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Brentcrudeoil

Brent Crude Oil futures bearish forecastBrent Crude Oil futures bearish forecast with new supply levels imbalances being created. Brent crude oil is correcting strongly after such a strong bullish move in the past months. Bullish impulses have become corrections and now there are a few daily supply levels created on the way down after such a strong rally. Three supply imbalances have been created on Brent Crude Oil Futures around $74, $72 and $69. Price has not retraced to them but it did retrace at lower timeframe supply levels on the H4 timeframe.
RUS:BR1!Short
by AlfonsoMoreno
UKOIL READY TO PLUMMET!Hi traders! Today, UKOIL has seen a move to the upside from 70.88 to 71.75. 1 of the following 2 scenarios could occur: - Scenario 1: (ideal scenario) As price has re-entered the daily and hourly resistance region highlighted in a pink/purple box at the top. Price has previously rejected from this resistance zone and on the 1H, there appears to be a double top candlestick pattern, giving way for some bearish price action. On the 14 day RSI, it seems to be oversold on both the 1H & 1D time frames. Additionally, looking back to November, this same resistance region acted as a support region for this pair, before snapping and paving the way for a huge sell-off. This gives space for a move to the downside. This would mean price could head down, ideally to the 61.8% of the Fibonacci Retracement tool, around 71.14 and then it could drop below. I would look for price to first move to the downside before considering any real targets, once 71.14 is taken out. We could really see price hit the red trend line drawn, as it has been some time since it last melted down and bounced off that line. - Scenario 2: If the resistance region highlighted is broken, price could easily spike to the upside, towards 71.80 and beyond. I would recommend a tight stop loss just above the resistance zone highlighted at the top. If price breaks the resistance level it has previously rejected from, this pair does have space to just rocket up. If you read it to all the way down here, thanks for showing some support to this article! Tell me where you think UKOIL will be heading next! Comment below all your ideas about the future of the UKOIL! Buy or Sell and why? Additionally, drop me your charts/ideas for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX, Stocks & Crypto market, and I'd appreciate any help people may offer! Please drop a follow/like! I need reputation points!
FX:UKOILShort
by TheFinancialTRDR
Either Stocks Crash, or Oil RalliesWe are basically exactly where we were at in October 2018. About the same things for US equities. But why the divergence with US equities outperforming oil? Look what happened last time stocks become too zealous in January 2018. Correction downward to a near parity in percentage gains. Either stocks are going to readjust or oil is just going to go crazy in the next few weeks. My question is, where is the conviction, where is the demand (weak EU, weak China, weak EMs) and what are the fundamentals driving markets forward? I'm really opened, but color me skeptical.
TVC:USOIL
by WhiskeyTangoFoxtrot3
Crude Oil 63?Decembers ascending trendline from the end of 2018 as you can see price has closed below it, I can see consolidation within the 4hr range and support. (green) With price below this trend, along with the strong 65 area, the bottom of our macro range previously a support, now becoming resistance, i can't see this rallying further. I feel there is too much compression of resistance above the price. Ending the last 4hr bar with a hammer/pin is a decent sign also of confirmation 15minute has retest the trendline previously mentioned and already rejected off during the last few hours of trading last week.
OANDA:BCOUSD
by MANNI0812