UKOIL LONGprice has been trading in a zone
for last 2 weeks. (zone marked)
let's wait for it to break out of it?
USDBRO trade ideas
The latest oil correction log?The decrease in price correction efficiency and the increase in correction time indicate the return of the price trend
here's my bias on XBRUSDim short on XBR because of the strong H4 resistance we are at and price has been bearish for quite some time now, just riding the wave.
Brent oil analysis, short-term bullishBrent is building a bullish case for the near term but it is bearish longer term while below weekly trendline resistance.
BCO Long the analysis is simple and obvious !
so you can see every thing in 4H timeframe chart .....
tell me what you think about this position
just should move upthis price for oil its not good after touched last resistance .if you see chart i draw two support range for oil and should move at this channel i draw i expect at next seasion will raise demand for oil and change price so stay at true place for oil trade
Brent Chart says it all about a shortThe downtrend will continue further here .The chart says it all about the trend down continuation .
CRUDE Oil DAILY BIASin the name of God
hello everybody...as there is a reversal pattern in daily timeframe after touching the weekly ob on the support shown, i expect the price to proceed to higher levels of the opposite order flows.it certainly takes time but there will be good opportunities in h1 for day trading in the direction of daily bias.
good luck
Crude Oil Analysis: Crude Oil Running on EmptyThe price movements affecting crude oil have been fascinating over the past year and a half.
During the period in which many Western governments imposed lockdowns on their population, oil was trading at relatively high prices because of logistical and supply chain difficulties created by enforced stay-at-home orders, whilst nations in Asia such as India, Thailand and Japan continued as normal and required as much of the thick black stuff as possible to keep the wheels of industry turning.
Once the folly of lockdowns had tested the patience of most of the Western world and the powers that be could no longer carry them out, everything suddenly went back to normal, but supply chain disruptions continued as the 'work from home' phenomenon was difficult to curtail.
Prices remained relatively high. However, in the early months of 2022, many of the same countries that imposed lockdowns began to band together to enforce trade sanctions on the Russian Federation and its industry.
One of the largest industries in that particular country is oil extraction and refinement and the production of oil-based energy products.
Indeed, Russia is an OPEC+ nation and one of the largest producers and exporters of petrochemical products in the world.
These sanctions meant that Russian oil companies could not access their bank accounts in which settlement for oil supply is made; hence many European customers had to begin to settle the supply of oil by Russian companies by paying in Rubles into a bank account in Moscow or face having their supply curtailed.
This caused a rise in the price of crude oil and much of Europe to face an energy price crisis in which the cost of heating homes or running vehicles became astronomical.
Today, things are somewhat different. The price of crude oil is, compared to a year ago, on the floor.
In fact, it is very low compared to even one month ago, and over the five-day moving average until the end of trading on May 12, it is down considerably.
On May 2, we witnessed the lowest value of crude oil in over a year, and on May 12, the second lowest since May 2.
Brent Crude Oil is down 3.4% over the past five days and a staggering 29.9% in a year.
Oil is an interesting asset class, however. This is because it is one of the only consumable commodities that exists. Gold and other precious metals do have an engineering use case, but they are really seen as stores of value as far as investment and trading are concerned, whereas oil is bought and sold entirely for the purpose of use as an energy product; therefore, its value is affected by supply and demand.
Right now, many OPEC nations are in the midst of an oil production slowdown.
For the month of April, Nigeria's oil production was below 1 million barrels per day, representing its lowest level in 7 months.
Saudi Arabia, Iraq and a few other oil-producing nations in the Middle East have been cutting oil production by one million barrels of oil a day, and Russia is set to extend its reduction in production to half a million barrels per day until the end of 2023.
As is to be expected, the US Government has criticised this move, but the OPEC nations, which are responsible for the supply of over 30% of the world's oil, are known for being able to control the market to protect the combined value of their assets.
In October 2022, the last time a cut in production was conducted by oil-producing nations, an increase in value of 5% took place.
This reduction in production is being viewed as a means of curtailing supply to ramp up the price of crude oil; therefore, following the price of crude oil is likely to be interesting given its low value now and potentially high value once the cut has taken place.
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.
BRTUSD 1H: Bearish outlook seen, further downside below 72On the 1H timeframe, there is bearish order flow, with lower highs and lower lows being formed. A pullback to the resistance zone at 75.5, which coincides with the 78.6% Fibonacci retracement, and a break below downside confirmation at 73.5 could present an opportunity to play the drop to the support zone at 72. Price is holding below ichimoku clouds and 20 EMA, supporting our bearish bias.
ukoil I think Brent will move this way
We are currently on the supports that have been specified
The goals are also specified in order
Brent Oil - 4HIf the price can break the range of 74.5 to the bottom and stabilize below it. The probability of the price falling to the range of 73.3, and if the down trend movement is strong, the probability of falling to 71.5. Otherwise, in the current range, due to the downward movement of the price and the probability of low profit of the purchase transactions, it is not suggested to make a purchase transaction.
BCOUSD 4h bullish divergency, support levels LONG!Hello fellow traders,
This idea is based on the fact the bullish signs are here- RSI divergency, doji 1h candle, and of course support level- this is an early opportunity to enter the trade while the market might just reverse at least till the t/p profit around 77
This is just my idea not a tradind advise, always protect your capital with s/l
good luck
