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Brentcrudeoil

Brent Crude has peakedBrent Crude looks like it needs a retracement after its stellar recovery. On the weekly chart we can see that its overbought on all three signals. Oil producers need the price to stay above roughly $40 a barrel. In a controlled environment with limited exogenous impacts the price of oil should stay above $40 a barrel. That being said, $70 a barrel isn't going to work for the non-US consumer. By early April we should see the chart reflecting a healthy retracement. Oil producers have benefited from the recovery in the oil price and the increase in demand post lock downs. Perhaps now is the time to take profits or close out one's position in the oil industry. Please note, this idea is shared for educational and discussion purposes only and should not result in speculative investment decisions in any asset class.
FX_IDC:USDBROShort
by JesseMorgans
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 64.83 on 02/18/2021, so more losses to support(s) 58.65 and minimum to Major Support (54.40) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 66. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity_World
34
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 64.83 on 02/18/2021, so more losses to support(s) 58.65 and minimum to Major Support (54.40) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 66. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity
1
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 54.40 on 02/01/2021, so more gains to resistance(s) 62.30, 66.05, 70.35 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 73. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity_World
28
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 54.40 on 02/01/2021, so more gains to resistance(s) 62.30, 66.05, 70.35 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 73. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity
6
Brent - BullRunPotential correction at fibb 61.8% After correction price can still follow the trend Trend: UP Ichimoku: UP Stoch: After overbought for more: www.invesery.com Last news: vesting.com -- Crude oil prices weakened Thursday amid concerns about fuel demand as the pandemic continues after U.S. inventories posted an unexpected rise last week. By 9:45 AM ET (1445 GMT), U.S. Crude futures were down 0.6% at $52.97 a barrel, while Brent futures were down 0.5% at $55.79 a barrel. U.S. Gasoline RBOB Futures were down 0.8% at $1.5315 a gallon. Data released late Wednesdy by the industry group, the American Petroleum Institute showed that {{8849|U.S. crcrude oil inventories rose 2.6 million barrels in the week to Jan. 15, against expectations for a 300,000-barrel draw in forecasts prepared by Investing.com. The U.S. Energy Information Administration is due to release its official weekly inventory report on Friday, later than usual due to Monday’s holiday. If these numbers show a similar crude oil build, it would be the first since early December. Weighing on the market is the fear that the surge of Covid-19 cases is having a direct impact on the demand for crude oil, not only in the U.S. but also around the globe. Earlier this week the International Energy Agency, a Paris-based autonomous intergovernmental organization, revised lower its global demand estimates for the year by 300,000 barrels a day as a result of a fresh wave of lockdowns, particularly in China, the largest importer of crude in the world. “The most recent has been in Beijing, specifically the Daxing district, which has affected around 1.6m people,” said analysts at ING, in a research note. “The government will be keen to get any outbreaks under control, particularly with the Chinese New Year fast approaching.” On the supply side, newly inaugurated President Joe Biden has announced his decision to cancel the Keystone XL pipeline project, which would have carried more than 800,000 barrels a day of crude from Alberta’s oil sands in Canada as far south as the U.S. Gulf Coast. Additionally, ING noted that Shell (LON:RDSa) has lifted force majeure on exports of Forcados crude from Nigeria, a measure which had been in place since Jan. 14, after the pipeline to the Forcados oil terminal was shut due to a leak.
OLong
by Lafoks
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 52.45 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 57.25 on 01/13/2021, so more losses minimum to Major Support (52.45) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 61. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity_World
13
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 52.45 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 57.25 on 01/13/2021, so more losses minimum to Major Support (52.45) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 61. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity
10
USDBROUSA Brent Crude Oil has lost its 55$ channel and falls into 54~55 but the bearish power last week was so strong that I don't think that the chart may go back in its previous channel for now so as the market open as the money flows in the chart goes a lil bit higher but it counts as a pullback and then more corrections so be ware with your assets if you are a trader and not a holder its all price and fib retracements and 2 classic indicators (must be enough) for such a clear chart
FX_IDC:USDBROShort
by the-crypto-analyzer
1
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 52.45 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 50.55 on 12/23/2020, so more gains to resistance(s) 58.65, 62.30, 66.05 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 76. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity_World
12
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 52.45 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 50.55 on 12/23/2020, so more gains to resistance(s) 58.65, 62.30, 66.05 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 76. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity
14
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 52.38 on 12/18/2020, so more losses to support(s) 48.95 and minimum to Major Support (46.50) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 64. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity
16
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 52.38 on 12/18/2020, so more losses to support(s) 48.95 and minimum to Major Support (46.50) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 64. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity
14
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 54.40, 58.65, 62.30 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 68. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity
16