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Crude Oil Brent

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
#Brent crude - an important inflection areaThis analysis is done on a monthly chart so this could still consolidate and take some time to play out but just a few interesting points to note: (1) the 200 month moving average (green line) has acted as a support and resistance level for the price of brent crude for the last decade and a bit (looks to be supporting price action currently) (2) the 61.8 fib from the extreme April '20 lows and March '22 highs come in at around $77.60 where the market recently bounced from (3) resistance monthly highs in October '18 and October '21 seem to be now acting as support (change of polarity). (4) RSI 50 level holding on the RSI (5) Price candle action (wicks) on the monthly chart over the last quarter shows that the bulls are ready to buy into any weakness during the month (6) Not shown on the chart but if you look at the daily chart we are forming a flat top triangle which usually breaks to the upside which also has a target at roughly $100 Given the significance of this consolidation zone between 77 and 84 leads to a high probability that OIL will once again move higher after this consolidation phase is complete. Thus on a medium term view I would use any weakness in Brent crude to accumulate a position for higher levels with a medium target around the $100 mark If you look at seasonality data for Crude oil futures in the past, you can see it enjoys a favourable period from the end of February to around end of September. www.equityclock.com
FX_IDC:USDBROLong
by MarcoOlevano