Brent on a double edge swordThe Brent is on a very critical wave by either surpassing the 107 to form a right should of a bottom H&Ss or going very short to lower levels.
Brent
✅USOIL WILL GO DOWN|SHORT🔥
✅USOIL was trading in an uptrend
But after the retest of the horizontal resistance
On the daily time-frame
The pair broke the rising support
And after the pullback bearish continuation is likely
SHORT🔥
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$BRENT outlook and setups.BLACKBULL:BRENT OUTLOOK and levels 🛢️
1. Long setup on golden fib + 50dma + wedge.
2. Short if broken below.
* Only TA. Disregards any agreements of fundamentals such as potential pending Saudi agreements, cuts, or alternatives.
OIL short term UP!Despite recent OPEC+ agreement, oil prices look like it will not make them bullish for long. Long-term forcast - it's going down. Right now there is a possibility for short-term pullback.
CRUDE OIL Breakout Long! Buy!
Hello,Traders!
CRUDE OIL was trading below
The falling resistance but now
We are seeing a strong breakout
Which makes me expect
The price to further up
Buy!
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✅USOIL WILL GO UP|LONG🚀
✅USOIL broke the falling resistance
Which makes us locally bullish biased
So I think that after the retest
Of the support cluster below
We will see a move up
To retest the local resistance above
LONG🚀
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CRUDE OIL (WTI) 2 Important Breakouts 🛢
Last week was very bullish for WTI.
The price even managed to break and close above a solid horizontal supply zone and a major falling trend line on a daily.
The underlined blue area on the chart is a confluence zone based on broken horizontal and vertical structures.
From that, a bullish move will be expected to 97.0.
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XAUUSD Weekly TF Update : 10.09.22According to the latest analysis uploaded in the weekly time frame in TradingView, I expected a drop in that week from its highest level! There is a high possibility of more fall in the current week, so pay special attention to the analysis in the lower time frames!
Lower Time Frame Analysis :
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⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 10.09.2022
⚠️(DYOR)
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Is Crude Oil - WTI Really on a Hike?In the daily chart of WTI, we can detect a hidden divergence in MACD and price. Friday’s movement was strong but it was not significant to the strong yearly pivot resistance and stayed below 200 MA. It can be only a fake breakout. Yet, we shall observe every new detail closely.
If it fails at the 200 MA resistance, be prepared to go short. Unless the fundamentals of the Ukraine war take over and the panic pulls up the chart.
Brent tanking soonBrent is in a predominant falling wedge channel.
As I have mentioned this week, channels are always stronger than breakout patterns.
So we need the price to break below or above a certain level, before the price stops meandering...
The first target is to the top of the channel at $97 then down to $88 (channel).
If the price breaks below the channel then we could see a target of $67.65
I am bearish with Brent STILL.
BrentBrent: After breaking through the reversal wedge, it achieved its full trend now and rose 500 points, and now in the case of breaching the resistance b by closing, it is expected that the rise will continue to the harmonic retracement areas identified on the chart.
Crude Oil about to dump CL to falltwo days ago they gave you news that there is supply cut; retail are rushing in to buy oil to take to new highs
but little do they know the plan is to take the oil down to abyss
the plan is evil and eveyrthing is planned
Go with trendWe keep making lower highs and lower lows so I'd rather going with trend than fomo in.
We might see reversal if that area is broken
CRUDE OIL (WTI) Key Levels to Watch 🛢
As I predicted, OIL is growing nicely.
Here is my fresh structure analysis & key levels to watch for you:
Resistance 1: 89.0 - 90.35 area
Resistance 2: 97.0 - 97.70 area
Support 1: 81.9 - 83.0 area
Support 2: major broken trend line
Consider these structure for pullback/breakout trading.
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Macro and TA is making Oil look ripe for an upward moveMacroeconomic trends with a rough heating season for Europe, the continued war in Ukraine, the internal troubles in Iran, and the most recent OPEC+ meeting makes the macro position for Oil look bullish.
Looking at the charts it looks likely that oil will challenge the downward trend that has persisted recent months and coming two days let us know if it'll begin a bullish upwards trend.
Target 93.5In previous analysis, brent hit the target 85.5
Now it's time for long, maybe a pull back or a long term bull run, I have no idea.
TP 93.5
SL Stop under 85.5 weekly close.
#BRENT update - Breakout confirmed, goes to $101Hi guys! 👋🏻
🔔 Brent crude price was squeezed in a descending triangle, and a breakout from the triangle was expected, so it happened as seen on the chart
🔔 Brent crude price is traded at $91 trying to hit the key resistance of $91.60 up ahead.
🔔 I do anticipate the price to slow down a bit when reaching the aforementioned resistance, however the path to $101 stays clear.
🔔 Opec+ will cut production by 1M, which is 3.4% of the current daily production volume.
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crude & DXY cycle looks little similarcrude doesn't seems to ease out quickly
until 2024 it'll be up
SELL USDCAD I will reenter this short again, with OPEC Cutting oil production by 1 million barrels/day CAD is set up for massive strength as oil will shoot. This is a great place to short. Use proper money management. Any manipulation to the upside will not exceed level 1.40000. All the best fellow traders.
Oil Trend in OctoberThe wedge has been valid for about 3 months. According to MACD, we can see weakness and bear exhaustion in the price. Considering the current fundamentals, we can expect a sharp movement toward the upper resistance.
Brent: Hang on! 🐻Bulls and bears are competing for preeminence, and both of them have gained the upper hand now and then. In the long run, we expect the bears to win this battle, though, and to drag Brent to the green zone between $77.10 and $42.16, where it should finish wave III in pink. After a short countermovement to complete wave IV in pink, Brent should enter the blue zone between $66.48 and $59.58, which is enclosed in the green zone and where wave V in pink and wave 3 in blue should end. Another countermovement should then lead Brent upwards again before it should dive into the green zone once more to finally conclude the overarching downwards movement. However, there is a 32% chance that the bulls could be stronger and drag Brent above the resistance at $95.76, which would then result in a detour until the next mart at $105.42 before the bears can take charge again.
$UKOIL - Production cuts will pump it to $101Hi guys! 👋🏻
🔔 Surprisingly low US inventories data supported a short-term uptrend of Brent crude, comforting the price to hit $90 this week.
🔔 OPEC+ meeting scheduled on October 5 will be on the watch, as the cartel suggest a production cut of 100,00 barrels per day (bpd).
🔔 Brent once again retested the upper edge of the descending triangle, although the bullish run is yet to be confirmed. The confirmation is set under a breakout from the wedge and closing of the price above $91.60. If that is confirmed, then we expect the price to move further to $98 and $101.
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CRUDE OIL (WTI) Time to Sell?! 🛢
Hey traders,
Update for WTI Crude Oil:
the price finally retested the broken neckline of a descending triangle on a daily.
On an hourly chart, the market formed a double top formation and broke its neckline then.
It looks to me that WTI will drop soon.
Goals: 80.3 / 79.3
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