Brent: Wax your Skis ⛷️Brent accomplished the climb above the $86.06-mark and should continue to rise to finish the blue wave . Once completed, we see the course heading for a steep downwards slope to dip right into the green target zone between $77.13 and $42.20. Within the target zone, we expect the Oil to sink further to end the blue wave around the $62-mark, before rising back North to wrap up the blue wave . Followed by another correction, the course should dig deeper and get closer to the bottom of the green target zone, in order to finalize the green wave .
Brentcrudeoil
🛢Brent oil: wave III target remains $150+●● Preferred count
● CFDs on Brent Crude Oil (TVC) , 🕐TF: 1M
Fig.1
The three-wave movement within the framework of wave III of (V) is not completed. The minimum target is the same — to exceed the wavelength of wave II , which will lead to a rise in the price to $ 150+ . The subsequent wave IV will return the price to the current levels.
______________________________
● Brent Crude Oil (OANDA) , 🕐TF: 2D
Fig.2
From July 2022 , a correction Ⓧ is predicted.
Upon completion of the consolidation in wave (B) , a decline will follow within wave (C) in the form of an impulse. This forecast is based on the norm of the alternation of waves " A " and " C " within a zigzag.
______________________________
● Brent Crude Oil (OANDA) , 🕐TF: 4h
Fig.3
Correction (B) is expected to take the form of a triangle, but other sideways correction are not excluded. The option of counting in the form of a triangle is schematically indicated by a red dotted line. Black color marks an alternative count with a completed wave (B) in the form of a running flat. With the breakdown of the top of wave B , the activation of the alternative marking will follow.
📚 Elliott Wave Guide & Ellott Wave Archive ⬇️⬇️
Brent Crude Oil: Potential for a further corrective move higherCurrent price remains below its 40 week moving average (200 days) which indicates that the longer term trend is lower (100 days or more), however, the scope for a further near term (25 to 50) corrective upside rally from the November high - December low remains on the table, provided the key resistance near $85.05 can be overcome for prospective extension move towards the $91.66 (50% retracement from the 52 week high/low); downside risk seen near the $78.3 support.
BRENT CRUDE OIL BULISH PATTERNDemand for crude oil is expected to rise after a cold wave hit USA, which will likely increase the demand for oil distillates, easing of the COVID measures in China and US crude oil inventories coming up less than the analysts have had expected.
British crude oil benchmark, BRENT, had broken the resistance of the triangle pattern, a strong bullish predictor, and the price might reach levels of 87.5 in the next couple of days. In an event of reversal of the trend, the price might reach levels of its previous low of 75.35
RSI and MACD both are confirming the bullish outlook, with MACD histogram above 0 and rising and RSI rising as well and approaching the 50 neutral line.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Brent: Christmas Miracle ✅🎄We're finally seeing green! After waiting the whole year for Brent to reach the green target zone between $77.10 and $42.16, our British friend finally came through! We're expecting the course to sink a bit further to finish off green wave before heading back North above the $80.79-mark.
cadjpy, longAs you can see in the chart, due to the weakness in the decline and the reaction to the support level, I expect an upward correction first, and then I will update the analysis if there is a reaction to the resistance level.
Stay with me to get more analysis after following me by sharing with friends and leaving a comment.
According to my risk and capital management system, the risk of each trade is one percent per position.
What do you think about this analysis and other analyses?
What symbol would you like me to analyze for you?
USOILBeen charting this move since mid July 2022, we are getting close to a bottom IMO, currently
testing the bottom TL of the mega phone pattern.
Now looks like a support flipped into resistance.
Targets remain $45-$55 for a bottom and likely big bounce from there. Which is the 618% from the covid 2020 crash when prices went negative.
Brent Crude Oil Simple Chart AnalysisBrent Crude Oil - Seem supported if we draw a 2 red arrow there. If this area indeed supported & rebound, we will see our KLSE energy moved. Might retest 100 as resistance here.
Risk side, it might just be a technical rebound here cause there are no red chip aggressively appearing.
Brent tanking soonBrent is in a predominant falling wedge channel.
As I have mentioned this week, channels are always stronger than breakout patterns.
So we need the price to break below or above a certain level, before the price stops meandering...
The first target is to the top of the channel at $97 then down to $88 (channel).
If the price breaks below the channel then we could see a target of $67.65
I am bearish with Brent STILL.
Macro and TA is making Oil look ripe for an upward moveMacroeconomic trends with a rough heating season for Europe, the continued war in Ukraine, the internal troubles in Iran, and the most recent OPEC+ meeting makes the macro position for Oil look bullish.
Looking at the charts it looks likely that oil will challenge the downward trend that has persisted recent months and coming two days let us know if it'll begin a bullish upwards trend.
USOILThis is my primary count on USOIL. Seems likely that we test $66-$70 for the intermediate wave 4 & confirm the higher low & also support on the monthly ema's 50,100,200 before the final pump to $300 plus.
So currently looks like we are in the 4th of the 3rd about to start the 5th of the 3rd and then correct into the HTF 4th wave before starting the last push to the 5th into 2027.
Brent: Hang on! 🐻Bulls and bears are competing for preeminence, and both of them have gained the upper hand now and then. In the long run, we expect the bears to win this battle, though, and to drag Brent to the green zone between $77.10 and $42.16, where it should finish wave III in pink. After a short countermovement to complete wave IV in pink, Brent should enter the blue zone between $66.48 and $59.58, which is enclosed in the green zone and where wave V in pink and wave 3 in blue should end. Another countermovement should then lead Brent upwards again before it should dive into the green zone once more to finally conclude the overarching downwards movement. However, there is a 32% chance that the bulls could be stronger and drag Brent above the resistance at $95.76, which would then result in a detour until the next mart at $105.42 before the bears can take charge again.
Brent Crude ⛽️Oil⛽️ Analyze!!!Brent Crude ⛽️ Oil ⛽️ has passed the main wave W by Zigzag structure (5-3-5). Oil could finish Expanding Flat (3-3-5) or Main wave X at 138.03$ . Of course, the War can change my Scenario, but I don't expect Oil to break 177$ .
I expect the Brent Crude Oil to go DOWN at least to the upper line of Descending Channe & Support Zone .
Brent Crude Oil Analyze ( USDBRO ) Timeframe Monthly (Log Scale)
🔴 Resistance Zones 🔴 & 🟢 Support Zone 🟢 that we have in front of Brent Crude ⛽️Oil⛽️ .
🔴 Resistance Zone 🔴: 147$ until 135$
🔴 Resistance Zone 🔴: 178$ until 159$
🟢 Support Zone 🟢: 88.6$ until 83.3$
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OIl on up On the weekly chart, there is ether a strong Falling Wedge in the making.
If the price breaks up and out of the Falling Wedge, we can expect the price to move up to $155.000
If Brent Crude forms an M formation (Double top), it's possible for Brent Crude to be bearish and on the way down. But we need the double top to form first.
What are your thoughts...