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Ukoilforecast

Brent Crude (UK Oil) moving lower this week**Monthly Chart** Brent Crude (spot) - UKOil, last month's candle closed lower after testing the previous month's key reversal, this indicated that UKOil is going to continue its move lower. This month's candle which is still active, has opened from the bearish closed candle of May and started moving lower. However, the pair is moving within a long-term range as per the monthly timeframe. **Weekly Chart** Last week candle opened lower. However, it paused around the 77 level, the previous demand zone then moved higher to the 82 level (round number) and rejected it. Therefore, the expectation as per the weekly chart that the move will be bearish for this week. The next target to be tested is the monthly low around the 72 level. **Daily Chart** As per the daily, the price tested the relative equal lows on the daily and started moving higher. However, due to NFP last Friday, the price started moving lower after testing the FVG (or IPA) candle around 82 level and then started moving lower. For this week, I would like to see more price action to provide a good setup to sell this UKOil and move it to test the 72 level given the change in market structure in the lower timeframes.
PEPPERSTONE:SPOTBRENTShort
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 tradingwithanthony
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 tradingwithanthony
UKOil Brent Technical Analysis And Trade IdeaIn this video, we embark on a comprehensive analysis of UKOil, with a specific focus on the prevalent bearish sentiment observed in the 1-month (1M) and 1-week (1W) timeframes. Notably, our charts reveal that Brent has approached a critical support level, a pivotal juncture. Throughout this presentation, we delve into the fundamental tenets of technical analysis, encompassing essential components such as evaluating the current market trend, price dynamics, market structure, and other indispensable aspects of technical analysis. As we progress through the video, we meticulously scrutinize a potential trading opportunity in Brent Oil. It is imperative to stress that the insights shared in this content are exclusively intended for educational purposes and should not be misconstrued as financial advice. Participating in the foreign exchange market trading carries a significant level of risk. Therefore, it is vital to prudently incorporate robust risk management strategies into your trading plan to navigate these challenges effectively.
TVC:UKOILShort
by tradingwithanthony
UK Brent Oil 4H :New forecast UK BRENT New forecast The price of Brent crude futures opened today's trading with a strong decline, breaking the support of the ascending channel and settling below it, which may put pressure on the price to conduct a new downward correction. Its targets begin by testing the 91.00 level and extend to 89.55 after breaking the previous level. On the other hand, we notice that the price stops at the support of an ascending secondary channel shown in the image, and the moving average 50 meets at this support to add more strength to it, which may contribute to pushing the price to return to the main ascending path again .so stability above 92.52 postponed the bearish attempts . The expected trading range for today is between support 91.00 and resistance 92.52 until breaching one of them . Be careful because of the war between Palestine and Israel, we may witness unexpected movements . support line : 91.00 , 89.55 resistance line : 92.52 , 94.00 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
TVC:UKOILShort
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
Need a low pump up! As it shows white trend line is strong support from early days 1860 and I do not think it will break another time (except new COVID disaster) , so we should face a bit move up trend maybe to make double top and then come back to support trend line for another confirmation not to far ( maybe less than 1 year ) and then how knows a huge pump up with strong break on its historical top resistance price 147 maybe!? I myself accept this scenario instead of break down the very long term white trend line and see lower price around 40 or even lower ?! How do you think???
TVC:UKOILLong
by AtareumFX