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Crude Oil Brent

UKOIL monthly technical analysis !TVC:UKOIL Hi everyone , I hope you're all fine . - UKOIL has recently broke downtrend and also the price had a pullback to the broken trendline - Also the price is is moving in a ascending channel --------------- the next resistances would be : 1- 86.70 (which is the top of channel and also last resistance 2- 116.00 (which is a nice resistance with 4 touches since 2012 and 2016 until now now let's see some fundamental info about OIL : - US crude inventories fell more than expected last week, hitting a three-year low, according to the US Petroleum Institute and the US Energy Information Administration. The upward trend in natural gas is likely to lead to increased demand for black gold. This year, crude oil has grown by more than 80 percent since the beginning of the year, as the global economic recovery from the Corona outbreak significantly boosted demand. On the supply side, OPEC Plus members are also gradually reducing their production restrictions. In addition, Hurricanes Ida and Nicholas affected production in the United States. The Gulf of Mexico was hit hard in late August (early September) and September (early October), respectively. Given the imminence of the fourth quarter and the winter season in the Northern Hemisphere, some investors predict a continued upward trend in prices. The Goldman Sachs Group (NYSE: GS) said the market deficit was higher than expected, raising Brent oil forecast from $ 10 to $ 90 a barrel at the end of the year . Source : Investing.com ----- so what's your opinion guys ?? we'd be glad to see your idea in comments .
TVC:UKOILLong
by mahdirhimi
Brent: forecast for Sept 27 - Oct 1There was no negative news for the oil market following the September Fed meeting. Interest rates and asset purchases remained unchanged, although the rhetoric continued to escalate. In particular, the Fed announced its readiness to make a decision to start cutting the asset purchase program at the next meeting. Additionally, an increase in expectations for the level of the base rate in 2022-2023 was announced. Consequently, buying priority remains, but at the moment it is risky to get into a long position. The price would be corrected. From the very beginning of the week, the instrument may start its downtrend movement. It will be much more conservative to wait for oil to approach the resistance line of the ascending channel and try to sell around the level of ~ 78. Buying mood for gas and coal, as well as the expected deficit in the oil market by the end of the month, would continue to support oil prices. The trading instrument, taking into account the expected correction, would remain above $ 75 per barrel.
FXOPEN:XBRUSDShort
by TradePlus-Fx
1
CRUDE OIL (WTI) Key Levels to Watch 🛢 Hey traders, WTI Oil finally reached our goal. What is next? Here are the key levels for you to watch: Resistance 1: 73.7 - 74.2 The price is approaching that area at the moment. Being quite overbought, we might expect a pullback from that. Next week I will look for a confirmation to short from there. I will post the update if I see a nice setup. Resistance 2: 76.3 - 77.0 The area is based on year's high. In case of the bullish violation of Resistance 1, that will most likely be the next goal for buyers. Support 1: 69.3 - 70.6 Our closest demand area. Spotting that earlier we nicely predicted a bullish rally from that. In case of its test in the future, we will look for pullback trades from there. ❤️Please, support this idea with like and comment!❤️
TVC:USOILShort
by VasilyTrader
11
UKOIL reversed off resistance, potential drop!Price is approaching 1st resistance at 77.72 in line with Horizontal swing high and 76.4% Fibonacci extension where it could see a reverse down to 1st support at 73.50 in line with 61.8% Fibonacci retracement and 23.6% Fibonacci extension. Our bearish bias is further supported by how Stochastic is testing resistance where price dropped in the past. Otherwise price may continue to bullish to 2nd resistance at 80.22 in line with -27.2% Fibonacci retracement and 127.2% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKOILShort
by TradeGATEHub
CRUDE OIL (WTI) Preparing to Buy! My Trading Plan 🛢 Hey traders, WTI is approaching daily/intraday zone of demand. To catch a bullish move with a confirmation, watch a double bottom formation on 1H. 71.1 - 71.5 is its neckline. Wait for its bullish breakout (1H candle close above), they buy aggressively or on a retest. The first goal will be 72.9 In case if the price respects a neckline and sets a new lower low on hourly, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
TVC:USOILLong
by VasilyTrader
5
UKOIL WK1: 150% Gains XABCD setup BUY/HOLD(NEW)(SL/TP)Why get subbed to me on Tradingview? -TOP author on TradingView -2000+ ideas published -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -before/after analysis -24/7 uptime so constant updates 🎁Please hit the like button and 🎁Leave a comment to support our team! UKOIL WK1: 150% Gains XABCD setup BUY/HOLD(NEW)(SL/TP) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. 🔸 Summary and potential trade setup ::: UKOIL WK1 chart review ::: chart is LOG SCALE ::: setup still valid expecting ::: 150% gains final TP BULLS ::: is 175 USD in 2022/2023 ::: XABCD pattern in progress now ::: cycle low for oil market at 20 USD/ bbl ::: BULLS will maintain control ::: 12/24 months as global economy ::: is starting to recovery right now ::: BULLISH CYCLE is ON BUY DIPS ::: DO NOT SHORT yet into BULL MARKET ::: point D is best short 175 USD/ bbl ::: BUY ANY DIPS / final TP bulls is 175 USD/ bbl ::: 150% upside from current market price ::: WAIT for dips and reload (BULLS) ::: recommend to BUY/HOLD ::: recommended strategy: BUY/HOLD ::: bullish super cycle in oil market ::: SWING trade setup do not expect ::: fast/miracle overnights gains here ::: good luck traders 🔸 Supply/Demand Zones ::: 50USD fresh demand zone ::: 175USD fresh supply zone 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment short-term: BULLS / MORE GAINS ::: Sentiment outlook mid-term: BULLS / SUPER CYCLE RISK DISCLAIMER: Trading Crypto, 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
3