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Brentlong

UKOIL Brent Crude TECHNICAL OVERVIEW Recently, there has been a lot of news about the fact that oil futures have recently doubled after the last fall, that JP Morgan has earned a couple of billions, and so on and so forth. It is a rumor that oil will fall again to $ 20 per barrel, I honestly do not really believe in this scenario, since oil is not only a trading product but has a certain influence factor from different countries, so most of the OPEC and OPEC + participants will try to speculate prices and other traders will help them in this. Now I am exiting LONGS for oil because traders are trying to close the GAP, so we have a certain level where we can observe further price developments. If we discard the speculative market and look from a technical point of view, we have two variations. 1. In which I very much believe this is breaking through the support level, a small correction, and going up to the golden ratio. 2. This is the exit from the channel and the fall, where we will wait for the bear rally to expire. and buy it again. I would like to note that this analysis carries with it the subjective opinion of the author and does not force trading and is not a signal for buying or selling instruments. Take care of yourself, like, and subscribe to my channel, leave comments, and write your own about the current situation.
TVC:UKOIL
by TradingExpertGroup
BRENT OIL ($UKOIL): Demand For Oil is Back, But is the Uptrend?BRENT OIL ($UKOIL): Demand For Oil is Back, But is the Uptrend? ✨ New charts every day ✨ Like, Comment & Follow to help the community grow 🎉🎉 --- Brent Oil (UKOIL, USDBRO, OIL_BRENT, BCOUSD) prices are seeing momentum again with Brent Crude forming an uptrend after an ugly start to 2020. Will we continue to see strength for oil, or will the lingering excess of supply work to suppress or even push down price? The chart suggests we have more upside, so let's map out a plan for what we do as oil prices rise. Resource: www.aljazeera.com --- 1. Fractal Trend just started showing an uptrend (Aqua bar color) on the 1 hour timeframe for the first time since early 2020. 2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua) and/or bullish S/R levels plotted by Directional Bias (Aqua). 3. Right now we are looking for an entry off of S1 S/R + order block cluster to ride this potential uptrend to our R1 take profit target below the gap at the range formed by prior swing highs, and our R2 exit target above the gap which would then form a gap fill. 4. The only three full position closure conditions here are if we hit both take profit levels, Fractal Trend signals a downtrend (Maroon bar color) and/or the stop loss is hit. 5. If Fractal Trend signals a downtrend, we will then be looking for short setups instead. So keep in mind that although we currently have a fresh bullish bias on oil, that could change quickly depending on what happens with the oil economy and with oil prices. Good luck family!
TVC:UKOIL
by AlphaBotSystem
Brent oil (BCOUSD) longI see no reason to short oil. The decision area for me is about $ 23 per barrel, I focus on my broker quotes. I believe that a recession awaits the economy, but we are now closer to the moment of exit from the lockdown and the probability of an increase in oil demand is higher. Asian countries are beginning to come into normal operation, and for them, buying oil at current stock prices is a very interesting idea. Companies engaged in shale oil production are probably close to bankruptcy or a temporary halt in oil production. In May, the first reductions according to the agreement between OPEC and the Saudi Arabia and Russia. I don’t see an opportunity for short. Therefore, I am considering shopping. Be careful, brokers have very high oil swaps now, so it is better to trade futures but only with stop loss without transfer over the weekend! Be careful with this tool!
OANDA:BCOUSDLong
by THG_trader
🛢 BRENT OIL - Entered zone of verbal INTERVENTIONS USA&SAUIn this zone, I expect a BUNCH of bullish info-occasions into the oil market and bullish forecasts of energy organizations and OPEC. Thumb UP👍 if you agree with me! Although the United States and Saudi Arabia are already competitors in the oil market, they are in the same team in this zone and will do everything possible to prevent a strong collapse in oil prices. And if this happens, then such a failure should not be long in any case... There are 3 very important reasons for this: 1) the Saudis' budget is burning. 2) the US problem is even more serious - almost the entire oil industry is sitting on a wild leverage before banks (very large debts to banks - just a cosmic exposure)! Low oil prices = defaults from shale producers = defaults from US banks = disaster. 3) the impact of coronavirus on energy quotes can be called short-term, since factories in China are already returning to work. Technical Indicator 12H: 1) Awesome Oscillator - turned to green zone and started rise up. 2) Stochastic RSI - started to rise up from the undervalued zone. Summary: Buy on pullback around 55.15 and sell in 67 zone. Its more than 20% profit. Stop-loss could be around 53.37
TVC:UKOILLong
by Fandorinn
3
USDBRO approaching support, potential for a bounce! USDBRO is expected to drop to 1st support at 60.28 where it could potentially react off and up to 1st resistance at 63.90. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone
USDBRO bounced from support, potential for a further rise! USDBRO bounced off 62.04 where it could potentially rise further to 64.30. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone
USDBRO reversed from resistance, potential drop! USDBRO reversed off its resistance at 65.62 where it could potentially drop further to 62.82. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROShort
by Pepperstone
USDBRO reversed from resistance, potential drop! USDBRO reversed off its resistance at 65.62 where it could potentially drop further to 62.82. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROShort
by Pepperstone