluence zone based on a trend line of a triangle and its neckline. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
6
BCOUSD Potential for Bearish Continuation| 27th Sept 2022On the H4 chart, prices are moving in a descending manner hence we are bearish biased. Price is also below the Ichimoku cloud which adds confluence to the bearish market. We are looking for a retracement sell entry at 88.639 where the 50% Fibonacci line and 100% Projection line are. Stop loss will be at 93.423 where the previous swing high is. Take profit is 83.024 where the 161.8% Fibonacci extension line 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.
OANDA:BCOUSDShort
by Rockqet
2
Visualising victory for Ukraine and the oil pricesBack in February, when Russia launched its invasion of Ukraine, a victory for Kyiv would have been almost impossible to imagine. It's the classic David and Goliath. Recent developments on the battlefront, however, are starting to paint a different picture, showing the possibility of Ukraine ending the conflict with a win. On paper, the war is just between Ukraine and Russia. Its implications, on the other hand, knew no bounds and it demanded to be felt across the globe bringing about economic uncertainties and causing supply chain disruptions. While it did not start the energy crisis, the invasion surely made the situation worse. Nearly seven months into the war, people are hoping it will be over soon. Along with these hopes is the dream that the underdog (and innocent party) will claim the victory. Win for Ukraine Earlier in September, Ukrainian forces managed to recapture swaths of lands in the country's northeast that a few months earlier have been taken over by Russia. Considering this and the possibility that China's tacit support for Russia could be waning, it seems like momentum is on the side of Ukraine. If that indeed happens, it could mean good things not just for Ukraine but probably for the rest of Europe. Orysia Lutsevych, in an opinion piece for The Guardian, wrote that a victory for Ukraine is vital for Europe to be able to live in peace and work collectively to meet global challenges. Considering the support that a majority of the remainder of Europe and countries in other parts of the world have thrown behind Ukraine, defeat would further entice Russia to flout international law and the sovereignty of other nations. "The restoration of Ukrainian territorial integrity and, ultimately, peace will mean the collapse of Putinism as a doctrine and an end to Russian claims to territorial dominance elsewhere in eastern Europe and Central Asia," Lutsevych added. On the other hand, a victory for Russia would validate the country's aggressiveness and fuel its desire to further expand its territory. Russia uses newly conquered territories to stage further conflicts and a Ukraine victory would prevent that from happening. Aside from preventing future wars, a victory for Ukraine is also expected to reduce the risk of a mass famine and even restore the stability of economies that have been affected by the sanctions imposed on Russia for instigating the conflict. What happens to oil when Ukraine wins the war? When the war started, the price of oil surged past the $130 per barrel mark for the first time since 2008. The Brent benchmark neared the record high of $147 in March exacerbated by the conflict. Almost seven months into the war, the prices of oil somehow stabilized and is now at ~$90 per barrel for Brent crude as concerns about weaker economic growth and demand drag prices down. European countries have also been forced to impose price caps on electricity and oil and come up with new taxes for energy companies in order to support their people amid the ongoing energy crisis in the region. Many countries have also started finding alternative energy sources to compensate for the supply cut off from Russia. Russia has been using the energy crisis as another ploy in its grand battle scheme. Earlier in September, Vladimir Putin said: "We will not supply anything at all if it is contrary to our interests. No gas, no oil, no coal, no fuel oil, nothing." The potential impacts to the energy market of a Ukraine victory would depend on how Russia will take its defeat. Will it be a gracious loser and choose to capitalize on rebuilding bridges with countries that have been beneficiaries of its supply or a petty loser that will continue to lock in supply for it to use and to sell to select buyers who are probably allies and supporters?
BLACKBULL:BRENT
by BlackBull_Markets
OIL -12/9/2022-• Oil prices turned bullish recently • Short term trend is bullish, possible minor head and shoulders in play • If the scenario is to become true, we are now forming the right shoulder, the last move before the breakout • Highlighted on the chart is the distance between the head and the neckline which is around 9.00$ • If the bullish breakout occurs, we project this distance to the breakout point • Target should be around 100 figure, if we get the breakout around 90 • Note: Patterns have a chance of failure quite some times, so it is always recommended to wait for a breakout. Traders should be patient and try to get as much confirmation as possible such as increasing volume at breakout.
BLACKBULL:WTI
by RamziAbouAbdallah-CMT