Oilprice
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 48.95, 54.40, 58.65 and more heights 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 69.
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Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 48.95, 54.40, 58.65 and more heights 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 69.
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Possibile AFFECT of ISIS Attacks on Israeli-Egyptian PipelinePossibile AFFECT of ISIS Attacks on Israeli-Egyptian Pipeline and RISING of OIL PRICE ..
OIL 9.55% jump was expected from August high levelUSOIL
*********
⏳4 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational
—————-❇️——————-
Detailed analysis 💬
1️⃣ Positive vaccine hope-major boost in energy demand
2️⃣ Demand driven recent upward rally
3️⃣ Break and retest happens around 40.00 ( Psychological level )
4️⃣ 44.00 Upper side resistance - Minor Key reversal area
5️⃣ Successful move out of the ranging territory
6️⃣ August high - 43.79 immediate support for bull
7️⃣ Technical support - Bull
8️⃣ 48.00 will acted as key reversal-bearish
9️⃣ June, September, October months low's forming a lower side trend line
🔟 Possible swing target-48.00 Key reversal area
*️⃣ Reverse Parabolic move-Slowing of the momentum
#️⃣ Overall trend - bullish
—————-❇️——————-
📉 Technical bias-H4-Bullish
Price is above 50,100,200 Exponential moving average
50 Exponential moving average will act as support-Bull
Ichimoku cloud -cloud is still green -Cloud supporting the bullish trend
Bollinger band- Price reached around the upper side of the band and middle band is acting as bullish support
Relative strength index - Reached around 50 neutral area 50- Will act as support for bullish trend
MACD -Turned red and fell below the signal line ,oscillators are crossed and pointing downwards
Stochastic - Reached around 60- Oscillators are converging pointing downwards short term fall back expected
—————-✳️——————-
Key reversal area's
44.00 Psychological level/Dynamic support & Resistance
43.79 August month high
48.00 Key reversal area/psychological level
41.86 October month high
4.39 September month high
43.00 Major psychological level
38.00 POC area
43.79 Support level/Possible entry- Bull
48.00 Psychological level/Alternative bearish entry
—————-✳️——————-
Bullish entry #oil #usoil
Entry price - 43.80
Take profit 01 - 45.00
Take profit 02 - 46.20
Take profit 03 - 48.00
🚫 Stop lose 42.30
⬆️ 9.59% Growth expected
⤴️ Account growth 2.05: 9.59
✅ Risk reward ratio 1 : 4.7
—————-⚜️——————-
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Crude Oil analysis for a buy.As shown on the chart, candlesticks patterns confirm on a 'daily' timeframe how Crude Oil is a buy.
We can see that the respected level has finally being broken and with a continuous bullish candlestick.
Patience will be needed at this point as the market tends to retrace to test that exact price level where it broke our resistance level to turn it into a support level before continuing its trend in an upward manner.
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BM_Forex Traders.... The Best Team For Trading.
USD/CAD - Short Sell Set UpWe look at the fundamentals behind a strong Canadian Dollar driven by higher Oil prices.
I show you the relationship between Oil and the Canadian dollar as Oil is Canada's key export, making up 20% of all it's exports.
We look at some Technical Analysis entry strategies, using one-month ATR Volatility for stop-loss area's!!
$USOIL bull run fits logic & silences the "Oil is dead" bears!While natural energy is certainly spiking on the speculation Oil has reached the end of its road, there is no sense telling that to the smart traders - the ones still benefitting from a multi-TRILLION dollar industry that will not go quietly. While in developed nations, bidding adieu to crude may happen "SOON" (within 15-years), developing nations will remain reliant on fossil fuels probably clear to the year 2175 if not 2200. Change and progress is not ever unilateral, and in this case, it will not be, nor will the areas of the world reliant on cheaper fuel turn to solar energy before nearly forced to.
OIL could die its death in California when that 2035 initiative passes, but one thing we have learned as United States citizens, is that Cali jumps the gun on EVERYTHING: Marijuana has been legal medicinally there since the mid-90s while still to this point roughly 60% of the other states have not yet done so. So feeding into that 2035 "no oil car" ban is the fact that California is decades "ahead" of the rest of the states when it comes to these "signs of progress."
Oil trading will die *someday*, and it will die quickly when the alternative energy is actually CHEAPER -- right now? It's nowhere close, meaning the transition, probably is not either.
This is all very speculative thought, but for anyone thinking OIL IS DEAD, they have a lot of homework to do before expecting every nation to conform to the whims of the self-proclaimed "Progress(ed)." The world has never worked that way to this point, so the OIL IS DEAD ALREADY crowd is not only ignoring history, but also ignoring the present. OIL returned to 45+ per barrel yesterday, and while the highs of 2018 may loom unrealized forever, there is plenty of LIFE IN DEATH, in using dead organisms' crude oil to power ...yes, even natural energy. Unless the fuel is 100 percent solar, it's coming from fossils at the root of it. There is no convenient way around this fact, for the naysayers.
Unsurprisingly, logic is winning again, and OIL BULLS are counting big profits the last week or so.
Hard to count profit from something that is dead, eh?
GO GET EM,
-BDR
Post-note: Want to gain? Check out the related IDEA (not advice! haha!) of the $GUSH oil ETF.
BUY OIL (Brent)Oil prices are climbing to the Upside as the positive developments for a Vaccine that could be rolled out as early as next month, is extremely positive for the demand outlook for Oil in 2021.
We look at entry price, stop loss and upside targets.
One month ATR Stop Loss included.
WTI Oil - time to drop (please!)Our reviewed and renewed chart on Oil, how it has been rising on positive sentiment and vaccine news but also it has hit the resistance and a drop (even temporary or bigger) is expected.
We have positions opened from selling last week, we are doing dollar cost averaging and selling now again, so please oil, just drop ;)
WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.75, beginning of downtrend is expected.
We make sure when the support at 34.60 breaks.
If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 65 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 40.20 on 11/13/2020, so more gains maximum to Major Resistance (43.75) 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 60.
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WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.75, beginning of downtrend is expected.
We make sure when the support at 34.60 breaks.
If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 65 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 40.20 on 11/13/2020, so more gains maximum to Major Resistance (43.75) 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 60.
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Bullish Crossover on MA180 and MA9 $SMSm energy with a bullish cross-over on moving average indicators, Should be a bull run to about 7 dollars. I will be taking profit and repositioning at $5-7. Earnings outlook is great. They just secured a well deal for 1billion. Company looks amazing.
WTI OIL- Back to 40$ or lowerOUR TECHNICAL ANALYSIS ON CRUDE OIL WITH KEY SUPPORT AND RESISTANCE LEVELS AND PRICE TARGETS
Crude OilHere is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Break the channel I think there will be a sell chance let wait and see,
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
The information given is not Financial Advice.
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Wish you luck guys
Oil- Time to SELL againOil has risen early this week but we see major resistance being checked and possible drop in the next few hours.
We are going short again, now.
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 36.95 breaks.
If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 45.44 on 11/11/2020, 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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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 36.95 breaks.
If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 45.44 on 11/11/2020, 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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ForecastCity English Support Team ❤️
OIL- We called the drop nicely TP levels on chartSo we called the drop nicely, now let's take a look at our targeted take-profit levels
WTI . Weekly Technical Analysis UpdateMidterm forecast:
39.70 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 39.70 is broken.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 39.50 on 11/05/2020, so more losses to support(s) 36.30, 34.60, 30.85 and more depths 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 44.
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