Oil PutsLooks like black gold is headed south after completing bearish pennant. First demand zone isnt likely to hold the price and will probably drop it to the next demand zone.
Let me know what you think.
BCOUSD trade ideas
Oil analysis 1 HOil analysis on the hourly time frame. Oil is trading in an upward trend, and we are waiting for oil to retest the rising trend line and the demand zone.
Strifor || UKOIL-10/20/2023Preferred direction: SELL
Comment: Yesterday, oil still showed growth and we were forced to exit with a stop loss. However, the priority of sales remains and today once again we are considering sales from current prices with a target of 90.72 and even with fixation below.
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OIL EW COUNT (potential hedge against recession)Just a EW count on OIL
Personally I dont think there is huge upside on OIL, but if we get a nice pullback towards the $50-$47 area, could be worth it to take a position and hold it for few years especially if markets get choppy volatile and give off massive dumps - please check my analysis on SPY: and NDX:
I will provide a more in depth analysis on these important charts over the next few weeks as markets print and provide us more clarity.
Brent Crude Speed LinesI'm going for Speed Lines combined with Fibonacci retracement tool. Price is at a level of importance previous support now resistance. Uncertainty is our game so we should anticipate all possible moves the price can take and then trade the move with the highest probability. With what is going on in the world and social media still expecting Oil to go to $100 my bias is bullish. at least for now.
OIL UPGiven the circumstances and technical looks, BRENT is about to sky rocket as it seems. This is a high probability trade for futures and option enthusiasts.
BUY BRENT for uptrend continuation update
BUY BRENT NOW ✅
STOP LOSS : 88.25
TAKE PROFIT : take profit will be when the trend comes to an end and will be shared with my vip members .
Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Crude Oil: Planning Strategies Today
Through the analysis of the hourly chart of crude oil, we know that the market rose first and then fell yesterday, forming a shock upward breakthrough trend yesterday. By comparing with the previous period, we already said last week that we expected to form a bullish trend. When the high level fell in the early period, all the moving averages began to turn around. The downward movement forms a turning point from bull to bear. From the formation of a wave of decline, all the moving averages have formed a bull trend. All the moving averages below are supports, and the MACD below has always been running above the zero axis. The market is very likely to make further upward breakthroughs. In terms of operation, we continue to think high and low and focus on going long on dips and shorts. The specific suggestions are as follows:
Crude oil 90 and 91.50 are long respectively.
Crude oil is short at 95.0 and 95.6 respectively.
Strifor || UKOIL-10/19/2023Preferred direction: SELL
Comment: After the rally in oil, prices are most likely ready for a correction. The downward correction is expected to continue. Positions are considered from current prices with a view to approaching level 88. Presumably, after which there will be a pause and a likely continuation of the fall.
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XBRUSD POTENTIAL BULLISH MOVEXBRUSD prints more bullish price action as it currently trades at 89.55 . from H1 perspective, it could trade upto 90.88.
On Factors Influencing the Price of Oil: Biden, Israel, VenezuelPushing off the lower boundary of the ascending channel, the price of Brent oil rose by more than 8% amid fears of an escalation of conflict in the Middle East, which should pose a problem both for the US economy, which suffers from high inflation, and for President Biden personally on the eve of the elections.
The situation is aggravated by the fact that oil reserves in US strategic storage facilities are near minimums since 2014. That is why:
→ it can be assumed that the goal of containing the rise in oil prices was one of the motives for Biden’s visit to Israel on Wednesday. It is expected that the price of oil may be affected by Biden's speech from the Oval Office, scheduled for Thursday evening 20:00 ET (or Friday night at 03:00 GMT+3);
→ the United States has eased sanctions against Venezuela, which has the largest oil reserves in the world.
From a technical analysis perspective, a rally from the October lows (B) after a decline from the September highs (A) may confirm that important divergent drivers are battling in the market.
The Brent crude oil chart shows that:
→ resistance is provided by the median line of the ascending channel;
→ resistance is also observed from the level of USD 91, which served as support in September;
→ the presence of selling pressure is also evidenced by the long upper shadow on yesterday’s candle.
However, will the resistance be able to hold out if the situation in the Middle East, which provides a third of world oil consumption, continues to escalate? According to Bloomberg, there are concerns that Israel's expected ground offensive on the Gaza Strip could provoke a more aggressive response from Iran-backed Hezbollah in southern Lebanon and perhaps from Tehran itself.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
xbrusd
📣 Based on the chart structure on the 1-hour timeframe, the price is currently in a downtrend. If the level of 88.00 is broken, it may present a buying opportunity with a target at 91.00.
⛔ Stop Loss: 86.00
Oil: Bullish Momentum Continues on Supply Disruption ConcernsTechnical Analysis
15-minute chart:
On the 15-minute chart, Brent oil is currently trading in a bullish uptrend. The price is above the 20-period and 50-period moving averages, and the MACD indicator is above its signal line. This suggests that the bulls are in control and that the price is likely to continue to rise in the near term.
4-hour chart:
On the 4-hour chart, Brent oil is also trading in a bullish uptrend. The price is above the 20-period and 50-period moving averages, and the MACD indicator is above its signal line. However, the RSI indicator is nearing overbought territory, which suggests that a pullback may be due in the near term.
Daily chart:
On the daily chart, Brent oil is also trading in a bullish uptrend. The price is above the 20-period and 50-period moving averages, and the MACD indicator is above its signal line. The RSI indicator is also in neutral territory, which suggests that there is no overbought or oversold condition.
Overall, the technical analysis suggests that Brent oil is likely to continue to rise in the near term. However, investors should be aware of the potential for a pullback if the RSI indicator enters overbought territory.
Trading Strategy
Traders who are bullish on Brent oil could consider buying the dips. A stop loss could be placed below the 20-period moving average, and a take profit target could be placed at the next resistance level.
Traders who are bearish on Brent oil could consider shorting the rallies. A stop loss could be placed above the 20-period moving average, and a take profit target could be placed at the next support level.
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This analysis is based on the information at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
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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 .
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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.
Crude Oil 88.549We'll be watching the 88.549 level.
Price action above this level represents a Bull Bias, hence focus on Buy Entries/Setups.
DeGRAM | UKOIL fibo cluster levelUKOIL is moving to resistance at 91.00 and a fibo cluster.
The price printed the AB=CD pattern.
The oil market is approaching major resistance and fibo golden zone on the 4H chart.
We anticipate a reversal from the resistance level.
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Brent long term channelThis is an update of the previous chart , potential 260$ target according to this pattern
US Oil Long Trade - SL Previous Swing LowMany Fibonacci and Harmonic Confirmations
Bullish - Butterfly Harmonic ,
With Expanded Flat ABC Elliot
C = 1.618 A
1.618 AB = CD ( PRZ As per AB=CD Pattern )
0.50 Retracement Levels
Trade at your own decision , I'm not a financial adviser.
Brent Oil Short Trade Consideration(1)We are looking at Brent oil for a potential short trade only if the following occurs:
1.Wait for Daily bottom to confirm
2.Then for top to confirm before taking shorts till Weekly Confirmation Bar
low is taken out at 83.46
**We will only be considering this short trade for a very small period as Weekly is in Uptrend**
We will be tracking this move and updating the post as we go along on the charts and on video. Keep a look out for it traders.
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Refn weekly Image
Oil Brent - H4Oil Brent
*Updating the idea and how to act*
Long - ABC correction structure has come to an end - You can observe an impulse rebound after the fall, which can lead to further growth and the 5th wave on W1
The nearest target is at 95.90
This scenario is best used to exit the triangular formation on H4 when the level of 87.85 is broken - with the cancellation of this movement and without increasing risks if the breakout turns out to be false at the level of 85.09
Short - If the price does not continue to move upward, and this was a full-fledged reversal, in the continuation of the 5th wave on D1, the nearest targets will be at the level of 74.30
In this scenario, you can consider selling from the level of 85.09 - with the cancellation of this movement and without increasing risks if the breakout turns out to be false at the level of 87.85.
What to expect now?
Waiting for the breakout of the level for Long - 87.85, local target 95.90 - 98.10
When opening a position, it is best to exit the position from the level of 85.09, if this scenario does not materialize.
Waiting for the breakout of the level for Short - 85.09, local target 77.77 - 74.30
When opening a position, it is best to exit the position from the level of 87.85, if this scenario does not materialize.
Long
Targets 90.17 - 92.49 - 94.63 - 98.10
Short
Targets 82.28 - 79.30 - 77.77 - 74.30
UK oil worst scenarioI gave a look to monthly chart, we can se a falling wedge broken , a retest of the upper trendline , according to the pattern Brent should rise at least @ 188$ area but we could reach 260$ target too if the rise will not stop to 188$ , forming a cup and handle pattern
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.
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