Great ascension for BCOUSDwait to see what is the next candle then You can buy BCO if it doesn't break the support line
Brentcrudeoil
UKOIL Brent Crude Oil Long-Term ForecastSo, here we go again with the brent crude oil forecast:
Scenario 1: Oil prices could reach highs of up to $83 a barrel, which represents a resistance level formed by the descending upper trendline.
Scenario 2: Oil prices could fall even lower to about $30 a barrel, which represents a 100% retracement of the previous wave. That level is also in the support zone formed by the previous lower lower.
My verdict: Price is going up to $80 a barrel
Brent is back to trendlineBrent is back to trendline and will find support around 65$ . I think in next months price will rise gradually to last resistance around 87$.
BRENT SELL (BRENT CRUDE OIL – US DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell.
OILOil retracement with fib level/structural confluence
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
BRENT CRUDE COULD SEE LOWER PRICES In this video update we talk about how Brent Crude Oil could continue moving lower if it can hold below the key support at and lows at 70.44. We have been trading short from the highs and looks like price will continue further despite the market looking overextended to the downside.
Brent Oil bounce off supportHello friends! If you agree with this idea, please give me a like and a follow so that I can continue posting quality content!
The Brent Oil price per barrel has bounced off the support line at $71.20. This has been a particularly strong line of influence this year - with the price touching it 4 times.
The red line is my Stop Loss. Good luck!
Use risk management to minimise your losses. Losses can exceed initial deposits.
don't be hurry to buy crudeoil now... buy at green trendlinemay be dealing with fifth wave expanding diagonal... so buy at lower green trend line
$71 last hope for Brent crude oil bulls as sanctions kick inThe introduction of US sanctions on Iran has been a "sell the fact" event. Brent crude has broken a long term rising trendline = bearish
Scenario A) price bounces to 74.30-75.10, which holds as resistance for another leg lower towards 71
Scenario B) price just drops from current levels to 71
BRENT CRUDE TO RETRACE FURTHER IN WEEKLY UPTRENDWe have already had some great shorts on Brent of the past few weeks and now we have just cleared out the support of $80.00 we can continue to look for the short positions.
We have to be aware that the weekly chart is still in an uptrend and until its breaks the weekly lows of $70.34 we should be cautious in holding long term short positions.
Looking at the chart we could see the BRENT CRUDE OIL market retracing down to the 38.2 fib and if so we could look for further short trades down to this point if the market on the
4hr timeframe can pullback into the key 4hr structure lows of $79.00.
BCOUSD, Brent Crude Oil: Forecast on H4- Triangle pattern on H4.BCOUSD, Brent Crude Oil: Forecast on H4- Triangle pattern on H4.
--> Waiting break and confirmation !
Expected downtrend from this point onwards!Rebounded off strong resistance and downtrend should begin.
TP1: 69.90
TP2: 65.75
SL: 73.20 or as per your analysis and risk assessment.
Good Luck and Trade Safe!
BRENT C. OIL SHORT H4/DAILYBrent crude oil
Double top resistance setup on daily followed by medium to long term uptrend break and currently retesting.
Sell towards retest of the support level below at TP1, chances of it reaching below $60 per barrel is unlikely but possible.
BRENT OIL is moving to key level CL_Brent weekly overview
Price is moving to key level $80.41. Also, it is 2 - months high. Near that level, I will wait for my price action signal. Such levels are keys because many traders hide their stops upper it and have set pending orders.
I have 2 scenarios which I will use:
1. I will look for short ONLY, If the price will make fake broke of $80.41 and H1 - H4 close under it. From that zone, rice can move down to $70 - $72.
2. If the price will break up $80.41 and H1-H4 will close upper it, that will be a signal that exchange rate will continue up move.
Brent Crude Oil Bounces Off SupportLast post: June 16th. See chart .
Review: Price had broken through key support but closed within a zonal area and just above the next pivot support.
Update: Price has bounced off support and closed back above the previous support suggesting further strength.
Conclusion: Looking for further momentum with the bulls and close above the round number 80 to place further long trades.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Brent Crude Oil Breaks Key SupportLast post: June 5th. See chart .
Review: Price was being propped up by a pivot support zone and the daily 50sma.
Update: Price has broken through support with an aggressive bearish bar on Friday.
Conclusion: Price is within a support zone that we want to see hold strong. Any further weakness and we will look to cut out of our long trade.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
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
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
