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Brentcrude

Brent Crude Oil Back at SupportLast post: May 30th. See chart . Review: Price was bouncing off support and heading back towards $80. Update: Bullish strength was short-lived and the bears have taken price back to support. Conclusion: We want to see support hold strong again and for price to break through $80 and then trend through to $100. Patience needed. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
TVC:UKOILLong
by Sublime_Trading
Strength on Brent Crude OilLast post: May 27th. See chart . Review: Price is in a bull trend but was pulling back after finding resistance at $80. Update: Price has found support at a pivot level and we have seen strong bullish action today. Conclusion: A potential bull flag is possible but need a break and close above $80 and the May pivot high to confirm that. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
TVC:UKOILLong
by Sublime_Trading
A great opportunity to sell in Brent Oil. don't miss it.Midterm forecast: Although current trend is uptrend but we forecast a downtrend wave would begin in Midterm. Technical analysis: There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains. Relative strength index (RSI) is 47. Trading suggestion: There is a possibility of temporary retracement to suggested Sell Zone (77.65 to 80.40). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (77.65) Ending of entry zone (80.40) Entry signal: Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak" , in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 75.40 TP2= @ 73.25 TP3= @ 71.30 TP4= @ 68.85 TP5= @ 66.65 TP6= @ 62.35 TP7= @ 58.15 TP8= Free
FX_IDC:USDBROShort
by ForecastCity
1
$80 Resistance on Brent Crude Oil This commodity is featuring for the first time on our TradingView blogs. Current setup: Price has been in a bull trend since last year. Most recently, price broke out of consolidation in April and trended well to $80. Conclusion: Price is struggling to break through $80. We will be standing aside until a break and close above $80 to add more long trades. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
TVC:UKOILLong
by Sublime_Trading
Chart pattern signal shows price of Crude Oil to go higher.Long term view. The chart patterns in the ellipses are occurring twice in the last 9 years, first in 2009, and now again from end of December 2017 to present day, and as we see that cycles repeat, expectations are the price of Crude Oil to go even higher against $80 - $100 per bbl. And it is not the technical analysis that appoints to this scenario happening, but also yesterday we got very clear vision for the future price directly from Saudi Arabia, officials stated Saudi Arabia needs price of oil to get to $100, and considering they have the power to adjust the production output in partnership with OPEC members and also non OPEC members in accordance with the demand and risks occurring around the oil markets, we can expect positive months for the oil markets to come. As the price makes correction to the downside buyers are emerging on levels below $65 and $63. As we expect that the price will rise, it has probability of going up gradually with resistances occurring close to these levels: $70, $72, $75, $80, $92, $96. Link for a video analysis for the Oil. www.youtube.com Link for the OPEC's price hawk vision. www.reuters.com Risk warning! --------------------------------------------------- Trading carries a high level of risk to your capital and may result in losses that exceed your initial deposit. You should first be aware of the risk and know what you do before you proceed with trading. Supplied information is not advice.
OANDA:WTICOUSDLong
by TheTrade_Academ
WTI: Potential ABCD reversal to $57Crude (Brent or WTI) broke out their respective consolidation range over the last few days and are completing an xABCD pattern. If you would to pull out the weekly chart for CB11, you should be able to trace out an ABCD completion. Downside projection suggest a low teen downside target to $60 for CB1! and $57 for CL1!. Most traders are looking at inventory numbers and forgetting it takes strong oil demand to work down the inventories. If the Donald launches another round of tariffs on China and China retaliates, we can kiss the bullish demand picture good night.
NYMEX:CL1!Short
by WellTrainedMonkey
Brent Crude Oil approaching support, potential for a bounce!BCOUSD is approaching strong support at 63.54 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a nice bounce could potentially occur at this level to push price up to major resistance at 66.35 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is seeing major support above 2.1% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:BCOUSDLong
by Tickmill
Brent Crude Oil testing major resistance, potential for a drop! Brent Crude Oil (BCOUSD) is tesing major resistance at 66.64 (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) and a strong reaction could occur at this level to push price back down to 64.31 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance at 98% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:BCOUSDShort
by Tickmill
Brent Crude : Long -- Target -- 55 - 58 !!From the start of 2017, Dollar and Crude both are in sync !! Well the final crude rally is somewhat now restricted to upper base of $ 58 .. Our thought was it might reach $ 70 but the way this final Wave C is moving it might just make a double top around $ 58. Longer Term View : Brent Crude to go below last low of $ 30's maybe somewhat around $ 20 !! Shorter Term View : Possible Upside to $ 55 - 58 in coming next 2 months max. SPX500 : As goes Crude there goes SPX500 -- The bull rally is expected to continue by the year end and then it might follow Crude by Q1 of 2018 !!
CLong
by AnbHfund
Brent Crude Oil starting to break major support,watch for drop!Brent crude oil is testing major support at 68.50 (Fibonacci retracement, horizontal overlap support) and a break of this level could potentially drive price all the way down to 65.96 (Fibonacci retracement, horizontal overlap support). It is important to keep an eye out on our long term ascending support line too which could serve as potential intermediate support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:BCOUSDShort
by Tickmill
Short Brent Oil under 70.65 / could be my best Oil Trade everShort Brent under 70.65 $/bbl for a long term trade (sell and hold) SL @ 71.35 TP @ 61.10 I have little time to explain all the ideas behind that trade, but will make a big analysis in few hours about the idea and the numbers in trade. It will include fibonacci, EURUSD, the coming ECB meeting today and much more there. Good luck! I am in as soon we go under 70.65. _________________________________ Disclaimer: There is a very high degree of risk involved in trading forex and/or futures . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
FX:UKOILShort
by fxstudent299
Brent Crude Oil above major support, watch for a break!Brent crude oil is starting to show bearish signs and a potential reversal. Our major support remains at 68.60 (Fibonacci retracement, horizontal overlap support) and a break of this would trigger a bearish move down to support at 65.98 (Fibonacci retracement, horizontal pullback support). We can see that price has made a recent bearish exit of an intermediate ascending support-turned-resistance line triggering a potential reversal. Stochastic (34,5,3) is seeing a pullback to 54% intermediate resistance where we expect a further drop from. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:BCOUSDShort
by Tickmill
1
Brent Crude Headed for $65, $75 or $80 in 2017?Brent looks bullish based on confluence/alignment of 3 technical methods. 1) Elliot Waves - a 5 waves down and a simple ABC correction (with equal length A and C legs for a conservative target) gives C at $65.50. If C is equal to the high of the 4th wave the target is $69.60 2) Inverted Head & Shoulders gives a target of $78.65 3) The candles at 50% of the 3rd wave create a zone around the $80 level We need to see a weekly close below $52.50 to put the above in doubt
FX:UKOILLong
by CodeAndQuant
1
BRENT CRUDE OIL - BUY! Long Term At 15.01.2018 quatation tried break up resistance created by the low range of the 11.2014 candle TF 1 Month. Now we've got little correction. But we've got also a strong bullish chanel built from june last year. So ... we have a few SZ's from 1D TF & resistance lines on the way up! this year. And one pink TL. But I think zones and all that stuff could be only a chance for local correction. First target is around 95 $ (pink TL crossing channel), second target 100 $ (psychological barrier) and then mayby even higher? With this speed & movement in this channel we can reach 100 $ level circa september this year. Negation of this scenario: - of course if OIL break down lower range of channel especially in the area of zones or resistance - it could be biggest correction, consolidation or even change of actual trend. - if OIL break up channel- then the appreciation can be faster. I think TA in TF 1 Month could be very helpful too. Check up place's where the candle bodies contact each other in this TF. And check up fundamental economic events such OPEC decisions and oil reserves.
TVC:UKOILLong
by siZ
Brent Crude: UKOIL Last long shot,ready to reverse here if wrongBrent Crude Oil UKOIL Last long shot with tight stops ready to reverse here if wrong Right on key support at 62.18 with a low at 62.14. If this fails here the entire wave from the lows is exhausted. At this point, if seen, we switch from buying dips to selling rallies - it will fall away to 61.15, bounce some and then likely fall away to 59.44 and potentially much lower still. This is the 4th strike on this parallel. Normally 4th strikes are good with the parallel only usually losing its power on the 5th. This means that Brent is a speccy buy here with stops under 62.10 for small 8 pip loss if wrong from here. And if we are, then that lower parallel gives way and we then switch on a sixpence to bear stance from bull, looking to sell off the underside of the parallel if touched again with stops above by 10 to 15 pips max.
FX:UKOILLong
by sumastardon