Resistance & Support levels for #Brent_OilIf the Brent Oil breaks the region of 60-62 (an authentic support region)... it can visit the region of 49-52.
Brentoilanalysis
UKOIL READY TO PLUMMET!Hi traders!
Today, UKOIL has seen a move to the upside from 70.88 to 71.75.
1 of the following 2 scenarios could occur:
- Scenario 1: (ideal scenario)
As price has re-entered the daily and hourly resistance region highlighted in a pink/purple box at the top. Price has previously rejected from this resistance zone and on the 1H, there appears to be a double top candlestick pattern, giving way for some bearish price action. On the 14 day RSI, it seems to be oversold on both the 1H & 1D time frames. Additionally, looking back to November, this same resistance region acted as a support region for this pair, before snapping and paving the way for a huge sell-off. This gives space for a move to the downside. This would mean price could head down, ideally to the 61.8% of the Fibonacci Retracement tool, around 71.14 and then it could drop below. I would look for price to first move to the downside before considering any real targets, once 71.14 is taken out. We could really see price hit the red trend line drawn, as it has been some time since it last melted down and bounced off that line.
- Scenario 2:
If the resistance region highlighted is broken, price could easily spike to the upside, towards 71.80 and beyond. I would recommend a tight stop loss just above the resistance zone highlighted at the top. If price breaks the resistance level it has previously rejected from, this pair does have space to just rocket up.
If you read it to all the way down here, thanks for showing some support to this article! Tell me where you think UKOIL will be heading next! Comment below all your ideas about the future of the UKOIL! Buy or Sell and why? Additionally, drop me your charts/ideas for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX, Stocks & Crypto market, and I'd appreciate any help people may offer!
Please drop a follow/like! I need reputation points!
brent oilwrong past decisions including lack of supply and trade agreements on a line walk i would consider this setup to apply based on market conditions with bad politics to fuel brent more towards an uptrend. global demand will always rise but supply has lowered because the cost of production grows as its harder to get the deeper they try to get it from. this is not financial advice just a mad mans imagination.
Either Stocks Crash, or Oil RalliesWe are basically exactly where we were at in October 2018. About the same things for US equities. But why the divergence with US equities outperforming oil? Look what happened last time stocks become too zealous in January 2018. Correction downward to a near parity in percentage gains. Either stocks are going to readjust or oil is just going to go crazy in the next few weeks. My question is, where is the conviction, where is the demand (weak EU, weak China, weak EMs) and what are the fundamentals driving markets forward? I'm really opened, but color me skeptical.
UKOIL - BRENT - 500 PIPS Long OpportunityThis will be lovely when it develops, get onto it anyway you can, watch for price action...
Brent Crude Oil - Shorting opportunityBrent Crude Oil does not seem to have the support it needs to make the push higher up from the 4H chart. MACD 8H is making lower lows as well.
As long as the 4H 50 EMA holds strong as resistance, the move further down is active.
First TP is at Fib Extension 1 which is 64. If prices still aren't able to find support at that price, then sell further till 1.618 (62)
Brent Pullback has happened, now it's time to riseAbove 65.05 Brent oil is very strong and might continues to move upwards.
Blue channel is still valid so don't be afraid of pullbacks.
BRENT.CMD/USD 4H Chart: Weekly overviewThe Brent crude oil prices have depreciated about 4.93% against the US Dollar during the last week. The pair breached the lower boundary of an ascending channel pattern at 64.63 on Tuesday.
The BRENT.CMD/USD pair is currently trading near a resistance cluster formed by the weekly S1 and the 50-hour simple moving average at 66.58.
If the commodity passes the cluster as mentioned earlier, buyers could push the pair towards the weekly R1 at 67.94.
Although, if the resistance line holds, a southern breakout is likely to occur during the following trading sessions.
Crude Oil 63?Decembers ascending trendline from the end of 2018 as you can see price has closed below it, I can see consolidation within the 4hr range and support. (green)
With price below this trend, along with the strong 65 area, the bottom of our macro range previously a support, now becoming resistance, i can't see this rallying further.
I feel there is too much compression of resistance above the price.
Ending the last 4hr bar with a hammer/pin is a decent sign also of confirmation
15minute has retest the trendline previously mentioned and already rejected off during the last few hours of trading last week.
Will this Doji put an end to the #oil rally?We decided to analyze the daily graph of oil as we found an interesting technical model called-Doji, What Does a Doji Tell You? analysts interpret this as a sign of reversal. So our recommendation is Sell position
We also added the Fibonacci Retracement to know where we were going
Sell Brent (oil)
Entry Price: 66.30
Stop loss: 67.30
Take Profit: 65
Brent Crude Oil Futures monthly demand, buy BrentBrent Crude Oil Futures has a monthly demand level located around $5038 that gained control a couple of months ago. The fact that we have had that monthly imbalance in control allowed us to make too decisions. 1) No shorts would are allowed trading against a big timeframe demand imbalance that has gained control. 2) Only longs would be allowed.
Brent Crude Oil has been rallying for a few weeks now creating a new weekly demand level around $53.91 and potentially creating a new one slightly higher around $62.00 a barrel. There is a clear long bias providing buy opportunities on Brent Crude Oil Futures, a lot margin for profit on the way up to monthly supply zone around $77.00 a barrel
We do not take into consideration any fundamental analysis to trade futures, no earnings announcements or volume, we do not need any of that to make a trading decision based on supply and demand imbalances. We just need to know where those imbalances are located and what is the bigger picture trend on the stock.
Still if you pay attention to news, in the beginning of February Oil prices have fallen after disappointing US factory data sparked fresh concerns about a slowdown in the global economy. Brent crude futures dropped 0.2% to $62.6 a barrel, and US West Texas Intermediate fell 1.4% to $54.48 a barrel. Oil prices had been buoyed by a new round of supply cuts from Opec and its allies.
Can we really make sense out of this Brent Crude Oil news? Maybe you can, but do we really need it? No we don't. Price reached a very strong monthly demand level, we are allowed to buy Brent Crude Oil but we are not allowed to sell it.
You can also use various options strategies to take longs at demand imbalances, long calls, spreads or any other strategy that you might have on your trading plan.
Brent Crude Oil Rally on the way?The price of oil is trying to break the current resistance for the 7th time and this time if it looks like it's the right one! \
Buy Brent
Entry Price: 63.30
Stop Loss:62.70
Take Profit: 66.29
Brent (Crude Oil) signal!Although we are still on the upward trend The price of oil encountered serious resistance in the form of an Ichimoku cloud!
We recommend selling now
Sell Brent
Entry price: 61.45
Stop Loss: 63
Take Profit: 58.75
A great opportunity to sell in Brent Oil. don't miss it.Midterm forecast:
Although current trend is uptrend but we forecast a downtrend wave would begin in Midterm.
Technical analysis:
There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
Relative strength index (RSI) is 47.
Trading suggestion:
There is a possibility of temporary retracement to suggested Sell Zone (77.65 to 80.40). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (77.65)
Ending of entry zone (80.40)
Entry signal:
Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 75.40
TP2= @ 73.25
TP3= @ 71.30
TP4= @ 68.85
TP5= @ 66.65
TP6= @ 62.35
TP7= @ 58.15
TP8= Free
Brent Crude Oil. Full technical and Wave analysis
There are a lot of intraday signals for good setup. But consider the situation at the moment. One of them is now presented on the chart and is ready for implementation
Brent Crude Oil approaching support, potential for a bounce!BCOUSD is approaching strong support at 63.54 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a nice bounce could potentially occur at this level to push price up to major resistance at 66.35 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major support above 2.1% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Brent Crude Oil testing major resistance, potential for a drop!
Brent Crude Oil (BCOUSD) is tesing major resistance at 66.64 (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) and a strong reaction could occur at this level to push price back down to 64.31 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance at 98% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Crude Oil BrentHere we see Elliott Triangles, expanding. Lower line declining.
Bears, are u ready?
My long-term vision.
Oil trying to be optimisticFormed an inverse H&S at the 4-Hour chart. Possibly have already 'retested' it.
long UKOIL @ 1h @ trading capability for this 2nd week `17This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
Best regards :)
Aaron
Potential Upside in Brent Crude Oil (Cont'd)Continuation from previous post, and adopting @pipizer feedback in the comments:
1. The past few days has saw a drop in the price mainly due to reports on OPEC output in October reached an all-time high. This lead to a further decrease which finally complete the Cypher Pattern.
2. A reversal candle (hammer) was formed the following day (14 Nov) with a long tail signalling bulls overcoming the bears at EOD. Mainly driven by renewed hopes of OPEC output deal.
3. Breakout of previous day hammer lead an opportunity to long and my entry was around the area stated, with a Stop Loss placed around the support region indicated.
4. I have identified 3 potential resistance zone and they fall nicely into the fib retracement 0.236, 0.382 and 0.618 area.
5. The first resistance zone break will cause more conservative traders to go on a long due to a 2nd breakout and short position traders will start covering their shorts which becomes the driving force to push further up.
6. Still, upcoming OPEC deal will be the crucial driving force for it to either trumps or fall. It will still be volatile during this period.
7. My exit strategy will be on a trailing stop in this case.
