BRENT trade ideas
bcoiloil is bearish.
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ukoil shortukoil Ascending channel just got completed on the 4h timeframe so now we looking for sells long term
Gold and chartjust look and see what is reallity.
i start trading a year ago .i approach really good method that i think it works.
Brent - technical profile.Brent oil updated the previous maximum. It has not gone far yet, and now further prospects are being determined. The support at 86.32 is likely to be tested in the near future. If it holds up, further growth will be possible.
The Price of Brent Oil Approaching the Highs of the YearThe price is driven up by:
→ the policy of limiting oil production by OPEC+ countries. For example, Saudi Arabia last week announced a cut in production by 1 million barrels per day until the end of September, adding that the decision could be extended. Russia is also reducing production volumes. We wrote about the scenario of increasing growth in the price of Brent oil due to production cuts in a post dated July 7;
→ hopes/rumors that the Chinese authorities will stimulate the economy, which is not recovering enough after the lifting of COVID-related restrictions.
Selling pressure is driven by:
→ raising rates by Western central banks to fight high inflation.
Under the influence of these and other factors, the price of Brent oil rose close to the highs of the year around USD 87 per barrel, forming an upward channel. At the same time, in August, the price bounced strongly from its lower border twice, indicating the strength of demand. On the other hand, the progress of the bulls in the formation of the August high is very small, if you compare this peak with the previous one, set on the 2nd of August — a sign of the exhaustion of the bullish momentum.
It is reasonable to assume that the market can find a balance at current levels, and the price will enter the consolidation range, as holders of long positions can take profits after the increase in the price of Brent oil by more than 14% since July 1. At the same time, false breakdowns of the high of the year are not ruled out.
Important levels:
→ USD 87.15 – resistance of the high of the year;
→ USD 86.45 – resistance from August high;
→ borders of the ascending channel.
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Oil, as expected, did not hold above 86.As I suggested yesterday, and suggested in earlier posts, oil failed to stay above $86. It seems that in order to break out of the existing corridor, some additional incentives will be required.
UK OIL BRENT 4H OUTLOOK BRENT OIL
to be bearish should close 4h candle under 82.71 then will confirm the downtrend till 80.10
otherwise stabilizing above 83.50 will be bullish to reach 85.17 gradually
pivot price: 83.50
resistance price: 84.40 & 85.17 & 86.05
support price: 82.70 & 81.60 & 80.10
Brent oil will move between 83.50 and 85.17
Oil jumps.Oil quotes rose to a four-month high and it seems that growth has lost momentum. The increase came amid the decision of Russia and Saudi Arabia to cut production. An interesting question is whether the growth will continue. I would venture to share my opinion - I think the growth will not continue. But it is not exactly)
Countertrend long after heavy sellingWe are still in downtrend, but still a lot of buy orders residing in the blue demand-area. Expect 50% FIB- rally from last high-low, followed by pullback to demand-area and then explosive upward move to upper supply.
Brent oil forecast came true. But the profit will not be big.Yesterday's analytics on technical levels for Brent oil turned out to be successful. After the breakdown of the resistance level, the quotes moved up as expected. But growth will probably be limited by the level of 86.
BCOUSDHello
Buy
Analysis of Brent oil
The support of the $80 range is important
With the market breaking the trend line, this low can now be considered a pullback, and by maintaining the support of $80, it will continue to rise towards $99 and even $106, which is the main target.
Brent - key levels.The picture with technical levels for Brent oil now looks like this:
current quotes are between two levels - support at 82.60 and resistance at 84.80. It seems that the breakdown of any of the levels will decide in which direction the next movement will be.
How long can the oil price rise? How long can the oil price rise?
It’d be quite possible to see an extended uptrend with Brent retesting $97 later this year if sentiment in markets remains generally positive and fears of recession don’t clearly return. Oil can often trend for quite a long time compared to other popular CFDs, so if this is indeed a new main uptrend it might continue into the fourth quarter.
However, sentiment will almost certainly change to some degree when significant activity returns to markets in September. Negatives for crude fundamentally include weaker economic data from China in recent months combined with Russia’s avoidance of sanctions by exporting through Saudi Arabia, though the latter specifically and OPEC+ generally seem to be determined to keep prices high.
Equally, January’s high around $88.40 might be an important resistance which could resist testing. The main goal as a trader of oil during seasonally low volume is usually to avoid entries at extremes while trying to use support, moving averages and others to determine when a retracement becomes short-term downtrend.
ukoil 8hours sell side 15% swing trade setup🔸Today let's review the 8 hour chart for brent oil . Noteworthy bounce in progress
after accumulation near lows, however currently getting overbought.
🔸OPEC production cuts finally kicked it, therefore we got a decent pump in the oil
market. Strong resistances overhead near 87.20 and 89.20, expecting bull trap setup
after we break above the stop loss clusters.
🔸Recommended strategy for BEARS: look out for bull trap setup near 90.60 and get
ready to short sell from overhead. limited upside beyond 90.60 usd, bears will target
re-test of mirror s/r level at 77.80 and 75.20 usd. this is a 15% swing trade setup
on sell side, good luck traders!
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BRENT OIL 4H (downtrend till 83.50)BRENT OIL
Brent oil can reach the resistance we mentioned in the previous idea which is 85.30
and now can be stabilized under it so will try to drop till 84.00 and 83.50
but stabilizing above 86.04 then will start the bullish to get 87.70
pivot price: 85.30
resistance price: 86.04 & 87.00 & 87.70
support price: 64.00 & 63.50 & 82.70
Brent oil will move between 86.04 and 83.50
Xbr/UsdHello traders!
Wait for the break to enter the trade! Be careful!
Don`t forget to look at the economic calendar!
MAKE MONEY AND ENJOY LIFE 💰
THANK YOU!
GOOD LUCK!
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#oil #short #usdI just drew 2 lines in the simplest way and it gave me this position, we have suffered in this limit in the past and the ceiling is strong.
Brent long term viewIn my view Brent will retest broken big descending traingle so I expect price retest 55-60$ area before restoring long term main bullish move to tp1 165$ and tp2 181$ in next 2 years
DeGRAM | UKOIL fibo cluster levelUKOIL is moving to resistance at 86.00 and a fibo cluster.
The price is printing potential of the AB=CD pattern.
The oil market is approaching major resistance on the D chart.
We anticipate a reversal from the resistance level.
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Oil Flirting with Sell off Oil due to heavy pressure due lack of demand even after opec cut its production its still not clear for a rebound on oil markets... for moment... oil is a sell with pressure down...60 ahead... never know for moment its a sell follow the trend
Oil/brent/crude trend upBrent crude oil has been in a long term channel since middle 2022... now for traction and direction of its trend is up... for moment. Better safe then sorry!
