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Oil - Brent (UKOIL)

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OIL_BRENT trade ideas

The Price of Brent Oil Rises After Saudis’ DecisionIn 2022, a downtrend began in the oil market (shown by the blue channel), which is unfavorable for producing countries. When the price of Brent crude hit USD 72/BBL in March (1), OPEC+ countries announced production cuts, causing the price to soar towards the upper channel boundary. But the downtrend did not stop. Last week, the price of Brent crude again reached USD 72, which led to the announcement of the Saudis to cut production. On June 1, we wrote about the warning of the Minister of Energy of Saudi Arabia to market speculators to “watch out,” which led to the formation of a rebound (2) from the indicated level. On June 4, the warnings ended and the Saudi Ministry of Energy officially announced that the country's production would fall to 9 million bpd in July from about 10 million bpd in May, the biggest decline in years, according to Reuters. On Monday, May 5, trading opened with a bullish gap as Brent crude approached the USD 77.7/BBL level that acted as resistance in May. “This market needs stabilisation,” Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud said at a press conference. Suppose these words describe what could happen in the market before the end of the year — the entry of the price of Brent oil into a trading range, the lower limit of which will be the level of USD 72 per barrel, so persistently defended by the miners. 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.
FXOPEN:XBRUSD
by FXOpen
1
BRTUSD H4: Bullish outlook seen, further upside above 75.50Price is hovering above a key support zone of 75.50 on the H4 timeframe. A throwback to this zone, which is in line with the 78.6% Fibonacci retracement, could present the opportunity to ride the bounce to the resistance zone at 77.50, which coincides with the 61.8% Fibonacci extension level. Price is holding above the Ichimoku cloud and Stochastic RSI is in the oversold region below 20, supporting our bullish bias.
EASYMARKETS:BRTUSDLong
by T3-Consultancy
We will never see such prices for European stocks again...European indices have been reddening for several days in a row. European Euro Stoxx 50 fell only -3% from the high, but this is just the beginning of a big drop and I will tell you why. Since the beginning of year, European indices have shown very good growth, which is not entirely supported by fundamental factors. Yesterday, on the channel, I already drew attention to the difficult situation in the German industry (the German economy is already in recession and will only deepen into it), but this did not prevent DAX from updating its historical maximum! It is very strange, because Germany is still famous for its industry, and not for the IT sector... Now the technical picture says that there are serious reasons to believe that the growth in European markets has come to an end. There are serious signs that the French TVC:CAC40 index has reversed. There were large sales in the shares of the leaders. Someone "big" got out of the market. Today the decline continued. Do not forget that inflation in Europe is higher than in the US, which means that the ECB will raise the rate even more and even more choke the economy, which can not stand it now! While in the US they are already talking about a pause in raising the rate. The chances of a return to the highs are melting right before our eyes. TVC:SX5E are doomed to fall… 🔰 My recommendation: If you have European shares - sell them. Then say thank you for saved capital. You can find even more useful analytics in header of my profile 🎩 If you are interested in analysis for other assets - write in the comments which asset you need to see.
BLACKBULL:BRENTShort
by Dorado_Crypto
DeGRAM | UKOIL short opportunityUKOIL market shows divergence, and if the price closes below 78.00 by printing a double top , then we can look for a selling opportunity. If the price breaks and closes below the 77 support level, the market will most likely go down. We anticipate a down trade because the ascending channel is a pullback against the major bearish trend. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
TVC:UKOILShort
by DeGRAM
4
BRENT CRUDE OIL FUNDAMENTAL ANALYSISCrude oil: gaining on lower inventories While the broader macro conditions remained complex as hawkish Fed speak and debt ceiling deadlock weighed, crude oil prices managed to inch higher and start the week on a positive note after heavy selling both in paper and physical market over the last few weeks. Supply side news remain mixed with Russian exports remaining firm while OPEC’s early April production cut is only now starting to be felt. Extreme heat across Asia has ramped up demand for fuel oil to run air conditioning and lights while oil traders will be on alert for comments scheduled later today from Saudi Arabian Energy Minister Prince Abdulaziz bin Salman at the Qatar Economic Forum, especially following the recent jump in short selling by funds to levels seen before the April 2 production cut.
OANDA:BCOUSDLong
by thunderpips