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Brentcrudeoil

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
TVC:UKOILLong
by 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
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
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
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 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
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 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