BCO Whipsaw Bias1. BCO could be doing a Whipsaw.
2. Waiting for the correct rank of correction sets up r:r for the motive waves.
UKOILSPOT trade ideas
DeGRAM | UKOIL continuation of trend at weekly lowUKOIL is trading in the descending channel. Even though the market is bullish on the daily chart.
The market printed the pinbar at strong resistance.
The market is making a pullback on the larger scale of the bullish trend.
We anticipate buying opportunity at completion of the AB=CD pattern at 91.00, which is a previously weekly low.
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Brent pullbackBuy, buy, and buy... But make it risk free when in profit...
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About the analyst:
Gerald Mann was born Mr. Peiman Ghasemi on February 16, 1988. After a long while of diplomatic cooperation as an adviser to Barack Obama, and as a veteran; but, finally, unfortunately he got deported from Turkey to Iran. While, in fact, he was praised by Barack Obama in 2014, but they refused to help him to become an American resident, and he never achieved his true right of being a U.S. citizen.
Lately, not too much unusual, he was bothered by a group of traitor high ranked officers... And, lately, in fact, he is threatened nowadays by a few groups of international rebellion and unmerciful officers, and several pretty high ranked international officers... And he was confronted to those nasty agents whom their's usual and everyday desire is to sue people because their self (individual) hatred and grudge. Using remote-sensing advancements...
But, however, in the country of the residency (in Iran), as a waiver for punishment, fortunately the exit ban penalty omitted about him, by Iranian organizations... And he can leave the country...
He holds several certificates of participation, majoring political science and business communications, from the Harvard University and the University of British Columbia.
Brent - technical profile.Oil has a good chance of rising to new heights. At the moment, there are only two obstacles - resistance levels 94.30 and 96. Both resistance levels could be critical for long-term growth. Support at the moment is level 92. In general, this existing support and resistance will determine further price behavior.
Brent went down to the MaintargetHello Traders, a little Swing for buyers to the Target around 92,5. The right way is DOWNTREND, but we sell all together that Oil ca goes a other way, as we think. Watch at the red LINE and trade the reaction to 89 USD in the Next WAVE. I think in September an October we have in the last 20 Year the TOP from the monthly highest prices. The next way 89 ? Down or 96-98 USD, to the big Short.
BRENT OIL (GOT IT OUR PRICES)BRENT OIL
The price reached our target in the last idea as we said.
BRENT OIL stabilized at the bullish zone and from there 9479 will touch 96.63
Otherwise for any reason stabilizing under 94.75 will support falling to 92.91
Pivot Pivot: 94.80
Resistance Price: 96.63 & 99.80
support price: 93.23 & 91.00
Brent oil will move between 94.80 and 96.63
LAST IDEA:
UKOIL - BRENT (Still bullish)BRENT OIL
The price reached our target in the last idea as we said.
BRENT OIL stabilized at the bullish zone and from there 90.77 will touch 92.91 and above it at 96.45
Otherwise for any reason stabilizing under 90.20 will support falling to 88.16
Pivot Pivot: 90.80
Resistance Price: 92.92 & 96.46
support price: 88.20 & 86.00
Brent oil will move between 90.77 and 94.79
our last idea:
Strifor || UKOIL-09/19/2023Preferred direction: SELL
Comment: The last oil trade aimed at a short-term fall (counter-trend movement) successfully closed with a profit. At the moment, a sell setup has also formed, and here most likely the rollback will be deeper. The correction potential lies at the level of 92.50.
Thank you for like and share your views!
Brent $: abc corrective wave to follow?The price action is at the top of wave 5 out of the Elliott wave analysis.
Furthermore, the overbought classification supports the fact of a temporary correction that might be on the table.
Might we see a correction unfolding back to this 23.6% Fibonacci retracement? This level is around $89.
This level overlaps with the black dotted trendline.
A bullish signals for the Petroleum price action!1:-OPEP+ downgraded the petroleum production
2:-USA Strategic Petroleum Reserves are in ATL and will need a refillment
3:- The global production(discounting the European one, which is in a decline) are in growth phase what indicates a growth of consumption of energy
4:-Elliot Waves Theory indicates also an end of the correction A-B-C
Brent above @$100 might not be a myth !Brent have two recent bottoms 1.June 2023 ($72) and 2. August 2023 ($82.5) and has rallied more than 33% since July. The rally still looks to be continuing without till 496, $98.5 and $100 very soon. Given the strong momentum buildup and supply cuts from OPEC+ has given the oil a due rally which the cartel was expecting since June 2023.
Technically speaking levels of $126 are also on the charts as the commodity is breaking out of a Declining wedge pattern which was in formation from Jul 2022 to Jul 2023 a strong supply side pressure will be giving the commodity due advantage to rise above $100 to $125.65 as we can see.
UKOIL Enters Slippery SlopeUnfortunately my last UKOIL prediction didn’t fair too well but using the science of Elliott Wave I think I’ve been able to identify previous mistakes and also a way forward.
I expect the $90-$91 range to send UKOIL back to $25 over the next 3 years or so. Based on what news? Who knows. We’ll see when it comes but the chart is always the first indicator :)
Strifor || UKOIL-09/15/2023Preferred direction: BUY
Comment: Oil continues its steady strengthening, and the medium-term outlook for instruments is positive. However, now, most likely, the price will go for a correction, and it is expected that the instrument will reach level 92, where the balance for pushing is located. In addition, there is a small probability that the price will reach the level of 90.72, from where the price recently recorded the maximum of the current year on impulse.
Thank you for like and share your views!
#BRENT Oil The Set Up For A 97 TestIn this update we review the recent price action in Brent crude oil and identify the next high probability trading opportunity and price objectives to target
PAST PERFORMANCE NOT INDICATIVE OF FUTURE RESULTS
day trade ideaHi I found this level of an refined OB from h4 all the way down to m1that makes convergance with the 25% of the premium wick from h4 and h1. I suggest to look up for the trade on the kill zones. Cause if its outside of it its possible to not see a good movement
blue: h4
green:h1
red: m15
pink: m5
UK OIL Analysis 13/09/2023UK OIL Analysis 13/09/2023
The entry, exit and stop loss points are on the chart, 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
Brent Crude Oil [Update]My comment last night via my research note, Tuesday 12-Sep-2023, 20h59
Brent Crude Oil. We have seen a significant move over the past 9 weeks, with Brent higher from $75 to $92. The short term trend is strong with the commodity recently having cleared resistance of a 9-month base. While the trend is up, traders should are alerted to the momentum indicators which may indicate the price nearing overbought conditions, with the 7-day RSI at 80 and the 14-day RSI at 73. In the short term, the buy/long side reward-to-risk is becoming less appealing vs prior weeks.
(The insert highlights my view on 03 July which was also accompanied by several energy ETFs. Since then, the energy sector has outperformed each of the other 10 major sectors in the S&P).
For more research insights, including trade ideas, get in touch with me today.
UK-OILUK-Brent-Oil
Tactically
UK OIL generally direction is uptrend
so now, as long as trade is above 90.35 and 89.94 it will be rising to get 92.01
about downtrend should break 89.94 and stabilize under it by 4H candle and then will get 88.92 under it 87.34
Tendency: uptrend
Entry Price: 91.25
Brent - technical profile.There is a new local maximum on the oil chart. And as a result - new technical levels.
Resistance 3 - 92.88
Resistance 2 - 91.94
Resistance 1 - 91.17
Pivot point - 90.23
Support 1 - 89.46
Support 2 - 88.52
Support 3 - 87.75
I still consider level 87 to be the target of the current movement. Due to the fact that changes on the chart have been happening quite rarely lately, something tells me that I will have to be patient.
Brent, Technical AnalysisThe uptrend for Brent (UKOIL) remains clearly active for the moment although consolidation in the next few days seems favourable. ATR is very low around $1.65 and hasn’t picked up from summer’s lull, while the slow stochastic at 91 is in the zone of buying saturation. The upper band of Bollinger Bands (50, 0, 2) might continue to function as a dynamic resistance into next week.
For a new buyer here, finding an entry might be challenging because it’s not clear when a significant retracement might occur or what its extent might be. The 161.8% monthly Fibonacci extension based on 2020’s crash seems to have been broken for now, but waiting for the moving averages to catch up would traditionally be seen as sensible. Buy limits might be an option around the penultimate high slightly above $87.
However, American inflation coming up on Wednesday 13 September at 12.30 GMT is a key release for how it’s likely to drive the dollar. Equally, traders will analyse the IEA’s monthly oil market report due the same day at 8.00 GMT. Finally next week among major releases there’s Chinese industrial production for August early on Friday 15 September at 2.00 GMT.
If that misses the consensus of 4%, there might be some downward pressure and possible opportunities to sell in the short term or find a place to buy looking further ahead. One should also remember the possibility of a gap over the weekend and check regular stock data from the USA.
