Brent Crude Oil. Full technical and Wave analysis
There are a lot of intraday signals for good setup. But consider the situation at the moment. One of them is now presented on the chart and is ready for implementation
Brentcrudeoil
Keep an eye out on BCOUSD breakoutOil has been contracting like crazy in the past weeks and the breakout will be nothing short of violent so keep it on your watch list.
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.
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.
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.
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.
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.
US Oil - Holding Of Support Hints Further AdvancesAfter failing to hold above 58.79 price came back to test and hold support at 56.83. Longs seen as the higher probability move with a break of 59.79 clearing the way for 61.74.
US Oil - Bulls In ControlLast week Oil performed well breaking above the target and key resistance area of 58.79. This week we would like to see consolidation above this broken resistance now support, with a view for further advances towards 61.74.
US Oil - Long Opportunities On Resistance BreakLast week Oil failed to hold at the key support of 56.83 before bouncing at the 55.03 area finishing the week with a rally back towards the 56.83 level. Next week we will look for a continuation of the overall uptrend with a break of key (now) resistance at 56.83 to clear the way for longs towards the target, and next key area of resistance, at 58.79.
US Oil - Sideways Correction Hints Further AdvancesLast week price traded into and through our target and key resistance at 56.86 and is currently holding as support. As long as support holds we are looking for longs up towards the next key area of resistance at 58.79.
US Oil - Uptrend IntactOil continues its Bull trend with a correction towards the upward sloping trend line providing a great place to look for Bullish patterns for longs up towards the targets of 56.86 and 58.79 respectively.
US Oil - Bull FlagWe start the week with US Oil above broken resistance at 52.73 with the pole of a potential Bull flag forming. A correction (the flag) back towards the 52.73 area of resistance turning support will provide a great place to look for Bullish formations and patterns for longs up towards the next key areas of resistance and targets to the upside at 54.48 and 55.23 respectively.
US Oil - Counter Trend Line BreakLast week US Oil broke above the counter trend line and starts next week above the key area of support at 51.52 as well. Any correction will provide a great opportunity to look for Bullish formations and patterns, looking towards a target of 52.73.
UKOIL BRENT CRUDE OIL BULLISH BATUKOIL complete harmonic bat pattern @55.48
it's an opportunity to be long and get some money $$
The first target is the past high @56.13 the second target @56.61 it's meet 0.618 Fibonacci.
We are in safe as long we above the trendline
We don't expect to see extreme and fast move - Bollinger band said- but it will move
Brent Crude Oil inverse head & shoulders - long-term TP ~$78-88BCO/USD is showing a potential inverse head & shoulders on the monthly chart. long term target prices are labeled in the chart. first tp is a probable support level, second tp is based on pattern projection.
this is based on pure TA, so as always, it could be wrong.
trade at your own risk.
Bullish BRENT CRUDE for 8/218/18's candle closed above the 3 SMMA after closing below on 8/17. Therefore, I am expecting 8/21's candle to close above the 3 SMMA .
I will be looking for buy signals on the hour time frame that look similar the buy signal on the daily that you see here (candle close below 3 SMMA , then candle close above 3 SMMA ).
This is a day trading technique and I will not hold any position over night.
My plan is to place 2 trades once I get a buy signal on the hour time frame. One trade will have a 20 pip stop and a 20 pip take profit target. The second trade will have a 20 pip stop and no take profit target. The second trade is designed to grab any strong bullish movement for the day. Each trade is worth 1% of my beginning daily account value.
Oil trying to be optimisticFormed an inverse H&S at the 4-Hour chart. Possibly have already 'retested' it.
Bullish BAT forming on Brent Oil daily chartA bullish bat harmonic pattern is forming on Brent Oil / USD on the daily chart.
1.27 AB = CD converges with XA 0.886 !!!
