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Crude Oil Brent

usoil 8h chart buy low after pullback tp 85 usd/bbl🔸Today let's review the 8 hour chart for crude oil . Previous setup was invalidated due to the unexpected OPEC production cuts. Right now technical outlook flipped to bullish. 🔸Price gapped higher almost 10% after the OPEC production cuts were announced. Bulls hit the strong overhead resistance at 82 USD/bbl and right now I'm expecting a short-term pullback and re-test of the key s/r bulls below market price. 🔸Recommended strategy for crude oil traders: expecting short-term pullback and therefore the recommended strategy for bulls is to buy low after we re-test the key s/r price levels at 72/73 usd bbl. stop below recent market lows and TP1 is 80 USD/bbl and TP2 is 85 usd/bbl. This is a swing trade setup, so may take a while. good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
TVC:USOILLong
by ProjectSyndicate
15
Crude Oil (WTI): Have You Seen That GAP? 🛢️ With a sudden OPEC decision to cut oil production rate, the market opened with a huge gap up. The price is currently testing a solid horizontal supply cluster. What we know about gaps is the fact that in 80% of the time they tend to be filled. I believe that sellers will push the price from the underlined resistance and initiate a bearish move. Goals will be 78.57 - middle of the gap, 75.75 - gap open. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
7
crude oil bears will target 60 usd/bbl in april 2023🔸Hello traders, today let's review the 4 hour chart for crude oil. Previously we were stuck in trading range, locked between 73 usd and 81 usd, however recently the trading range broke down and this exposed further downside below 70 usd / bbl. 🔸The active trading range is defined by 81 usd range highs and 73 usd range lows. Bears pulled the price down recently due to US banking crisis woes. It's still worth noting that this distribution fractal setup is continuation of the prior downtrend, established in 2022. 🔸Recommended strategy for crude oil traders: bears should look for reversal trade setup near mid range, which is 77.50 USD/bbl. Once we get a decent rejection, bears should scale in on sell side, initially targeting 70 USD / bbl and subsequently a fresh low at 60 USD/bbl. We can hit this level sometime in April/May 2023. 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
TVC:USOILShort
by ProjectSyndicate
22
USOIL W1 UPDATE ( TECHNICAL )For more updates, please follow my TradingView page, and if you find the content useful, kindly hit the "thumbs up" button to show your support. If you have any queries regarding trading, please feel free to send me a direct message on TradingView. Additionally, please share this content with your friends who may find it beneficial. Please note that any trading updates provided here are for educational purposes only, and it is always advisable to conduct your own research before making any investment decisions. It is important to ensure that all conditions are met before following any trade plan suggested in this update.
TVC:USOILLong
by traderchamp_
2
MarketBreakdown | WTI Oil, EURUSD, GBPNZD, EURAUD Here are the updates & outlook for multiple instruments in my watchlist. 1️⃣ WTI Crude Oil daily time frame🛢️ The market is trading in a long term bearish trend. After the last sharp bearish movement, the market is steadily recovering. Ahead, I see a major horizontal supply area. Probabilities are high, that the next bearish wave will initiate from there. 2️⃣ EURUSD daily time frame 🇪🇺🇺🇸 After a breakout of a solid daily resistance, the market is preparing for its retest. Watch carefully the underlined zone and look for buying opportunities from there. 3️⃣ EURAUD weekly time frame 🇪🇺🇦🇺 The pair is currently approaching a weekly horizontal resistance cluster. Taking into consideration, that the pair is quite overbought, probabilities will be high to see a pullback from that 4️⃣ GBPNZD daily time frame 🇬🇧🇳🇿 The pair is currently retesting a broken neckline of an ascending triangle. As we discussed earlier, the trend line of a triangle and its neckline compose a contracting buy zone now. Chances will be high that the next bullish wave will initiate quite soon. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
6
OIL PRICE IS TOO LOW TO STAY AT THIS LEVEL FOR LONG#COMMODITIES #TRADESETUP 📡🔞 TRADE $BRENT 🔽 LONG (BUY) > 76.20$ ❌ STOP > 75.10$ (1.18%) ✅ T1 > 93.32$ (RR 19.31) ✅ T2 > 119.5 (RR 48.41) ☠️CAUTION !!!! 2 IMPORTANT INFORMATION TO TAKE INTO CONSIDERATION: > THIS IS A MT/LT TRADE. REGARDING THE SETUP. JAC IS DONE AND WE ARE WORKING ON THE EXIT. PIV D (76.47$) MIGHT BE THE KEY. > IF WE REINTEGRATE THE FORK (BACK BELOW 75$). LAST CALL MIGHT BE THE LEFT LQ ZONE (73.30$) > FUNDAMENTALS OPEC+ likely to stick to its guns despite price slump, delegates say www.reuters.com Wo1and, PhD
FX:UKOILLong
by UnknownUnicorn6367453
UKOIL🛢️ macro movesBrent Crude Oil : Multiyear(2015-2022) inverted Head and Shoulders triggered at the beginning of this year. Price broke the major downtrendline and subsequently iH&S neckline at 87 (lime) and then skyrocketed to 138. Now pulling back down to the neckline. We could actually see the backtest of the major downtrendline and dip into the S/R Zone 76-68. This would be great buying opportunity. Price shouldn't get much below right shoulder (65.8), otherwise the setup would be invalidated. Will set SL to 60, Target 157. Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
TVC:UKOIL
by bizmark
18
Brent: In the Jungle 🌳🌴🎍Wimoweh, wimoweh, wimoweh, wimoweh Wimoweh, wimoweh, wimoweh, wimoweh Wimoweh, wimoweh, wimoweh, wimoweh Wimoweh, wimoweh, wimoweh, wimoweh In the jungle, the mighty jungle The lion sleeps tonight, In the jungle the quiet jungle The lion sleeps tonigh Wee heeheehee…– … – okay, let’s stop here before we won’t be able to get this song out of our heads. We should rather take a look at Brent, which has advanced deep into the dark green jungle between $77.13 and $42.20 and has left the mark at $75.09 behind. We hope, the course has taken a sharp machete along, as we expect it to penetrate the scrub further – ideally until the 61.80%-retracement at $62.71. There, it should complete wave 2 in green and subsequently turn upwards again.
TVC:UKOIL
by MarketIntel
USOIL - Reversal Inbound! USOIL is showing us a really nice ending diagonal, consisting of 5 waves subdivided into 3-3-3-3-3. We can see that we are now in the 5th wave so we can look for a reversal trade. The equation we are working with is the following: USDCAD inversely correlated to USOIL. Anticipating USD weakness during FED = USDCAD bearish = USOIL bullish We are anticipating Dollar weakness during FED and therefore looking for USOIL strength around the time of FED. Trade Idea: - Watch for price to move towards the support of the diagonal - wave 5 can often fall short or extend beyond its normal parameters which is why we have the red trendline to help us with entry - Entry on break of trendline - Stoploss below price after red trendline breaks - Targets: 80, 90, actively manage the rest Goodluck and as always, trade safe!
TVC:USOIL
by WicktatorFX
2
ukoil 8h chart broke down 15% correction warningUKOIL 8hour chart review/outlook. Broke key s/r recently so expecting weakness next 4-8 weeks. Previously compression intro triangle pattern and sequence of higher lows was invalidated recently with break of 83.50 USD. sequence of higher lows at 76.50 and 79.85, but broke down with recent sell side pressure mounting due to US banking crisis. Based on measured move price projection bears will target 69.50 USD, so this is a 15% correction off the base of the triangle patter setup. Recommended strategy: short sell rips/rallies and exit final TP at 69.50 on sell side. 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
TVC:UKOILShort
by ProjectSyndicate
20