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Brentoil

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. ❤️ 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 ❤️
FX_IDC:USDBROShort
by ForecastCity
9
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 ❤️
FX_IDC:USDBROShort
by ForecastCity
14
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 ❤️
FX_IDC:USDBROShort
by ForecastCity
13
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.
TVC:USOILShort
by UnknownUnicorn5320750
7
Brent Crude Oil Important technical analysis updateMidterm forecast: . While the price is below the resistance 45.00, beginning of downtrend is expected. . We make sure when the support at 36.95 breaks. . If the resistance at 45.00 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 45 on 2020-07-21, 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 45.00 on 07/21/2020, 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 56. ❤️ 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 ❤️
FX_IDC:USDBROLong
by ForecastCity
14
Brent Crude Oil Important technical analysis updateMidterm forecast: . While the price is below the resistance 45.00, beginning of downtrend is expected. . We make sure when the support at 36.95 breaks. . If the resistance at 45.00 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 45 on 2020-07-21, 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 45.00 on 07/21/2020, 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 56. ❤️ 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 ❤️
FX_IDC:USDBRO
by ForecastCity
14
Crude Oil Elliott Wave IdeaAs posted by a fellow EW technician Aibek a little while ago on Brent, WTI looks to be forming an ending diagonal. The lower trendline has been hit and there is bullish divergence on 4H timeframe (the same divergence that kick started the move from $39 to mid $42) so the 5th and final wave could have already started. The 0.618 extension of wave 2/3 is at $43,07 and the 0.618 extension of wave 1/3 is at $43,97. If it is an ending diagonal there could be a considerable fall once it completes.
TVC:USOIL
by Joseph_King
1
United States OilFUNDAMENTALS: Ever since the reverse stock split back in April of this year, this chart has become problematic in future price discovery. I have no skin in this, but I want to take on the oil markets as a challenge to myself to focus in on the global markets, and how political shenanigans play a factor in the price of oil. Just keep in mind what drove the prices of oil down this year, and think about the coming presidential election. That will be your unknown variable to the fundamentals in the price. TECHNICAL ANALYSIS: I have chosen the daily time frame for this chart since it has done the reverse stock split that has complicated the price ranges. I have found that the price is possibly forming an ASCENDING TRIANGLE or a PENNANT. This pattern I have outlined in white lines. There WILL be a breakout of this pattern in the coming days or weeks. A break below will happen based on the fundamentals of the global economic, and the fear virus. A break above this pattern will allow the price push higher and retest the orange lines. Remember, I am not your financial advisor, and I am not legally qualified to give advice or tell you what to do with your money. Do your own research.
AMEX:USO
by MrMoneyMatrix
2
Brent Crude Oil - Trends of Support & ResistanceHere I have laid out historical trend lines that prove previous support, and resistance prices. Using technical analysis to predict the future price of Brent Crude Oil is only one variable to the equation. I believe that the most important factor for future price discovery will be the global fundamentals. The United states of America is coming up on a presidential election. This is very important for future production. I have mapped out the price levels I expect to see resistance, and support. The orange horizontal lines are the areas I would take profits. Brent Crude is currently testing resistance between the price of 45-47 dollar range. Day traders and swingers (Lol) may be setting up for shorts going into the weekend. Long term, based on previous trends I would expect a push back up to the upper 86.00 dollar region. This is not financial advice, and I am legally able to tell you what to do with your money. these markets are extremely volatile during the election years, and the rise of the fear factor pandemic. Trade safe, and use stop losses, and do your own research into the fundamental factor that will impact this asset. "Ju$t Follow The Money Matrix."
FX_IDC:USDBRO
by MrMoneyMatrix