TS ❕ BRENT: short to 85.15At the beginning of next week, a slight downward movement is expected immediately to support 85.15, from where the price is likely to continue its upward movement to new highs.
SELL scenario: Due to a small rollback to support 85.15, one can open a short position with a small stop loss at the level of 88.65. The target, respectively, of the fall lies at the level of 85.15.
-----------------------------------------------------------------------------
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
Brent
Crude Prices Are Back to 2014Crude prices continue to rally as Brent crude benchmark prices rose to $89.04 per barrel on Wednesday, almost erasing the plunge of crude prices since 2014.
Crude prices rose after Yemen's Houthi group attacked the United Arab Emirates rising fears over further supply tightening. The attack further escalated hostilities between the Iran-aligned group and a Saudi Arabian-led coalition.
Many analysts are upgrading their forecast for crude prices. Goldman Sachs expects Brent cured prices to hit $100 per barrel in the third quarter of 2022. Oil producers are lagging behind to satisfy the increasing demand, which also support prices.
If we look at crude prices 7-8 years ago, we may see a strong resistance at $94.50-95 per barrel and there are no significant resistance levels before that. U.S. crude inventories traditionally published on Wednesday this week will be released on Thursday as the United States celebrated Martin Luther King Day this Monday. According to the forecast crude inventories may fall by 1.367 million barrels on the previous week making it the eights in a row in terms of falling crude inventories.
Technically speaking the existing upward trend that started December 20 last year has a very steep angle that may mean an easier change of the trend. The support level for crude prices is within $86.40-86.50 per barrel area, and since prices are above this level the upside movement has the upper hand.However, we may soon see a slight correction of Brent crude prices to the $86.40-86.70 area, where the recent October 2020 peak is located.
Traders should be cautious to open any buy operations close to the new highs at the markets is seen overheated. To open buy positions it would be wise to use any corrections to the strong support levels.
TS ❕ GOLD: trade in rangeAs expected, now the maximum level to which gold can rise is 1827.950. In the future, if the price manages to close in the range of 1813.885 - 1827.950, then further growth can be expected. Otherwise, the direction of the metal will be towards the level of 1800.
BUY scenario: This buy deal implies a trade within the range 1813.885 - 1827.950. Therefore, the long is considered strictly from 1813.885 with the target of 1827.950. In this case, the risk/reward ratio of 1/2 and 1/3 is considered.
-----------------------------------------------------------------------------
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
TS ❕ BRENT: above 85$Oil is likely to hold above 85$ in the near future. At the moment, a small downward correction suggests itself, but you should be careful, as the price is moving in a strong uptrend.
SELL scenario: A deal to sell is expected after the formation of the third top. This setup will be as confident as possible with the target of 85.15.
-----------------------------------------------------------------------------
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
OIL, keep growing to RESISTANCE zone . UKOILHello traders. Everything is clear on the chart for you like always, the Oil needs a fixation above 87$ like a daily or weekly close to growth. Buy points are 80-82 and after pullback to 87. The target is 98-103 $. Good luck.
If you like the idea, do not forget to support with a like and follow me for next analysis :)
Write your comment and opinion here to me
UKOIL - SHORTThe price has reached Supply Zone. A Bearish Harmonic Pattern has been formed. Strong Sell!
UKOIL - SHORT
ENTRY PRICE - 85.35
SL - 87.30
TP1 - 79.30
TP2 - 74.60
Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments.
Have a nice day!
TS ❕ BRENT: test 85.15Oil buyers have done a great job in their favor by closing the week above the level of 85.15. Now one should expect a test of this level, from where you should set the buy priority for yourself.
SELL scenario: A rollback to 85.15 is not long in coming, and on Monday you can try to sell accurately. The best option was a candlestick formation at current levels that would indicate short.
-----------------------------------------------------------------------------
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
✅CRUDE OIL SELLING OPPORTUNITY|SHORT🔥
✅CRUDE OIL is about to retest a key structure level
Which implies a high likelihood of a move down
As some market participants are taking profit from longs
While others find this price level to be ok for selling
So as usual we have a chance to ride the wave of a bearish correction
SHORT🔥
✅Like and subscribe to never miss a new idea!✅
Brent is under 7 years high, after breaking 14 years correction Brent oil is successfully pulled back to the top of its correction structure from 2008. Now it faces with critical high of 86.71$, that is not broken from 2014. It is clear with some precision that the target of double bottom pattern is the same historical high at 147.50$ per barrel.
TS ❕ GOLD: slight rollback downThe metal is trading in the resistance zone, which may lead to a drop to the level of 1796.684 at the moment. However, this requires the price fixing below the resistance line, or better even below the level of 1813.886. In principle, the price area 1796.684 - 1813.886 disposes to further growth of Gold, but now a rollback downward is possible.
SELL scenario: The strongest signal to short is now the price close below the level of 1813.886. The target of the fall is the support level 1796.684.
-----------------------------------------------------------------------------
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
TS ❕ CADJPY: under 92.178As a result, the upward impulse for the CADJPY currency pair came up against the resistance level 92.178, which has already manifested itself in history. In the nearest future, the price will most likely be just below this level.
BUY scenario: An attractive buying area is located near the support level 91.270. Where can one try to look for points to buy with the target of 92.178. The area is excellent in terms of a good risk/reward ratio.
-----------------------------------------------------------------------------
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.