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Crude Oil Brent

The U.S. reveals a trick up its sleeveA few weeks ago, we expressed our bewilderment at the U.S. administration and its handling of the oil stockpiles. Despite oil plummeting below $70 during the summer, officials did not take the initiative to refill the Strategic Petroleum Reserves (also canceling plans to buy oil in July 2023), prompting us to speculate about what trick the administration could have up its sleeve. Finally, last week, we might have discovered exactly what it was when news erupted that the United States lifted some of the sanctions on Venezuela, allowing it to produce and export oil to its chosen markets for the next six months without limitation. While Venezuela’s oil production is only about 800,000 barrels per day, the news announcement is still quite a big thing as it will enable U.S. entities to buy crude oil and help alleviate rising crude oil prices (especially if the country ramps up production in the coming months and the global economy continues to slow down - presuming no broad conflict will affect oil supply in the Middle East). Now, on the topic of technicals, we are paying close attention to the Sloping Support/Resistance. If the price breaks back above the resistance (and holds the ground), it will be bullish. However, a failure will raise our skepticism about more upside. In addition to that, we are watching MACD, RSI, and Stochastic on the daily chart. To support a bearish case, we would want to see all of them continue declining. Contrarily, to support a bullish case, we would like to see MACD reversing and breaking above the midpoint. Illustration 1.01 Illustration 1.01 shows the daily chart of USOIL and a simple setup with bullish prospects above the sloping support/resistance and bearish prospects below it. Illustration 1.02 Illustration 1.02 displays the daily chart of MACD. The yellow arrow indicates a bearish breakout below the midpoint. If MACD fails to rebound back into the bullish area above zero, it will raise the odds for a continuation lower. Illustration 1.03 Illustration 1.03 shows the daily chart of USOIL and simple moving averages. The yellow arrow indicates an impending bearish crossover between the 20-day SMA and the 50-day SMA. If successful, it will bolster a bearish case. Technical analysis Daily time frame = Bearish (with weak trend) Weekly time frame = Slightly 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:USOIL
by Tradersweekly
4
UK Brent OIL 4H : try to retest and then rise UKOIL New forecast The price perfectly fulfills my last idea and price reached our second target + 300 pip . The price of Brent crude futures traded strongly positively yesterday, breaching the 92.52 level and confirming a return to the ascending channel once again, reactivating the positive scenario and heading towards achieving positive targets starting at 95.00 and then 96.00. The 50 moving average supports the price from below to reinforce the continuation of the suggested upward trend, which will remain in effect provided that the price maintains its stability above the 92.52 level.also its possible to retest to 92.52 and then rise up again . The expected trading range for today is between support 92.52 and resistance 95.00 until breaching one of them . Be careful because of the war between Palestine and Israel, we may witness unexpected movements . support line : 92.52 , 91.00 resistance line : 94.00 , 95.00 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
TVC:UKOILLong
by Arazmajeed
UK Brent Oil 4H : failure to stable at the bullish channelUK BRENT OIL New forecast The price of Brent crude oil contracts was not able to hold for long above the support of the ascending channel, trading negatively and heading towards a possible test of the pivotal support 89.55. The conflict between technical factors makes us prefer to remain neutral until we get a clearer signal for the next trend, noting that breaking support 89.55 is the key to resuming the downward correction and achieving negative targets starting at 88.38 and extending to 86.93 in the near term .but if price failure to breach the support 89.55 and stabilized under it then the price will try to rise up and start a correction to 91.00. The expected trading range for today is between support 89.55 and resistance 91.00 until breaching one of them . Additionally ,Today News will affect the market . Be careful because of the war between Palestine and Israel, we may witness unexpected movements . support line : 89.55 , 88.38 resistance line : 91.00 , 92.52 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
TVC:UKOIL
by Arazmajeed
4
TradePlus-Fx|BRENT: now on sell💬 Description: Oil remains one of the most interesting instruments at the moment, which is due to the aggravated geopolitical background. Metals are the same story. In our previous trading idea for oil, we assumed entering a long position with the goal of reaching level 91 . This happened, but the main idea and the more promising one - sell. At the moment, a good context has been formed to enter the short, as we need. One can consider a dynamic set of positions, since a false breakout upward cannot be ruled out, after which the price will fall even more rapidly. The target of the trade is located at the gap formation level, that is, at level 85 . 🔔 FX CALENDAR TODAY 🔔 🇪🇺Trade Balance 🇺🇸NY Empire State Manufacturing Index 🇺🇸Federal Budget Balance ➖➖➖➖➖➖➖ 🚀Thank for your BOOSTS 🚀 👇Share your views and FOLLOW US 👇
TVC:UKOILShort
by TradePlus-Fx
13
UKOIL/CRUDE OIL - PUMP to 184$\5555In this tutorial idea, I have shown a custom numerological fib that can work as a support, resistance and buffer zone for local and global trend reversal. Also Gann, which indicates reversals in the trend and all this together can be used for both global and local work. Also we see that exactly from the high we have had 5555 days for the strong decline that is happening right now, I expect a test of the buffer zone and strong support at 0.444 fibs and a reversal up. Often, if they want to make a massive dump and trend reversal, a deep call is made behind 0.333 fib and even a possible test of 0.222 fib and after a strong decline, this did not happen, we gently touched 0.333 on day 5555 and flew down. Nothing more than a local knockout and liquidity gathering before the flight due to the complicated geopolitical situation.
TVC:UKOIL
by FTT_TRADER369
1
CRUDE OIL (WTI) Your Trading Plan For Next Week 🛢️ What a pump on WTI Crude Oil. Following the geopolitical tensions, the market bounced nicely on Friday. Ahead I see a strong daily resistance: 88.4 - 88.6 area is the last resort for the sellers. If the price breaks and closes above that on a daily next week, it will be a strong bullish signal for you. You can anticipate a bullish continuation all the way up to 93.45 level then. Just remember, that first you need a breakout confirmation. ❤️Please, support my work with like, thank you!❤️
TVC:USOILLong
by VasilyTrader
13
UK Brent Oil 4H : under 86.93 will drop again UK Brent Oil New forecast The price of Brent crude futures succeeded in achieving +100 and rebounded from the 85.26 areas, and begins the day with a rise again to test the 86.93 level and attempt to hold below it, which supports the continuation of the bearish trend’s dominance during the coming sessions, paving the way for visiting the next correction level, which reaches 85.32 and 84.69. From here, we await further expected decline in the immediate and short term, keeping in mind that breaching and stabilized above 86.93 will push the price to attempt to build an ascending wave whose targets begin at 88.36. The expected trading range for today is between support 85.32 and resistance 86.93 until breaching one of them . Additionally ,Today News will affect the market . support line : 85.32 , 84.69 resistance line : 86.93 , 88.36 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
TVC:UKOILShort
by Arazmajeed
2
TradePlus-Fx|BRENT: closing the gap💬 Description: Oil quotes have been holding by buyers at current levels after the gap. The reason for the formation of the gap was the aggravated geopolitical situation in the Middle East. It should be noted that buyers even "overplaying", but there is no result, no growth is observed. In addition, it was no coincidence that the price hovered at the local level of 87.45, which is a medium-term area of liquidity accumulation. Based on the traditional our metrics, most likely in the near future we should expect a fall in order to cover the gap, as well as update local minimums. ➖➖➖➖➖➖➖ 🚀Thank for your BOOSTS 🚀 👇Share your views and FOLLOW US 👇
TVC:UKOILShort
by TradePlus-Fx
9
OIL WILL GO TO THE MOON FIRST !THE INTELLIGENCE SERVICE GAME It is IMPOSSIBLE that the intelligence services (CIA, NSA, MOSSAD, SVR, MSS, ISI, RAW, MI6...) that have invested billions and billions in monitoring "every click," every "audio" message left on an encrypted messaging platform (i.e. Pegasus), COULD NOT have been aware that HAMAS was arming itself in preparation for an operation and suddenly became ineffective! So if all the services were aware of the "scam," how did the opposing party anticipate managing this potential stumbling block? SET MOOD AND ESTABLISH THE SCENE BEFORE THE ARMS RACE BEGINS THEN COMODITIES WILL FOLLOW The internal security of a state depends on the quality of services provided by its protecting intelligence agencies The failure of Western services in prediction, but above all, the conviction that the Russians were 30 years behind, becomes glaringly evident. Otherwise a part of them knew it (CIA, MI6) and chose to misinform EVERYONE to sow chaos with the aim of boosting markets and generating demand. I always claimed this difference between USA and Russia in the fact that one are Poker players, and the others are chess players. In poker, it's not just about knowing how to lie, but also about knowing how to raise the stakes or play probabilities to determine the strongest hand on the table. The lack of information about one's potential can only be estimated through a provocation close to the borders; this is the opportunity the Americans seized in 2014 to overthrow the Ukrainian gvt. and repeat what they tried in 1936 by arming Poland (the former concept of the sanitary cordon). How can they switch from a theater of war into another ? Easy ! It is a question of manipulating public opinion as they already did in 9/11 to SAVE AMERICA from the crisis. Generally, we learn from our mistakes to avoid repeating them. And it's during an armed conflict that we delve into history to understand its origins. One must believe that only in fashion does a cyclical phenomenon exist. Without wanting to resort to sarcasm, artificially creating a conflict by using HAMAS to justify a local intervention is truly treating people like fools. The image war is primarily the one that targets public opinion at the expense of the invisible mechanisms that are set in motion, in order to make the 'pill' go down more smoothly. DEDOLLARIZATION TAKES A BACKSEAT, OIL FIRST ! Do not ignore that the USMCA (formerly NAFTA) still remains the largest consumer market ahead of the EEA. What is vulnerable or fragile for one state is an opportunity for another. The composition of teams is now known to all. The G7 against the BRICs, gradually marking the end of a G20, some countries seize an opportunity in investing in newly available areas (Africa is an example). As we observe a blatant loss of the former Western colonies, on which the latter built its wealth, it is entirely normal to see a conservative mechanism at play, detaching/tearing away the European zone at all costs to preserve the development of its own economic activity, much like a dog would defend its stake. From an objective standpoint, the Soviet Union and Europe share a similar economic framework : > A zone bringing together a group of states > Free movement of goods and individuals within it > The development of common projects using different parts of the zone > But above all, a common currency So, It took time to establish a common currency, therefore dedollarization won't happen right away And where some of them failed to stand out in creating alternatives to the dollar as they all got eliminated (HUSSEIN, KADHAFI, CHAVEZ), the probability that the BRICS succeed in this global "decentralization" becomes more and more evident. This is one of the reasons that is increasingly appealing to countries wishing to join this organisation. There is a certain logic if one looks at the geographic perspective of the 6 new members who have joined the BRICS, that it is imperative to secure the area to supply the new markets (Middle East / Africa), and consequently gain full control of the Red Sea and the Gulf of Aden (part of the BRI). Israel is merely an opportunity for the West to slow down the development of this project ! Therefore, to return to this "small" war of secret service cartels, MOSSAD (and indirectly the CIA) could not have been unaware that Hamas was arming itself progressively, but above all, qualitatively. One might even assume that it was evident to anticipate, following the abandonment of 50 billion dollars worth of military equipment in Afghanistan, just like the initiation of the Marshall Plan for Ukraine in the supply of heavier weaponry, a scenario concocted from scratch to set up this new theater of war! Something tells me that the cancelled cereal deal by the Russians has something to do with it... What are you ready to do at any cost ? www.macrotrends.net No matter the price you put into it, it will be nothing compared to the resources of governments ! In conclusion, not only have you been manipulated in a 'scam' with war images you could never have imagined seeing in 1973, but you will all watch how the price of a barrel will skyrocket and get ready to pay your "full of tank" 5 times more expensive. Russia's deputy PM NOVAK on NSE:OIL prices by year end : "Market sets the prices itself" Why? Quite simply because the geographical area of the conflict is composed of OPEC, and therefore the likelihood of a refinery receiving a 'stray missile' is very significant. As a result, the "Peace Makers" have decided to replenish their coffers to continue funding the production of ammunition... FOR THE PLAYERS : The last week close, before the busy weekend from the Gaza Strip left a gap between 84.90$ and 85.95$. There are barely 0.24$ left to close this one. The experience of 1973 raised the thermometer by over 35$ (from 28$ to 65$) initially, ultimately ending above 146$ over the decade following the conflict. 147.5$ was the 2008's ATH (we know the reason...) 138.4$ was the Russia's SMO over Ukraine, which shows the first attempt to Break the Creek Pull back above 92.63$ will trigger my Swing LONG STOP BUY > 92.63$ | STOP LOSS 79$ TARGET 1 > 147.50$ TARGET 2 > 215.32$ Just take a look of 1973-1983 chart to understand ! I don't make the rules!
TVC:UKOILLong
by UnknownUnicorn6367453
Crude oil I've been watching oil closely for the last two months. I would like to say that oil is a trending instrument, we started the decline from 95$ per barrel and fell quite rapidly until the conflict in the Middle East. all news resources said that oil rose in price on the background of this news. Technically, I was waiting for this upward correction. But if the war will really be global, the price of oil should be cheap to strengthen the US and the dollar, and these goals began to be fulfilled. In what way? I have written about this many times, that what we trade is futures oil, in the financial market, and the main players in futures oil are City Bank, Goldman Sachs, JPMorgan Chase read more Best regards EXCAVO
TVC:UKOIL
by EXCAVO
2
UK Brent Oil 4H : Under 86.93 Downtrend UK Brent Oil New forecast The price of Brent crude futures continues to move on a sideways path, and settles below the resistance at 89.45, which is putting negative pressure on the price, waiting for the resumption of the bearish tendency to test the level of 86.93, which represents our next main target, remembering that exceeding this level will push the price towards M at 84.83 and 83.80. On the other hand, we point out that breaching 89.52 will stop the current bearish correction and push the price to try to return to the main upward path again. The expected trading range for today is between support 88.63 and resistance 86.93 until breaching one of them . Additionally ,Today News will affect the market . support line : 86.93 , 84.83 resistance line : 88.36 , 89.52 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
TVC:UKOILShort
by Arazmajeed
2