Brent Cash ULOIL 24.01.2024Brent Cash ULOIL 24.01.2024
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
UKOIL trade ideas
Brent (ICE) may rise to 80.55 - 81.00Pivot
78.85
Our preference
Long positions above 78.85 with targets at 80.55 & 81.00 in extension.
Alternative scenario
Below 78.85 look for further downside with 78.40 & 77.80 as targets.
Comment
The RSI is around its neutrality area at 50%
Supports and resistances
81.60
81.00
80.55
79.60 Last
78.85
78.40
77.80
Number of asterisks represents the strength of support and resistance levels.
UKOIL will go upside but it should complete this consolidation .It's pure price Action so I am waiting for a break of up or down side but as per price Action It's upside.
Brent D1 swing trade bulls 35% buy/hold setup🔸Today let's review the daily chart for brent oil . Noteworthy bounce in progress
after accumulation near lows, speculative XABCD setup in progress.
🔸XABCD is defined by point X at 97.45, point A at 73.70, point B at 93.85,
point C (confirmed) at 76.85, point D in progress at 105.30. speculative
trade setup with advanced entry reversal at point C.
🔸Recommended strategy for BULLS: buy/hold near market, or buy dips near point
C, TP bulls is point D at 105.30, 35% gains potential (unleveraged). swing trade setup,
patience required. good luck, traders!
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Brent Oil Waves AnalysisHello Traders, Base on technical and wave analysis we see this scenario for #Brent Oil for next move. let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
OIL INDEXHello and have a good time
I trade according to these analyses
My analysis is based on fundamentals, intermarket analysis, news, geopolitical topics, and of course technical levels.
I hope it is your light
1Q2024 CrudeAt the moment, if crude holds above the 50-day MA level of $78.50, we could soon see a big move higher towards the 38.2% Fibo level of $93.37. The 200-day MA and 23.6% Fibo levels will however offer resistance to this move.
DeGRAM | UKOIL stays below the resistance at 80.00UKOIL is trading in the descending channel.
The market keeps trading below the psychological level at 80.00.
Price is basically consolidating and coiling up before expansion.
We anticipate a rebound from the resistance at 80.00.
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Share your opinion in the comments and support the idea with a like. Thanks for your support!
#Brent_oilPossible movement path of #brent_oil:
#Brent_Oil will probably grow from the support area (green) to the first resistance of $95.91 (red) until June 2024. The rest of the resistances (red) have also been identified.
#oil
#Brent
Brent Cash 19/1/2024Please 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 (ICE) may rise to 79.40 - 79.90Pivot
78.40
Our preference
Long positions above 78.40 with targets at 79.40 & 79.90 in extension.
Alternative scenario
Below 78.40 look for further downside with 77.70 & 77.10 as targets.
Comment
The RSI calls for a bounce.
Supports and resistances
80.60
79.90
79.40
79.07 Last
78.40
77.70
77.10
Number of asterisks represents the strength of support and resistance levels.
BRNUSD_4HBrent crude oil 4-hour and mid-term time frame analysis The possibility of the formation of ABC corrective wave, which is currently expected to be in wave B, and after the end of the range, it will continue to rise towards the number and range of $83 and $85 as wave C. The main and important support number and range is 76 and 77 dollars.
BRNUSD_4HBrent oil ABC wave The beginning of the rising wave C Main support $77 Target 83 and 85 dollars It's not beautiful...!
Brent UKOIL 18/1/2024Please 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
OPEC Forecasts an Increase in Oil Demand in 2024OPEC Forecasts an Increase in Oil Demand in 2024
Yesterday, the monthly oil market review was published:
→ OPEC expects global oil demand to increase by 2.25 million barrels per day (b/d) in 2024, representing a 2.2% increase compared to 2023.
→ In 2025, OPEC predicts a demand increase of 1.85 million barrels per day, reaching 106.21 million barrels per day. It is anticipated that the growth in oil consumption in 2025 will be driven by China, the Middle East, and India.
This aligns with Occidental Petroleum's perspective, where they anticipate a global oil shortage starting in 2025, as the pace of global oil demand growth is roughly four times higher than the volumes of new reserves.
However, according to Citi analysts, the price of Brent crude oil in 2025 is expected to be $60 per barrel due to oversupply.
As of today, the price of Brent crude oil is fluctuating in the consolidation zone around $77 per barrel. Market participants are closely monitoring the potential for an increase in the Brent oil price due to geopolitical tensions. For instance, Maersk has reported that escalation in the Red Sea and the Gulf of Aden will lead to disruptions in global logistics.
The Brent crude oil price chart indicates that
→ the new consolidation zone is lower than the previous one when the Brent price hovered around $81.
→ the price is near the crucial level of $73, which provided market support in 2023. At that time, OPEC+ countries announced a production cut to prevent further price decline. It is possible that they will take similar measures in 2024.
→ the rapid recovery of the price from December lows indicates the strength of demand for Brent oil below $74.
Given the provided information, if the Brent price falls below $74, it may lead to its subsequent increase.
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.
Brent oil buy opportunities Brent oil now are in a 15 supply zone I expect to go down and after that there will be a buy situation.
⚡️Strifor || BRENT-18/01/2024Preferred direction: SELL
Comment: Sell-deal by oil is also relevant. Recent events in the OPEC arena did not have a positive impact on oil, and the decline continued. At the moment, the transaction has been moved to breakeven, and part of the profit has been fixed. However, on Thursday, there is a good opportunity to take a closer look at short-term short. The main trigger for this will be the continued formation of balance.
The target for the fall of such a short-term deal coincides with the medium-term deal at the level of 72.36 . It should be noted that the instrument continues to trade near the minimum of last year, which is very dangerous for buyers since today, most likely, the long-term trend will be directed exactly below this threshold of last year.
Thank you for like and share your views!
Brent (ICE) may rise to 78.60 - 79.15Pivot
77.50
Our preference
Long positions above 77.50 with targets at 78.60 & 79.15 in extension.
Alternative scenario
Below 77.50 look for further downside with 77.05 & 76.50 as targets.
Comment
The RSI calls for a bounce.
Supports and resistances
79.75
79.15
78.60
78.23 Last
77.50
77.05
76.50
Number of asterisks represents the strength of support and resistance levels.
⚡️Strifor || BRENT-11/01/2024Preferred direction: Neutral
Comment: There is no particularly interesting situation in the medium term for oil yet, but we can say that there are still more signs of sell. After all, the instrument is in a downward global trend. The current accumulation after a small downward impulse is filled with purchases (long-orders), that is, there is a resource for moving down.
As a target, we can consider the support level of 72.36, which is the minimum of the previous year. Regarding the longer term, most likely we will see updates to this low in 2023, and then an attempt to recover above this level.
Thank you for like and share your views!
BRENT CASH #ukoil 17.1.2024Please 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 - D1Brent
D1 - Update*
After breaking through the trend line, the price was unable to gain a foothold behind the line, which may lead to further downward movement when the lower line is broken.
For shopping, nothing changes dramatically.
Globally, the levels that the price can reach are 92.04
If a downward movement is realized, the levels can be considered at a price of 63.36
What can you expect?
Long - You can consider entering from the current levels of ~79.21 or wait for the price to fix behind the trend line and then consider entering.
Cancel if the price breaks the minimum - 75.34, if you are considering the entry from W1 and the formation of a 3-wave structure, the stop can be set at the minimum of the 1st wave at the level of 72.00
Short - When the level of 75.43 is broken, you can consider selling or wait for the price to fix behind the trend line and then consider entering.
Cancel if the price breaks the minimum - 79.33
Long
Target 81.41 - 82.78 - 85.51 - 87.98 - 92.04
Short
Target 72.36 - 70.61 - 66.79 - 63.36
USDBRO - Oil Is Not Looking GoodOil is not looking good on the chart, i'm still shorting it unless $83,83 is taken out. All major indicators are bearish for oil.
