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Ukoilforecast

Brent: Watch Your Head! 🤕Brent has been climbing and climbing and climbing and has actually maxed out the space until $114.74. There, it has finished wave (A) in white, butting its head at the resistance line, and subsequently turned around to move downwards. We expect Brent to drop into the green zone between $106.12 and $99.47 to recover and to complete wave (B) in white. Then, it should start to rise again, breaking through the resistance at $114.74 this time. After finishing wave (C) in white as well as wave B in green, ideally in the lower third of the green zone between $117.78 and $133.52, Brent should turn again, heading in the direction of $97.56.
TVC:UKOIL
by MarketIntel
1
UKOIL short position selling from the 80sAs the new year begins, the markets are a little quiet but in the oil , markets seem a little confusing, Based on OPEC-JMMC Meetings we made our view on the oil market. "That's one way of looking at it OPEC plus seems confident that despite omicron spreading rapidly around the world and with cases rising it's not going to have that much of an impact on oil demand the group is expecting the oil market to be in a supply surplus in the first and second quarters" While the U.S airlines have canceled and delayed thousands of flights since 23 December 2021, The energy sector will depend on storage more than consumption in the coming period. OPEC plus is probably not almost certainly not going to actually add 400 000 barrels a day to the market because of supply problems incertain members in the oil club. I see OPEC crude oil production increasing since Jul 2020 : 24.82M bbl /d on Jul 2020 to be 28.87M bbl /d in Aug 2021 Making the oil production increase +16.31% in one year. The technical view you will see 83.00 -82.00 area as a supply area on the chart, also, 86.50 - 85.00 area is a strong historical supply area. The Market tend to sell from these areas, we may see some increase in the price shortly but in the volume indicator the average volume is in decline For the position I recommend a sell order from 83.00 -81.50 area Sell limit on 84.5- 86.5 in case the market still growing before retrograding Targets 1st target 77. 40 - 77.00 demand area 2nd target 68.40- 69.10 demand area The period of the Positon is more than 1 month up to 5 months (estimated ) This is a swing trade so be patient we estimate +16% to +20% profit for 5 months The news and numbers source coming from theoilsellers.com/ news.cn/ ycharts.com/
TVC:UKOILShort
by youssefallax
2
||UKOIL FLIRTING WITH 50.5X SELL OFF ? (CONTINUATION)We are into the 3rd week of 2021 after we had a bounce off 57 highs on oil the previous week huge trend line touch (3rd touch) crucial for a rejection to the downside with evidence of a continuation pattern( head and shoulders) with price selling off a solid 200 points as of last week Price is currently hovering around the neck of this H&S pattern and very likely to continue downwards as we head into New York session after we gained some momentum at the open. Potential targets are 1:9/10 risk reward position ,lets see how it fairs out .
TVC:UKOILShort
by da-bag
2