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BRENT trade ideas

Professional technical analysis and my own trading setup.After a long absence from TradingView, here is a new update, related to the type of analysis I do every day on US Oil and UK Oil (although this type of analysis could be done on any market available on TradingView). In this video, I provide some basic explanations, mentioning the type of indicators used and how the information is put into context, in order to trade successfully. I have now been trading US Oil for 25 years, a quarter of a century (!!), and I still love trading as much as I did on my very first day, 25 years ago. Wishing you a great week.
TLong
by Pine_Academy
Strifor || BRENT-14/03/2024Preferred direction: BUY Comment: After a very long accumulation in oil, most likely the buyer is ready for the long-awaited growth. According to the results of yesterday's trading, the price was fixed at the highs, which indicates the strength of the buyer against the backdrop of growing market sales. In this regard, we maintain a strong buy priority towards levels 86 and 87 . Both scenarios are displayed on the chart, where scenario №1 is more likely. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for boost and share your views!
TLong
by Strifor
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Brent Crude Breaks to Four Month HighsWith Brent crude reaching four-month highs, let's delve into the factors propelling this surge and explore potential trading opportunities. What’s Driving Oil Higher? A key catalyst behind last week’s breakout in Brent crude was the release of a report from the International Energy Agency (IEA), which highlighted a tightening market outlook for 2024. The IEA revised its projection for 2024 oil demand growth upwards for the fourth time since November, citing disruptions in Red Sea shipping due to Houthi attacks. However, it cautioned that the ongoing global economic slowdown presents an additional challenge to oil consumption. The IEA anticipates a 1.3 million barrels per day increase in oil demand for 2024, reflecting a rise of 110,000 bpd compared to the previous month but remaining below the 2.3 million bpd growth seen last year. Additionally, the IEA adjusted its 2024 supply forecast downward, now expecting oil supply to climb by 800,000 bpd to reach 102.9 million bpd this year. The Breakout: Transition from Contraction to Expansion Brent crude has been carving out a series of higher swing lows on the daily candle chart since the turn of the year, but the market had been contained beneath a key area of resistance created by the October 2023 swing low and November 2023 swing high (see daily candle chart below). This series of higher swing lows into horizontal resistance created an ascending triangle pattern. As prices were funnelled into the apex of the pattern, a tight sideways range developed in late February early March. The breakout last week relieved the market pressure, transitioning Brent crude from contraction to expansion. Brent Crude Daily Candle Chart Past performance is not a reliable indicator of future results Hourly Candle Chart Analysis Drilling down to the hourly candle chart reveals that Brent crude has broken above last week’s highs during early European trading. This is a bullish sign and underlines the current level of momentum in the market. Using lower timeframes in conjunction with higher timeframe breakouts is an interesting approach to crafting potentially insightful trade setups. Brent Crude Hourly Candle Chart Past performance is not a reliable indicator of future results Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.01% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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by Capitalcom
UKOIL MARCH WEEK 4 OUTLOOKDaily - looks super bullish but in need of pullback. a single bearish day will do. volume has been drying up as we move to the long side. so we need a pullback and volume to start flowing in. Origin - outside value month means high probability of chop week. looks extended here too. ideally I would like price to pull to **84.63 - 83.36** or a deeper pullback to **83.36 - 82.01** will be even better. I will get involved in longs only once we observe a pullback and then see oil regaining strength on volume.
TLong
by Osiris992
UKOil Looks Bullish**Monthly Chart** UKOIL last month's candle closed bullish after it tested the demand zone in Dec 2023 around 70 levels. This suggests a continuation of the bullish trend at least to test the MC around 95 level. **Weekly Chart** Last week's candle closed bullish after Breaking the recent weekly high at around 84 level. The price might continue moving higher to at least test the liquidity pool at around 88 levels. There is a high probability chance that UKOil will continue the up-move for this week. **Daily Chart** Last two weeks there were good buying opportunities and USOIL broke the high of the range. This week will continue to look for buying opportunities if the price moves below 84.00 level with next target around 88 level. If the price does not sustain the move and starts showing reversals then we will look to sell it instead.
TLong
by PropSignals
The idea of a bull market in oilGreetings Dear analysts and traders, I hope you are doing well and are motivated for the week ahead. I wish you all the success in your business endeavors. Remember that success in trading lies in consistently defining and sticking to your rules. As someone interested in the Elliott Wave Principle, I find it to be an invaluable tool for market analysis. I have developed my approach by combining this principle with my personal experience and by considering different scenarios that are likely to occur in the market. It should be noted that I do not like to be surprised in the market, and that's why I have different market prospects. I follow them to be sure and recognize the structure that is forming so that I can 100% recognize it. I will share my analysis with you, but please note that I am not providing any buy or sell signals. My perspective on idea analysis is completely unbiased, so if the idea analysis meets your standards, you can use it as a guide to make an informed decision. I have attached my previous analysis of the same market so that you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand. However, having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily. I have been studying the Elliott Wave Principle for almost three years now, and over time, my understanding of this knowledge and experience has grown. What I have achieved so far is the legacy of a genius called Ralph Nelson Eliot, and I am really happy with my progress. May peace be upon him. Thank you for your support so far. I will always remember your kindness. Please share your comments and criticisms with me. I hope my analysis will be useful to you in your business journey, and I wish you all the best. Sincerely, Mr. Nobody The idea of a bear market in oil
FLong
by Mehdi_Abbasi_EWP
Brent Oil Getting Into A SqueezeLooking at the technical picture of EASYMARKETS:BRTUSD on our daily chart, we can see that the commodity is currently trading in a small range, roughly between the 81.83 and 83.98 levels. At the same, on the bigger picture, the price remains between two trendlines: a short-term upside support line taken from the lowest point of December 2023 and a downside resistance line drawn from the highest point of September 2023. This means that the pair is slowly getting into a squeeze. Although we might see some strong movement in-between the two trendlines, we would prefer to wait for a breakout first, before examining the next short-term directional move. A push through the upper side of the aforementioned range and a break of the previously discussed downside line would also place EASYMARKETS:BRTUSD above the 83.98 barrier, possibly attracting more buying interest. A forthcoming higher high would be confirmed, potentially clearing the way towards the 87.87 zone, marked by the highest point of November 2023. If the buying doesn't stop there, the next aim could be at 89.58, which is the inside swing low of 19th of October 2023. Alternatively, a price-drop below the lower side of the range and a break below the short-term upside line may set the stage for a move to lower areas. EASYMARKETS:BRTUSD could then fall to the 79.44 territory, a break of which might open the door for a move to the 76.64 level. That level marks the lowest point of February. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
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by DariusAnucauskas