#BRENT Oil The Set Up For A 97 TestIn this update we review the recent price action in Brent crude oil and identify the next high probability trading opportunity and price objectives to target
PAST PERFORMANCE NOT INDICATIVE OF FUTURE RESULTS
BRENT trade ideas
day trade ideaHi I found this level of an refined OB from h4 all the way down to m1that makes convergance with the 25% of the premium wick from h4 and h1. I suggest to look up for the trade on the kill zones. Cause if its outside of it its possible to not see a good movement
blue: h4
green:h1
red: m15
pink: m5
UK OIL Analysis 13/09/2023UK OIL Analysis 13/09/2023
The entry, exit and stop loss points are on the chart, please make sure of them and do not risk, this is our analysis and ideas.
Please observe the capital carefully and do not risk more than 1% of your capital
Good luck to everyone
Brent Crude Oil [Update]My comment last night via my research note, Tuesday 12-Sep-2023, 20h59
Brent Crude Oil. We have seen a significant move over the past 9 weeks, with Brent higher from $75 to $92. The short term trend is strong with the commodity recently having cleared resistance of a 9-month base. While the trend is up, traders should are alerted to the momentum indicators which may indicate the price nearing overbought conditions, with the 7-day RSI at 80 and the 14-day RSI at 73. In the short term, the buy/long side reward-to-risk is becoming less appealing vs prior weeks.
(The insert highlights my view on 03 July which was also accompanied by several energy ETFs. Since then, the energy sector has outperformed each of the other 10 major sectors in the S&P).
For more research insights, including trade ideas, get in touch with me today.
UK-OILUK-Brent-Oil
Tactically
UK OIL generally direction is uptrend
so now, as long as trade is above 90.35 and 89.94 it will be rising to get 92.01
about downtrend should break 89.94 and stabilize under it by 4H candle and then will get 88.92 under it 87.34
Tendency: uptrend
Entry Price: 91.25
Brent - technical profile.There is a new local maximum on the oil chart. And as a result - new technical levels.
Resistance 3 - 92.88
Resistance 2 - 91.94
Resistance 1 - 91.17
Pivot point - 90.23
Support 1 - 89.46
Support 2 - 88.52
Support 3 - 87.75
I still consider level 87 to be the target of the current movement. Due to the fact that changes on the chart have been happening quite rarely lately, something tells me that I will have to be patient.
Brent, Technical AnalysisThe uptrend for Brent (UKOIL) remains clearly active for the moment although consolidation in the next few days seems favourable. ATR is very low around $1.65 and hasn’t picked up from summer’s lull, while the slow stochastic at 91 is in the zone of buying saturation. The upper band of Bollinger Bands (50, 0, 2) might continue to function as a dynamic resistance into next week.
For a new buyer here, finding an entry might be challenging because it’s not clear when a significant retracement might occur or what its extent might be. The 161.8% monthly Fibonacci extension based on 2020’s crash seems to have been broken for now, but waiting for the moving averages to catch up would traditionally be seen as sensible. Buy limits might be an option around the penultimate high slightly above $87.
However, American inflation coming up on Wednesday 13 September at 12.30 GMT is a key release for how it’s likely to drive the dollar. Equally, traders will analyse the IEA’s monthly oil market report due the same day at 8.00 GMT. Finally next week among major releases there’s Chinese industrial production for August early on Friday 15 September at 2.00 GMT.
If that misses the consensus of 4%, there might be some downward pressure and possible opportunities to sell in the short term or find a place to buy looking further ahead. One should also remember the possibility of a gap over the weekend and check regular stock data from the USA.
BRENT OIL ( UK OIL ) LONG term Trade AnalysisHello Traders
In This Chart UK OIL HOURLY Forex Forecast By Forex Planet
today UKOIL analysis 👆
🟢This Chart includes_ (UKOIL market update)
🟢What is The Next Opportunity on UKOIL Market
🟢how to Enter to the Valid Entry With Assurance Profit
This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
Crudeoil/Brent ready for downside move For all trade based on my trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
UK OIL BRENT OIL
The price of the BRENT OIL stabilized at the bullish zone and from there 88.16 will touch 91.43 and above it at 96.45
Otherwise for any reason stabilizing under 87.29 will support falling to 85.95
Pivot Pivot: 88.16
Resistance Price: 91.43 & 96.46
support price: 85.95 & 83.53
Brent oil will move between 87.30 and 91.40
Brent \ Oil - AnalysisOil Brent
MN - The price has broken through the trend line at 87.51, which may indicate the beginning of an upward movement.
W1 - We are observing a retest after the triangular formation and a breakout of the level of 87.51; for the price to move further upward, it is necessary to wait until the price consolidates at this level, which will open up the possibility of moving to the level of 108 - 125
If the price does not fix at the level of 87.51, we can expect a continuation of the downward movement with a target to the 71 price level
What can you expect now?
When moving up, the nearest target is 99.34
When moving down, the nearest target is 81.64
Long
Targets 99.34 - 108.94 - 125.09
Medium term - targets 92.34 - 94.87 - 99.34
Short
Targets 81.64 - 76.52 - 71.27
Medium term - targets 85.40 - 83.79 - 79.81
Brent - I expect quotes to decline in the short term.Based on the fact that over the past two days there have been two unsuccessful attempts to pass level 91 (it is quite possible now there will be a third attempt), I assume that brent oil will be under pressure in the near future. In all likelihood, at the level of 91, large players closed long positions, and in this case, they probably did not even think about overcoming it. As for the decrease, at first I think we will reach 88.17, and then quite likely to 86.
UK US OIL Did it see the upmove ?Recently posted here that oil is gonna have upmove the same had happened .
Now what is next
As you see this in the chart ,It is clearly in the consolidation
After the consolidation price must go up or down ,Looking at the chart i see this will go down rather up.
BRENT OIL ( UK OIL ) LONG term Trade AnalysisHello Traders
In This Chart UK OIL HOURLY Forex Forecast By Forex Planet
today UKOIL analysis 👆
🟢This Chart includes_ (UKOIL market update)
🟢What is The Next Opportunity on UKOIL Market
🟢how to Enter to the Valid Entry With Assurance Profit
This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
Oil may jumpThere uncertainty in Russia and relation between kremlin and Wagner is sour, this can results in high volatility and specially on energy sector and precious metals.
If the situation is not contained quickly, I believe that on Monday the price of the oil will jump due to uncertainty, it might reach 85-90.
Please be careful with volatility
Ukoil :)I entered a trade as the price retraced, and I noticed several factors confirming my decision. SMARMCDX suggests that institutional traders are in control, and the EMA 50 indicates a strong uptrend
Oil to see Up moveAs there is fresh long candle formed ,Oil will continue to have momentum in the long side.
Brent - dubious growth.Everything looks really as if the buyers were going to accelerate to 90, and maybe even higher. But I have some doubts and have not made any purchases yet. I prefer to focus on the classics. And I didn’t see the classic test of the recently completed level. Therefore, I doubted. Of course, it is possible that it will only be in the near future. The probability of a rollback is also indicated by the fact that the technical resistance levels drawn on the chart yesterday noticeably interfere with growth, and it may turn out that the next closing prices will be very close to the first resistance of 89.60 or even below it. Which will be the beginning of a rollback to support around 86.
UK OilUK Oil
Tacticaly
The new uptrend movement started already.
for now, maybe do a retest till 87.29 and then will start the rising to get 89.89
anyway, to be bearish trend should touch 87.29 by closing 4H candle under it
Tendency: uptrend
Entry Price: 88.39
UK Oil SelloffHere you can see on the daily TF. The sell has already started after hitting an orderblock, Also on the 4hour TF you can see that the trend is being respected. I see oil going back to highs but first we must "sweep the floor"
