BRENT Oil aims for a breakoutBRENT Oil is about to break through the 200-period MA. If so, we expect a strong upward momentum up to $86.00 per barrel.
🔼Trade: Buy BRENT
🎯TP: 85.0, 86.0.
UKOUSD trade ideas
UkOIL BUY ideathe overall trend it up
we expect price to reverse from this level to continue upwards
UKOIL // Triangle pattern Resistance breakdown requiredAlthough there is a triangle formation on the chart, let's look for closures where I indicated with X.
Oil waiting for good news75 is a good support for brent oil price. new data from world economic is not enough strong to push oil price up. channels are depicted and waiting for a breakthrough.
easyMarkets Brent Oil Daily - Quick Technical OverviewBrent oil continues to trade between two trendlines, a short-term upside one taken from the low of December 9th and a downside line drawn from the high of July 28th. As long as the commodity remains between those two lines, we will stay neutral.
If the downside line gets violated, we will start examining higher areas as potential targets, however, more buyers may join in if Brent oil jumps above the 89-dollar mark. Additionally, the commodity could also rise above the 200-day EMA, which also could be seen as a bullish indication.
Alternatively, a break below the aforementioned upside line and an additional move below the 80.43 zone may attract more sellers into the game, possibly clearing the way to the 75.00 area.
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UK Brent Oil: Oil is Rising More...What's Next?UK Brent Oil: Oil is Rising More...What's Next?
In this analysis, I am looking at the technical perspective of oil and a
reference about what happened on the past.
We need to look at history time after time.
For more details, you can watch the video analysis!
Thanks and good luck!
Crude long-term viewI count crude as wave circle C of a larger wave 4 that started in 2008. So far it looks like wave 1 of circle C is complete and crude is papering for a bounce in wave 2 (somewhere to 95-100 zone). Overall target for the larger wave 4 is in the 20-25 range. We then should expect a sharp rally to 200 level into 2027-28.
UK BRENT short idea!!!! Hi traders, here's my idea concerning the UK BRENT. I found a sell opportunity where we can see a bearish order block aligned with the Quasimodo level. That's well-known as an MPL or Maximum Pain Level. We can clearly see a liquidity sweep just above the Quasimodo level. Any trade you take after this is your own responsibility. Set a proper money management. Trade safely and carefully.
DeGRAM | UKOIL trend continuationUKOIL broke through the support level.
The price tested, broke, and closed below the major resistance level of $84.00.
The oil market could retest the resistance and fibo 50% before dropping again.
We anticipate a bearish continuation trade.
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Brent Crude is ready for major moveOil has been in a large falling wedge for the last year or so. Over the past three months, it has started to show some strength, as it has not yet retested the support of the falling wedge, instead finding new support at a trading line. It is impressive how the price is respecting the lower trend and new support line. Oil is currently in a symmetrical triangle, which is near its end, and soon there will be no place for it to consolidate on this level, forcing a significant move up or down.
It is currently below all major moving averages (MA), but the fact that the 8, 20, and 50-day MAs are all at the same level indicates an explosive move is imminent.
The relative strength index (RSI) is neutral and behaves similarly to the price.
The moving average convergence divergence (MACD) is coiling around the zero line, suggesting that the upcoming move will also be significant.
Overall: Brent Crude found support around $80, and while it has not yet bounced, it is preparing for a major move in either direction. This presents a great trading opportunity as we do not need to be bullish or bearish to make money. There is no bias as the price can move in both directions, but breaking the current pattern will lead to a strong move. Considering we are currently in a bullish pattern, there is a slightly higher chance for Brent to break up. If it does, the first major resistance would be at the BigRed level, around 14% from here. If it breaks down, the support would be at the trend line from the falling wedge, which is also around 13-15% from this level.
Overall, this presents an ideal opportunity for those trading based on patterns and edges.
Brent Crude Oil Monthly Log ChartSink or Swim time for crude oil!
If you are looking much lower from here, then you are not considering the critical amount of support the price is currently sitting on.
Trading is a game of probabilities.
#inflation #recession #crudeoil #fintwit
Analysis of 23-2GBPNZD : vandaag met winst afgesloten en nu weer een nieuwe sell trade op 1.92946
BCOUSD : een risico waard. Mooie uptrend. een buy uitgevoerd op 82.425.
Brent Crude Oil’s Dead Cat Bouncing is too much! 23/Feb/23.It’s not that just UN are “pushing” “carbon free energies”. The “emerging or existing” Billionaire/Trillionaire capitalists are “investing” heavily on “clean energy”.. So any “logic” to let their “heavy big investment” “go to vein”?!
oil BrentWe are witnessing a correction in a channelized range that completed the -0.5 shark pattern in this range and we are exactly on the expected correction area of the above pattern, we are in the 50% Fibo area at 75.65 with a little flexibility in the above pattern at the intersection with the midline of the channel along with Two pivot point ranges at the prices of 64.15 and 71.28 can be expected to support the upward movement that can determine the role of the above reduction in dealing with the ceiling.
DeGRAM | UKOIL confluence level for sellUKOIL rebounded from the bearish trendline on the 4H chart.
Price action printed a double top, and it created the same pattern as before.
The market pulled back on the larger scale of the bearish trend .
We anticipate a trend continuation trade.
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