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Crude Oil Brent

UKOIL daily XABCD bulls 20% upside BUY/HOLD🔸Hello traders, let's review the daily price chart for UKOIL. Speculative XABCD in progress, with 20% upside potential based on the current price action / fundamentals. 🔸XABCD structure is defined by point X at 95.60, point A at 73.20, point B at 92.50, point C at 77.00, point D/PRZ at 105.00, currently most points validated, point D/PRZ pending in May/June 2024 (PRZ/D = 105.00) 🔸Recommended strategy for UKOIL traders: accumulate near market price using low leverage. TP Bulls is 105.00 +20% gains. swing trade setup. good luck! 🎁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:UKOILLong
by ProjectSyndicate
1
A Sell on the Rise StrategyFrom a long-term perspective, Oil, in this case, we use the Brent Last Day Financial by NYMEX CME, overall is trending downward! It would be tempting to initiate a “sell on rise strategy” especially when a long term trend line (in blue) is challenged. The trend line majors the historical highs of Brent (BZ) as well as Crude (CL) since the second all-time-high (ATH) in March 2022. Diving deeper and a closer look to what's happening in 2024! Brent has been consolidating way too long already! Crude oil touched-and-go, the same immediate resistance, and marked a 4-month high before closing just below $87 per barrel. Meanwhile, from a short-term perspective, it coincides with a broad technical bullish consolidation within a channel formation (Orange lines). All recent higher-highs and higher-lows in 2024 have indicated an uptrend and the current bullish bias was well supported at triple bottom (Purple line) in the last couple of weeks. Ideally, Oil should consolidate within the wedge formation until a sustained clear breakout. Oil is trading in an overbought territory and reversal should be in cards! A suggested trade to bet on the stronger challenge downtrend would be to short at 87.50 level and an appropriate stop loss above an immediate significant resistance. Fundamentally still overbought am looking to break the congested trend channel downwards!
NYMEX:BZ1!Short
by phillip_nova
UKOil Looks Bullish**Monthly Chart** UKOIL last month's candle closed bullish after it tested the demand zone in Dec 2023 around 70 levels. This suggests a continuation of the bullish trend at least to test the MC around 95 level. **Weekly Chart** Last week's candle closed bullish after Breaking the recent weekly high at around 84 level. The price might continue moving higher to at least test the liquidity pool at around 88 levels. There is a high probability chance that UKOil will continue the up-move for this week. **Daily Chart** Last two weeks there were good buying opportunities and USOIL broke the high of the range. This week will continue to look for buying opportunities if the price moves below 84.00 level with next target around 88 level. If the price does not sustain the move and starts showing reversals then we will look to sell it instead.
TVC:UKOILLong
by PropSignals
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.
TVC:UKOILShort
by fxtraderanthony
UKOIL (Brent) Technical AnalysisBrent crude oil is presently confined within a daily range-bound channel. The price is currently testing the upper bounds of the range, suggesting a potential retracement to retest previous lows. This analysis incorporates a seasonal perspective – historical data over the past decade indicates a tendency for Brent to experience declines during the month of March. Disclaimer: This analysis offers a technical viewpoint and does not constitute direct financial advice. Trading commodities carries inherent risk. Always consult a qualified financial professional and carefully evaluate your individual risk tolerance before making investment decisions.
TVC:UKOILShort
by fxtraderanthony
ukoil 8 hour short from resistance tp 72/74 usd🔸Hey guys, today let's review the 8 hour chart for UK oil . Any upside is limited by strong overhead resistances, currently weak bounce in progress, however most likely bears will take over from overhead. 🔸Strong resistances will cap upside at 84.00 usd / 86.00 usd. right now locked in tight trading range, however expecting final pump to trigger overhead stop losses before reversal and subsequent sell off event. 🔸Recommended strategy for BEARS: wait for the final pump before short selling from strong overhead resistances at 84.00 and 86.00 SL fixes at 88.00 usd, TP1 bears is 76 usd TP2 bears is 72 usd. swing trade setup, patience required. good luck! 🎁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
3
gbpusd 2700/2720 short tp bears 2500🔸Hello traders, let's review the 4hour chart for GBPUSD today. Nice pump off the lows recently, however upside capped/limited by heavy overhead resistance near 2700/2720. 🔸Downtrend defined by a sequence of lower highs, 2760, 2740, 2720 in progress, right now I recommend to focus on shorting any rips/rallies towards heavy resistance. 🔸Recommended strategy for GBPUSD bears: short sell rips/rallies near resistance 2700/2720 stop loss fixed 40 pips TP1 + 100 pips TP2 +2000 pips final TP exit at 2500. swing trade setup, time required to hit both targets. 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.
Short
by ProjectSyndicate
1
UKOIL OUTLOOKUKOIL FEB WEEK 5 OUTLOOKG - Daily - I am still long bias on oil. if it does pullback, I will not get involved in shorts this week. I will see how it plays out. significant zones to look for absorption are 80.10 - 79.43 78.63 - 77.48 Origin -looking weak here too. if price fails to hold above 80.87 - 80.77 here, next level of support comes down to 78.54 - 79.26. but if for some reason oil does pull up from here and is able to hold the zone 82.98 - 82.66 (low probability) then I will look to enter quick long entries.
TVC:UKOIL
by Osiris992
usoil h4 xabcd short from resistance target 68 usd🔸Today let's review the 8 hour chart for US oil . Noteworthy bounce in progress after accumulation near lows, however currently getting overbought, we are closing in on a cluster of stop losses / heavy overhead resistance. 🔸XABCD structure is defined by point X at 70 usd, point A at 78 usd, point B at 72 usd, point C at 79 usd, point D at 68 usd. speculative XABCD setup. 🔸Recommended strategy for BEARS: bulls will likely trigger clusters of overhead stop losses near 78 usd and 79 usd, look for reversal / rejection near 79 usd and short sell, SL at 82 usd, TP1 is 72 usd, TP2 / final exit at point D / 68 usd. swing trader setup, patience required. good luck! 🎁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
7
USOIL daily best level to buy/hold 24% upside🔸Today let's review the daily chart for crude oil . Recently price action contained within well-defined range trading zone. therefore it's recommended to focus on buying low near range lows. 🔸Strong horizontal support at 67 usd is a great entry point for a swing trade setup for the bulls, short-term expecting more losses, however downside will be capped by the strong S/R zone. Bulls should focus on buying low later, once the pullback is complete near 67 usd. 🔸Overhead resistance set at 81/82 usd, defined by strong horizontal S/R zone previously confirmed with numerous backtests. Therefore, recommended strategy for the bulls: buy low near 67 USD TP 1 is 75 USD TP2 is 80 USD final TP/exit at 82 usd, this is +23% gains (unleveraged). obviously, buy/hold swing trade setup, patience is required and will take more time to hit tp. 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
12