BM1! trade ideas
#BRENT - Testing top of the rangeWill Brent breakout or fall back down to the lower end of the channel again..?
#Brent - Testing bottom of the channel again. $62.45 needs to hold or we could see a drop to around $61 next.
$BRENT - Breaks out and fills the gap. Looks bullish.Brent has broken out from a small triangle and has filled the gap. Above TL support now.
Oil price big moveBRT wide corrective wave. Is possible to Harmonic pattern? Yes, it look like Deep crab when close above $75
Brent Crude Oil - New map of large flat correctionIt is possible for oil to move this way that is not popular these days as most of people waits for huge drop.
Large correction implies the strength of oil price above 100+.
It will be the second leg of the last move to finish large wave B.
Then it should drop to complete the whole structure within wave C.
What do you think? Please share your comments below
brent crude bearsBrent crud oil down at 61.99 that should be good for us here e mzansi we might get petrol decries /deprecate in price this month or next coming months
Resistance & Support levels for #Brent_OilIf the Brent Oil breaks the region of 60-62 (an authentic support region)... it can visit the region of 49-52.
Brent Crude Oil futures bearish forecastBrent Crude Oil futures bearish forecast with new supply levels imbalances being created. Brent crude oil is correcting strongly after such a strong bullish move in the past months. Bullish impulses have become corrections and now there are a few daily supply levels created on the way down after such a strong rally.
Three supply imbalances have been created on Brent Crude Oil Futures around $74, $72 and $69. Price has not retraced to them but it did retrace at lower timeframe supply levels on the H4 timeframe.
BR (Brent Oil)Possible breakout 66.5 for short selling to 63.
Buy Limit at 61.5-60
Don't take aggressive long positions!
Brent Long (BR) Medium Term AnalisysShort opportunity below 66.3.
Buy Limit 61.5, Sell Stop (SL) 59.8, Sell Lmt (TP) 66
#brent Short 67$ stop loss 68.30 take profit 60
and so the first stage for growth is care for $ 60 and then look for an opportunity in the area to enter oil prices in the medium term.
Brent Crude Oil Futures monthly demand, buy BrentBrent Crude Oil Futures has a monthly demand level located around $5038 that gained control a couple of months ago. The fact that we have had that monthly imbalance in control allowed us to make too decisions. 1) No shorts would are allowed trading against a big timeframe demand imbalance that has gained control. 2) Only longs would be allowed.
Brent Crude Oil has been rallying for a few weeks now creating a new weekly demand level around $53.91 and potentially creating a new one slightly higher around $62.00 a barrel. There is a clear long bias providing buy opportunities on Brent Crude Oil Futures, a lot margin for profit on the way up to monthly supply zone around $77.00 a barrel
We do not take into consideration any fundamental analysis to trade futures, no earnings announcements or volume, we do not need any of that to make a trading decision based on supply and demand imbalances. We just need to know where those imbalances are located and what is the bigger picture trend on the stock.
Still if you pay attention to news, in the beginning of February Oil prices have fallen after disappointing US factory data sparked fresh concerns about a slowdown in the global economy. Brent crude futures dropped 0.2% to $62.6 a barrel, and US West Texas Intermediate fell 1.4% to $54.48 a barrel. Oil prices had been buoyed by a new round of supply cuts from Opec and its allies.
Can we really make sense out of this Brent Crude Oil news? Maybe you can, but do we really need it? No we don't. Price reached a very strong monthly demand level, we are allowed to buy Brent Crude Oil but we are not allowed to sell it.
You can also use various options strategies to take longs at demand imbalances, long calls, spreads or any other strategy that you might have on your trading plan.
no major movement ahead for oil at least in first half of 2019I think the supply side for oil will be abundant, considering the fact the tepid world economy will not consume as much oil as the last decade.
growth prospects of major economies looks dim except the US. Many institutes has trimmed down GDP growth rates in the last two month, citing significant headwinds for the world, like debt, trade disputes, geopolitical uncertainties and so forth.OPEC has every intention to reach a production cut deal for its members. Yet it can't control the behavior of non member states, especially the United States, which is the biggest producer in oil and gas and has become a net exporter. By cutting production, OPEC members probably will lose market share to other big players in export market.
