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Brent

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
BRENT CRUDE OIL BEARISH PREDICTIONSPrices of petroleum are declining due to increased output by OPEC and United States and weakening demand by the Chinese economy. RSI index of the Daily graph of BRENT is below the neutral line of 50, and MACD histogram, although still above 0 line, is declining. If the price keeps falling, it might test its previous support at 91.50 and if it breaks it, it might target levels of 84. Alternatively, it might try to reach levels of 105.5 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:BRENTShort
by legacyFXofficial