The BRENT.CMD/USD pair has been trading in a medium-term ascending channel pattern since the end of December 2018. The pair re-tested the lower boundary of the channel pattern at 66.50 during last week’s trading session. As for the near future, it is likely that the Brent crude oil prices will continue to appreciate and potentially hits the $70 mark before the end...
Nice fib convergence for UK oil here! I was already bullish from previous analysis. Just noticing this. Very happy with a long position here. Exit around 71.090.
UKOIL's chart is constructing H&S pattern which you can see. Be patient and go for the long on UKOIL. :)
The down rally started on 10th of this month still continues . As per LongBuyLongSell Indicator and Profit Maximizer Indicator i am expecting this to touch 77.91 this week. On Oct 7th using the same longbuylongsell and Profit Maximizer at 86 level it was predicted that price drop ,Exactly same happened .I am still bearish as the candles are Black (Black for...
After a big rally of the UKOIL now it is time to get a downtrend .Yes the reversal has occurred as per the longbuylongsell indicator ,good move will be in the coming week. Related scripts below . Comments have more time frame charts.
Hi traders, based on the wave structure, the Brent oil might finished it's major correction in the upside as "C" wave and now falling down toward its major bottom! there is an invalidation point to this count in this chart. good luck
UKOIL Possible Buy Trade!! Looking For A Small Up-Move With UKOIL Before Making A Deeper Move Down (If It Will); A Good SL Is Around 74.3 Levels
A small range trading last week, the low side 45.15 lower than 45.50 what we expected last week. But weekly closed was in our predicted range. After 2016/06/09 created a 10 months high price-from 2015/10/13 to 2016/07/22 at 52.83 per bbl (The highest price of 2016), for one and half month, the current Brent Crude Price is forming a triangle correction. Current...
Bull and Bear take a rest here. Box moving (or Triangle development) Bear knock 300 MA(Low) for 5 times, the price still standing above 300 MA(Low). Friday closed above 10 day MA, but 5 days MA still lower than 10 Day MA. 20 MA cross lower than 50 MA. All of above message are indicating it is still in a correction status. Transaction volume coming back a little...
Watch the Next 50 cents very carefully. Oil needs to make lower lows and stay in the band. Right now all forces are pointing South Oil continues to go down on high volume. MA 50 (Red line) is below MA 200 (Grey line) China is just starting to end it's massive strategic reserve buying Iran is doubling it's production US production has gone up ...
Concerning the transaction volume was too small losing momentum, we expected a triangle development or a box range trading last week, and it was a box movement last week between 46.12 to 50.72. Transaction somewhat coming back to normal. For the past three days the transaction volume is greater than MAV5 > MAV10. But transaction volume is still less than 20 day...
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This week price hit our estimated 1st correction target and get support from previous low ( 46.97 Low of 2016/06/16), weekly closed the high side, indicate next week will test previous high 51.07 (2016/06/22). Monthly chart show a red cross, the 5 month price going up. Next week might test high side. If the test can break previous high, it forms a small W bottom,...
Is it a dark Friday? Luckily it is not 13th of the month. UK has voted exist UN impact the financial market. People and traders are somewhat panic for this event show an over reaction to the final voting result. Daily chart on Friday appear a Dark candle penetrate 5, 10, 20, and 365 MA line. But the close price is keeping well above 50 MA. The Brent Crude oil...
After satisfy a bullish wave reach 52.83 high, Brent crude oil price drop rapidly for 6 days testing 50 days moving average support area. It is still in the correction stage. The correction target look like target at Target 1: 0.236 ==> which price at 46. 75 has almost reached. Target 2: 0.382 ==> which price at 43 to 44. Bearish side are: 1. uncertainty of UK...
2016/04/23 We estimated the wave might target at 52.56. And we hold our long position and continue to aim at this target on 2016/04/29 This week the price move a high at 52.83 on 2016/06/09, it hit our target, and we liquidated all of our long position. We think the Brent Crude Oil might be in a bullish market trend right now. The big wave start, but be watch...
UKoil came down as expected - see Houston we have a problem. Currently the price is between the 50 EMA and 100 EMA. RSI is below 35 and the StochRsi is showing signs of exhaustion and diversion is coming up. The target of the Sept /Oct 2015 high is still fresh in the minds of the bulls and they had a day rest so I expect NY bulls to take charge shortly. My...