CRUDE OIL video top-down AnalysisHello everyone, here is the top-down analysis for CRUDE OIL, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
Brentoil
UKOIL BRENT Nose-dive to $32 and beyond?After the 2h 50 EMA crossed below the 200 EMA first time since May 05, 2020,
the 3h 50 EMA crossed below the 200 EMA on Sep 04, first time since May 07, 2020.
What exactly can stop oil from going diving back to low $30's ? More cuts from OPEC?
Winter coming to the Northern Hemisphere? Miracle vaccine ?
Doubt it. Let's see...
Brent Oil Rejection Could Rally Price Above 56Brent Oil witnessed rejection of the downward trend with the last 2 week candlestick. This rejection potentially could cause brent to rally above 47 and subsequently, above 56 if a re-test of 47 level (after breakout) is held successfully.
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
wti crude oilthis thing is going long ... I would jump in if my account was large 10.00 lot size .. 100,000 in 2 days
COVID retracement comingLook at Oil chart. 20 days ago I've noticed bulls weakness and now we witness full retracement week. First visible bounce happened yesterday, but it may easily continue lower to 38.77 / 37.84. Stocks are joining the bearish show. Looks like COVID is coming back. France is went up to 4th place in the world in active cases. India took the second. While fairytales about vaccine are multiplying, no one really knows what to expect during Autumn months, when flues are most active.
I think we may expect a bounce to 43-44 within nearest days/weeks. Will use it to exit as much stocks as I can. Maybe open shorts.
Week chart doesn't bring anything bullish.
Crude Oil Elliott Wave IdeaHi,
Theory based on already complete 5 wave down (in wave A of ABC), potentially in wave B now with wave C to follow to new lows.
CRUDE OIL Short to Target $20.00 by Christmas 2020.BRENT OIL 1 Week Chart, with Ichimoku Cloud.
So we all know from May this year that about $20.00 is the limit where OPEC & Russia will start holding hands and interfere with the oil price.
And you think about the below reasons, and look at the Weekly chart....
Reasons:
1. COVID - Economies around the world are NOT recovering to previous levels, LESS consumption by Industry.
2. COVID - More companies are adjusting to remote work, LESS driving, LESS gas consumption bu cars.
3. CHINA - China bought all the cheap available oil, latest prediction is that it would take 45 days just to use that stored oil
4. TANKERS - More tankers are available after they transported oil, More oil to go to floating tankers for storage
5. SAUDI ARABIA - Just had to lower its oil sale prices,
6. RUSSIA - Still eyeing a clash with Saudis
7. OPEC - Turns out UAE produced over its quotas, Iraq wants to be out of the limitations.
8. US SHALE - Some still have to produce, adding to the glut
9. AIRLINE INDUSTRY - Jet fuel consumption have never been this low, and doesn't seem it will be able to recover anytime soon.
Conclusion:
A SHORT position today ($41.35) with a STOP LOSS of $44.50, TARGET of $20.00...
And all in 15 Weeks before Christmas...
If the price breaks above $44.50, before Christmas, the trade is null.
*NOT an investment advice!*
BRENT- 4h 50 EMA just crossed 200 EMA for the first time in 4 MoLet's see what we have:
50 EMA crossed below the 200 EMA
2h Chart: Sep 04, first time since May 05
3h Chart: Sep 07, first time since May 07
4h Chart: Sep 07, first time since May 18
1D Chart? 50 EMA was always below 200 EMA since January
In the 4h Chart 50 EMA crossed 200 EMA in the last hour of trading.
First time in 4 Months. If there are no unexpected news, the direction seem to be south.
Take it with a grain of salt, this market is highly risky, can go +$3 then -$3 in a few hours...
Short preparation in case of a bearish scenario on USOIL Take this as a preparation in case of a scenario like this. IF this happens, we will be ready to trade in the following way.
Main items we can see on the chart:
a) The price is against a significant resistance zone (check the weekly chart)
b) On the mentioned resistance zone, we had a compression that now is broken
c) Based on the past behavior of the bearish trend, we can see clear corrective structures that worked really good on providing entry levels for short selling
d) We will be waiting for structures with similar proportions as the ones you can see on circles
e) IF that happens, we will trade towards the next support zone at 20.00
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
. While the price is below the resistance 46.50, beginning of downtrend is expected.
. We make sure when the support at 40.00 breaks.
. If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
. There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08 and the peak at 46.525 on 2020-08-26, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
. The RSI support #1 at 55 is broken, so the probability of beginning of downtrend is increased.
. A peak is formed in daily chart at 46.50 on 08/25/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. Relative strength index (RSI) is 35.
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Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
. While the price is below the resistance 46.50, beginning of downtrend is expected.
. We make sure when the support at 40.00 breaks.
. If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
. There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08 and the peak at 46.525 on 2020-08-26, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
. The RSI support #1 at 55 is broken, so the probability of beginning of downtrend is increased.
. A peak is formed in daily chart at 46.50 on 08/25/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. Relative strength index (RSI) is 35.
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. . . . . 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 do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Are we heading for a nose-dive to $32 in UKOIL?Last time the 2h 50 EMA was under 200 EMA was on 05 May 2020.
Now we are heading to another cross-over.
!!BUT in the 4h and 1D charts 50 EMA is comfortably over 200 EMA!!
But this is interesting. if it crosses over for the first time in 4 months,
we might have a good old waterfall...
As always, do the research, I might be very, very wrong...
Brent Crude about to break outAfter weeks of consolidation, we might wait for are break out above 46.30$ in order to do a quick long trade
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
While the price is below the resistance 46.30, beginning of downtrend is expected.
We make sure when the support at 36.95 breaks.
If the resistance at 46.30 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08 and the peak at 46.32 on 2020-08-05, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
While the RSI support #1 at 55 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 46.30 on 08/04/2020, so more losses to support(s) 41.70, 40.00 and minimum to Major Support (36.95) 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 54.
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. . . . . Please show your support back,
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💎 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 do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
While the price is below the resistance 46.30, beginning of downtrend is expected.
We make sure when the support at 36.95 breaks.
If the resistance at 46.30 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08 and the peak at 46.32 on 2020-08-05, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
While the RSI support #1 at 55 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 46.30 on 08/04/2020, so more losses to support(s) 41.70, 40.00 and minimum to Major Support (36.95) 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 54.
❤️ 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 do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
CRUDE OIL - UPSIDE SWING IN COMING DAYS,....KEEP EYE ON ITRUDE OIL - UPSIDE SWING IN COMING DAYS,....KEEP EYE ON IT
A SLIPPERY SLOPE FOR USOIL FUTURESAS YOU CAN SEE, I DON'T USE ANY ON CHART INDICATORS SO I'LL KEEP THIS SHORT AND SWEET.
FK ALL THE USELESS TECHNICALITIES ABOUT EMAs, ETC.
USOIL LOOKS TO SLIDE DOWN TOWARD $36.10 AS CONTINUED EFFORTS TO RAISE PRICE HAS FAILED.
FALLING UNDER GROWING PRESSURE AND MOMENTUM, WE COULD VERY WELL SEE PRICE CONTINUE TO SLOWLY DESCEND OVER THE COMING WEEKS. RECENTLY RECOVERING FROM -VALUE LAST SEASON, WHO'S KNOWS WHERE THE TRUE BOTTOM IS FOR USOIL?
NO TP DEFINED RIGHT NOW.
THIS IS A HELL OF A SHORT POSITION HOWEVER, DO YOUR OWN DILIGENCE.
