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Brent

CRUDE OIL BEARISH PREDICTIONSThis Thursday (31.03.2022) the president of the USA declared that the country will release from its strategic oil reserves, in coordinated effort with other countries. USA is planning to release 1 million barrels per day, while other countries might contribute 30-50 million barrels. This will erase the shortage of energy supply for the second quarter and might even lead to oversupply for the 3rd quarter. The price of Brent reflected on this, when Brent tested its previous support level of 104 USD. If the bearish move continues, it will probably tests its next support level at 102 USD. If instead the price reverse, it most likely will test its resistance at 108 USD. 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
1
WTI REMAINS INDECISIVEWTI prices remain highly volatile and highly responsive to the news following the russian invasion in Ukraine. After some progress in the peace talk between Russia and Ukraine in Istanbul, the price of WTI fell with 2% in Tuesday, but the situation there is far from over, so writing off some future rally due to new developments is out of the question. OPEC+ countries are expected to stick to their plan of gradually increasing oil production despite the high prices and will not give up to the pressure from Western countries to increase the supply. On the other hand, the lockdown in Shanghai and the new COVID measures in China might decrease its demands for oil. China currently ranks as the second largest consumer of oil in the world. On a technical note, a descending triangle pattern is formed by the price movement with support at 93 USD. If the price keeps falling, it will test that support level. If it continues to rise, it will test its previous high of 115 USD and after that its high of 126 USD. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. 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 such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTI
by legacyFXofficial
Short term bearishness in Brent CrudeFX_IDC:USDBRO is retracing in what seem to be wave C of ABC decline after completing a 5 wave impulse. There are 2 primary levels to watch out for - first is $87 based on A and C equality, but price could take support at the trendline and wave C could truncate or result in complex correction. That level would be between $98-$100. Having said that, once this correction is over, we are looking at next impulse which could be equal to the previous impulse (1-2-3-4-5). Keep an eye!
FX_IDC:USDBROShort
by YetAnotherTA
Brent Crude - Interesting Areas of SupportOil prices have been rising once again over the last week as the EU has considered banning Russian imports and an outage on a pipeline that runs through the country reduced output by around one million barrels per day. Sanctions imposed by the West have already caused significant disruption to Russian oil exports which could total around three million barrels per day, on top of the one million coming through the country from Kazakhstan. In an already very tight market, that could continue to support crude prices in the coming months, and should further disruptions occur, much higher prices could follow. In times of such volatility and headline-driven markets, technical analysis can be less useful as we see massive price swings throughout the day. But it can still be useful to be aware of key levels, as we saw earlier this month when the price rotated around $100. If the price continues to correct lower, one notable level that could be interesting is $111. This marks the 50% retracement of the recent lows to highs and the bottom of the 55/89-period SMA on the 4-hour chart. Prior to this, $114 could also be interesting, being the 38.2% retracement and the top of the same SMA band. Of course, as already mentioned, news is breaking all the time and the market will continue to be very sensitive to it.
OANDA:BCOUSD
by OANDA
Famine and food shortages. How do we invest? RJA and RJIFamine and Food Shortages are the talk over the last month as Russia invades Ukraine. How are we playing this? Where can people look to hedge inflation and war? Here are two simple methods we take a look at to play commodities and agricultural commodities. RJA and RJI by Jim Rogers we believe will continue to rise due to inflation and war. A little fast recently due to war but we expect more corn, wheat, oil, and safflower oil shortages in the next year or two simply based on this war. These commodities will and some are, being used as weapons at this point. I would ask myself, what's more important? Access to a world financial system that I can work around or food for my citizens? I would go with the latter as those with real "stuff" usually have the upper hand. I am not allowed to advertise other social media on TradingView but I can say there is a longer version and more detail out there. Watch, like, share, comment.
RLong
by DefyingFinance
1
TRADE OF THE WEEK | Finally I Caught This Move 💰 Hey traders, I was waiting for a quite long period of time to catch a bullish movement on oil after a pullback. This week the price finally reached a strong zone of confluence. From that, I was looking for a confirmation to buy. My confirmation was a double bottom formation on 1H time frame. I bought the retest of a neckline breakout. Great winner and nice trade. ❤️Please, support this idea with like and comment!❤️
TVC:USOILLong
by VasilyTrader
21
☑️BRENT: medium-term long➡️ The head of the International Energy Agency (IEA), Fatih Birol, warned on Friday: "The oil market emergency could worsen." The conflict in Ukraine and subsequent sanctions have reduced supply in the oil market to the detriment of demand, it will take time for the market to rebalance and it will take a period of high prices to attract new supply. Most likely, the medium-term outlook will be in favor of rising prices. However, at the moment, the movement will be directed towards the support level of 98.75$ , which is supposed to be the lower limit of the current trading range for oil. In the future, we can expect growth to 108.65$ and then to 120$ . ➖➖➖➖➖➖➖ 👍 Thanks for your comments and likes 👍 👇🔥 LINKS TO PREVIOUS IDEAS AND FORECASTS 🔥👇
TVC:UKOILLong
by TradePlus-Fx
16
OIL, THREE REASONS why did the price fall by 28%!WTI CRUDE OIL. About a week ago, oil almost has reached its all-time highs ( ATH ), but a few days later it fell by 28%. Why could this happen? Let's look at the situation in more detail! FIRSTLY, the White House promised to take oil sanctions off Venezuela in exchange for intensified negotiations between President Maduro and the country's opposition. Although the country positions itself as a friend of Moscow but the situation inside the country can make its own adjustments. To recall, the country is in deep crisis and its national currency has been devalued by 97%, but it has the largest crude oil reserves in the world! Would you miss such an opportunity? SECONDLY, despite Iranian air attacks on bases in Iraq, the Nuclear deal is expected to be signed next week. This would allow the U.S. to ease sanctions on Iran and allow the country to sell more Iranian oil . But of course we need to watch the official statements of the governments. THIRD reason, the British prime minister may visit Saudi Arabia next week to ask the country's leadership to increase the country's oil production. So far this is just a rumor, but could it come out of nowhere? These three reasons could have triggered the OIL price to fall! What do you think of the oil market? Share your thoughts in the comments! Friends, push the like button and share with your mates - that would be the best THANK YOU!
TVC:USOIL
by Yuriy_Bishko
12