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Crude Oil Brent

📈BRENT 08/12/2022: strive upward❗️📈 Priority direction : Up . 📝 Description: Brent crude is currently trading near the POC (point of control) of the previous week and it is not surprising that buyers did not pass this barrier on the first attempt. It may take several such attempts, but most likely the situation will develop in favor of buyers and the instrument will rush to $101.50 (another barrier to growth). If the above levels are overcome (this is already a more medium-term idea), then oil will not keep you waiting and will reach $104.23. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
TVC:UKOILLong
by Market-Mentor
1
📈GOLD 08/12/2022: trying to go up again❗️📈 Priority direction: Up . 📝 Description: Today, there are facts for the metal to believe that the price will push up from the level of $1786. Yesterday, the volumes of market participants were distributed almost evenly at all price levels. Even if the instrument drops to $1780, the buy-priority remains until the uptrend channel support line is broken (there the price will go to $1770). The target of buyers for today is the level of $1800, once again we are trying to break it up. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
OANDA:XAUUSDLong
by Market-Mentor
3
📈EURUSD 08/11/2022: push up❗️📈 Priority direction: Up . 📝 Description: The US inflation data sent the currency pair straight towards our target of 1.03500 set earlier. For further growth, as it is easy to see, it is necessary to overcome the resistance just near this level. Further growth is quite real, but confirmation is needed for this. In the near future, we assume that the price will consolidate at current levels and push up the resistance area. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
Long
by Market-Mentor
4
📉GOLD 11/08/2022: no big sales❗️📉 Priority direction: Down . 📝 Description: Another approach to $1800 was made yesterday by buyers, but the price again failed to overcome this barrier. But the growth potential did not end there and it remains until, as we believe, until the level of $1765 is broken. The upward local trend is in force, but today the priority of sales is up to the level of $1781, where growth can already be assumed. Purchases for today will be relevant only as a result of fixing the price above $1790. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
OANDA:XAUUSDShort
by Market-Mentor
1
📈BRENT 09/08/2022: recovery attempt❗️📈 Priority direction: Up . 📝 Description: After the downward movement since the end of July, the range of which is $16, there is a possibility of recovery and a possible local reversal. The price is at interesting support levels, and the volumes confirm the potential for a likely upward reversal. Buying from the current ones is not a good idea. Longs can be looked at at the level of $97, based on the results of fixing the price at the specified value. The target is located at the level of $98-$100. After such a development of events (as close as possible to this one), we can say that oil locally turned up. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
TVC:UKOILLong
by Market-Mentor
3
📈EURUSD 08/08/2022: outcome soon❗️📈 Priority direction: Up. 📝 Description: The BUY-priority is preserved for the currency pair. At the moment, the main events will develop around the level of 1.02100, where in case the resistance line is broken upwards, the instrument will fly to the level of 1.03000. If everything ends in failure, then the currency pair should be expected at 1.01215. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
Long
by Market-Mentor
3
📈GOLD 08/05/2022: aiming for $1800❗️📈 Priority direction: Up . 📝 Description: As expected, the metal nevertheless overcame local resistance (see yesterday's idea), but so far has not reached the current main goal of buyers at $1800. The support area near the $1785 level is more likely to prevent the price from falling down, thereby forcing the market to push the price up to $1800. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
OANDA:XAUUSDLong
by Market-Mentor
3
WTI oil - Oil to head lower in 2022/2023For some time now, we have been providing relatively accurate price targets for the WTI crude oil. Last year, we navigated the oil bull market from 60 USD per barrel up to 100 USD a year later. Then, in April 2022, we called the peak in the oil market and laid out a few reasons why the oil market could temporarily bounce, but it would continue lower despite that. In addition to that, we said the oil price would drift back toward the 100 USD price tag over the medium/long term. Recently, USOIL reached our price target of 100 USD and 95 USD. Then today, it paused a decline just 0.17 USD above our short-term price target of 90 USD. Despite that, we remain bearish on crude oil and maintain our price target of 90 USD and our long-term price target of 80 USD per barrel. There are several fundamental and technical reasons behind our stance. First, fundamental reasons such as higher interest rates and economic tightening will inadvertently slow down the global economy. Indeed, several indicators flash warning signs of a recession in progress. Ultimately, that means lower demand for oil in the medium/long term, especially from China. Furthermore, the OPEC's supply increase of another 100 000 barrels per day in September 2022 will weigh on the weakening demand for oil. That, combined with reportedly high stockpiles of crude by the EIA, will lower the oil price in the foreseeable future. The same applies to the recent actions by western countries in regard to loosening sanctions on Russian oil. Illustration 1.01 The price of oil continues to move within the downward sloping channel. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Illustration 1.02 WTI oil futures on the weekly chart confirm our assessment of the declining demand for oil, which is reflected in the declining volume since the peak price. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Illustration 1.03 The daily chart of WTI oil futures shows the increase in selling pressure, which is particularly bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Editors' picks
TVC:USOILShort
by Tradersweekly
53
📈EURUSD 08/04/2022: going to break through up❗️📈 Priority direction: Up . 📝 Description: Today it is assumed that buyers will be able to win back yesterday's fall a little, thus, the price can be expected today at the level of 1.02430. There is an insurmountable resistance for the bulls. However, the more attempts and approaches to break through this area, the higher each time there will be chances to realize this. We carefully monitor this resistance area. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
Long
by Market-Mentor
1
📉USDJPY 08/03/2022: short is relevant❗️📉 Priority direction: Down . 📝 Description: The currency pair is in a downtrend locally and the current price range is 130.807 - 134.505. It is assumed that the instrument will continue the downward trend towards the latest local lows. A more conservative option would be to sell from the level of 134.505, where there is an insurmountable resistance area for buyers. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
Short
by Market-Mentor
5
📈GOLD 08/03/2022: trying to keep growing❗️📈 Priority direction: Up . 📝 Description: Nancy Pelosi's visit to Taiwan yesterday stepped up buying in precious metals, fearing a strong response from China to prevent the arrival of the speaker of the US House of Representatives. However, after the American politician's plane landed, prices began to return to their previous values ​​and even fell lower. The $1770 level is still interesting for buyers and they won't give up this milestone just like that. Today we assume an attempt to rise to yesterday's highs. A change of priority in favor of sales is expected only after breaking through the level of $1756. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
OANDA:XAUUSDLong
by Market-Mentor
3
USOIL - Oil will continue to drift lower over medium/long termWe continue to be bearish on USOIL. Accordingly, we still maintain our price target of 90 USD per barrel of WTI oil. Indeed, we would like to change this price target from medium-term to short-term. Additionally, we would like to set a new long-term price target for USOIL at 80 USD. Illustration 1.01 The sloping line acts as the resistance; the more touches it gains, the more important it grows. Technical analysis - daily time frame RSI is neutral. MACD is also neutral. Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
14
📈GOLD 08/01/2022: $1770 resistance❗️📈 Priority direction: Up . 📝 Description: Buyers recovered significantly over the previous week (+3.25%) and this success will be consolidated as much as possible, as expected. However, at the moment the price is near the resistance in the area of ​​$1770 and most likely the buyers will not be able to pass it right away. We assume that the price will approach this level in the near future, there may even be a slight upward impulse, but with a high degree of probability it will be a "false breakdown" and the price will still return under $1770. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
OANDA:XAUUSDLong
by Market-Mentor
1