Scenario Brent Crude OilI will first focus on the marked circle where the overall turning point can take place, if the price does not reach the support, it is quite possible to move from the marked triangle in the direction of the long, because based on Elliott's wave theory, there is a long formation, if the price breaks below this zone, it is quite possible to weaken prices and proceeding to lower prices
Brentshort
BRENT CRUDE OIL may drop in price by as much as -65%Today we would like to share my opinion on the possible price of Brent Crude Oil in the coming years, analyzing the chart on a monthly timeframe
The war in Ukraine is not just a war between the two countries, it is a geopolitical problem that will affect all world economies.
The world's economies have not yet recovered from the Covid-19, and here is another blow.
Expensive energy will stop buying due to the excessive cost of production of "everything", the purchasing power of the population falls. Declining demand for oil will bring down the price.
The fall in the price of Brent oil -25% in the coming months in the area of $78-80 per barrel will be just the beginning.
But looking at the schedule, is striking the price zone of $36-46 to be a strong mirror level and this is -65% of the current price
Maybe this is a fair price for oil, from where a total restart of the world economy can take place by purchasing cheap energy resources.
Perhaps this is symbolic, but for the first time on the historical price chart of Brent, the zone of $36-46 was established as important when there were powerful geopolitical world changes: 1979-1980 - the Islamic Revolution and 1990-1991 - the collapse of the USSR
BRENT (Brent Crude Oil) SELL TF W1 TP = 35.69On the W1 chart the trend started on April 2022 (linear regression channel).
There is a high probability of profit taking. Possible take profit level is 35.69
Possible variant by dates, approximately June-July 2025 (this is my personal opinion, my calculation).
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelievelnTrading
Brent Crude Oil Shooort!Based on the previous analysis I had done, it seems that this commodity might test the lower trend line of the pennant pattern.
Considering that it is consolidating as for now, a sell entry position can be entered at around 80.80, when the price breaks out,
Let us wait as for now to gain more clarity.
UKOIL (Brent) Technical Analysis - VideoIn my previous post, I shared my analysis on Brent crude oil. Here's a video explaining the reasoning behind my trade idea:
Currently, Brent is trading within a daily range-bound channel. It's pushing against the upper boundary, which hints at a possible retracement to test previous lows. Interestingly, historical data over the past decade suggests that March tends to be a bearish period for Brent.
Disclaimer: Remember, this analysis is based on technical factors and should not be seen as direct financial advice. Trading commodities is inherently risky. Before making any trades, always consult with a qualified financial professional and carefully consider your own risk appetite.
BRENT - Interesting sell zone!Hello everyone!
The plan is still in effect; I've taken a second entry!
- Here's my view on BRENT:
- We have liquidity.
- We have an interesting zone.
- We have the optimal Fibonacci.
- We have accumulation before/on the zone.
- We are with the trend.
Fundamentally, we'll continue to monitor the evolution of conflicts in the Middle East because they can significantly impact the price of oil in case of escalating tensions! Given that we have the largest oil producers there, having conflicts nearby is concerning! So, stay cautious.
That's why I see BRENT drop in the zone and bumping!
🚀 If you liked it and want more, don't hesitate to subscribe and boost the post!
BRENT - Interesting sell zone!Hello everyone!
The plan is still in effect; I've taken a second entry!
- Here's my view on BRENT:
- We have liquidity.
- We have an interesting zone.
- We have the optimal Fibonacci.
- We have accumulation before/on the zone.
- We are with the trend.
Fundamentally, we'll continue to monitor the evolution of conflicts in the Middle East because they can significantly impact the price of oil in case of escalating tensions! Given that we have the largest oil producers there, having conflicts nearby is concerning! So, stay cautious.
That's why I see BRENT drop in the zone and bumping!
🚀 If you liked it and want more, don't hesitate to subscribe and boost the post!
BRENT - Interesting sell zone!Hello everyone!
The plan is still in effect; I've taken a second entry!
- Here's my view on BRENT:
- We have liquidity.
- We have an interesting zone.
- We have the optimal Fibonacci.
- We have accumulation before/on the zone.
- We are with the trend.
Fundamentally, we'll continue to monitor the evolution of conflicts in the Middle East because they can significantly impact the price of oil in case of escalating tensions! Given that we have the largest oil producers there, having conflicts nearby is concerning! So, stay cautious.
That's why I see BRENT drop in the zone and bumping!
🚀 If you liked it and want more, don't hesitate to subscribe and boost the post!
Oil Brent - H4Oil Brent
W1 - The formation of a 3-wave structure continues
D1 - The price has reached 161 lvl. 3rd wave, which may mean further movement down to level 200 - 261
H4 - The price is in the correctional 4th wave, you can see the formation of an ascending channel. If the lower trend line is broken or fixed behind it, further sales to the levels of 75.4 can be considered
You can also consider entering from the formation of a double top and further movement to the lower boundary and beyond.
What to expect now?
Expectation of breaking through the level of 82.20 and fixing the lower border from the level of 81.15.
When opening a position, it is best to exit the position from the level of 83.60; if this scenario does not materialize and the price may return to the local range, wait for the lower border of the channel to be broken.
Short
Targets 80.00 - 79.16 - 78.43 - 76.87 - 75.41
Oil Brent - W1Oil Brent
W1 - The price has formed a 3-wave structure, which may indicate a trend reversal, and if this scenario is implemented, it will be possible to potentially see the price at the level of 66.30. Judging by geopolitical data, due to the rise in oil prices and the growth of the asset, there was a local movement. To confidently enter sales, it is better to wait for the level of breaking through the 1st wave of 83.30 to be fixed.
What to expect now?
Waiting for the breakout and fixation at the level of 83.30. When opening a position, it is best to exit the position from the level of 88.13, if this scenario does not materialize and the price may return locally to the range of 85 - 95
Complete cancellation of the script mark 93.83
Short
Targets 81.18 - 76.73 - 72.80 - 66.30
BRENT OIL ( UK OIL ) LONG term Trade AnalysisHello Traders
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Brent \ Oil - AnalysisOil Brent
MN - The price has broken through the trend line at 87.51, which may indicate the beginning of an upward movement.
W1 - We are observing a retest after the triangular formation and a breakout of the level of 87.51; for the price to move further upward, it is necessary to wait until the price consolidates at this level, which will open up the possibility of moving to the level of 108 - 125
If the price does not fix at the level of 87.51, we can expect a continuation of the downward movement with a target to the 71 price level
What can you expect now?
When moving up, the nearest target is 99.34
When moving down, the nearest target is 81.64
Long
Targets 99.34 - 108.94 - 125.09
Medium term - targets 92.34 - 94.87 - 99.34
Short
Targets 81.64 - 76.52 - 71.27
Medium term - targets 85.40 - 83.79 - 79.81
Bearish outlook on BRTUSD - 28 April 2023Price is hovering above a key support zone at 77.80 on the H4 timeframe. A break below this zone, which is in line with the 78.6% Fibonacci extension level, could provide the bearish acceleration for a further throwback to the next support zone at 72.80, which coincides with the 78.6% Fibonacci retracement. Price is holding below the 20 EMA and Ichimoku cloud, while ADX above 25 is indicating a strong trend, supporting our bearish bias.
Brent: Christmas Miracle ✅🎄We're finally seeing green! After waiting the whole year for Brent to reach the green target zone between $77.10 and $42.16, our British friend finally came through! We're expecting the course to sink a bit further to finish off green wave before heading back North above the $80.79-mark.
Crude prices under downside pressureCrude prices under downside pressure on the back of weaker demand outlook
The recent break below the $92 short term support level has opened up the prospects for a further decline towards a test of the September 30th lows near $84, the bearish outlook can be technically supported by the fact that current price is below its 20 and 50 day simple moving averages, as well as the fact that the 14 day relative strength index has crossed below its respective signal line (bearish). Short positions can therefore be technically supported provided price is unable to push back above the recent support now turned resistance at $92. Short sellers may be looking for $84 and $81 as potential downside targets, while longs may be aiming for a retest of the $92 area with $93.54 in extension.
BRENT CRUDE OIL BEARISH PREDICTIONSPrices of petroleum are declining due to increased output by OPEC and United States and weakening demand by the Chinese economy.
RSI index of the Daily graph of BRENT is below the neutral line of 50, and MACD histogram, although still above 0 line, is declining.
If the price keeps falling, it might test its previous support at 91.50 and if it breaks it, it might target levels of 84. Alternatively, it might try to reach levels of 105.5
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A complete review of Brent oil with Elliott styleConsidering that oil left its long-term correction process on April 20, 2022; It started an increasing and powerful process and increasing tensions and war made this process more powerful.
By carefully examining this trend, it can be said that this trend ended in 5 waves; And now, with the situation balancing a little, the stagnation, the increase in oil production, and at the same time the permission of Venezuela to enter the oil market; The price has entered price correction. It should be expected that this price correction will be in the form of a wave (ABC).
Considering the price movement in the lower time frame, it can be expected that wave A will be formed in the form of 5 waves.
I believe; Currently, wave 1 is being completed, so we have to wait for wave 2 to be created.
If the end of wave 2 is 115; This analysis is complete and you can make the most of the other waves shown.
It should be considered that with the price reaching the range of 36-39.5 in the consolidation of the higher time frame, this whole movement can be considered as wave 1 and 2.
Tip: We have to see how the trend will be formed along the downward path; It is possible that this entire decline in price can be shown in the higher consolidation of an A wave.
In any case, upon reaching the price range of 36 to 39.5, the trend should be re-examined and a new analysis should be presented.
This analysis is prepared with an economic perspective; But from a human point of view, I am very sorry for the war and I sincerely sympathize with Ukraine.
what is your opinion ?
(be profitable)
UKOIL - SHORTFalse Breakout of Major Resistance Level. A Bearish Harmonic Pattern has been formed. Selling opportunity!
UKOIL - SHORT
ENTRY PRICE - 88.77
SL - 91.50
TP - 79.20
Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments.
Have a nice day!
BRENT to reach $70 soonI've been expecting this for a while now, since brent hit $75 for the first time in teh recent weeks. but it seems to resilient and doesnt seem to fall back to support around $70.
But i think im clocked it... brent has almost reached $73 as calculated. I think we will see a pull up to around $75 again as teh selling pressure has already weakened.
But from $75, there is a high probability that brent will continue its downward move towards $70.
When it does reach $70... im buying Brent, as i dont think it will fall significantly below this anytime soon.