Brent Could Cruise to $100 Soon- Demand from China is soaring. - The US dollar index has recoiled. - Supply is not rising as fast as demand is. - I think recession fears are overblown. Where I live, people are traveling like crazy. - European Union will announce new Russia sanctions on February 5.Long02:56by crispus92
DeGRAM | UKOIL anticipation the continuation of trendUKOIL reached resistance after a sell-off. The market is making HHs and higher close. The market is trading in the ascending channel, indicating the bears are running out of steam and the bulls are in control. We anticipate the continuation of this current trend. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!Longby DeGRAM141428
Brent Oil shortChange of character of the uptrend happened. Looking at short opportunity if price touches order block.Shortby Dene19870
UKOIL LONG Hello traders, according to my graphical analysis of UKOIL, i prospect an upward trend . thank you for watching the analysis, it will be great when you support it with a like, follow me for more market analysis .Longby XR01Updated 223
Brent: Wax your Skis ⛷️Brent accomplished the climb above the $86.06-mark and should continue to rise to finish the blue wave . Once completed, we see the course heading for a steep downwards slope to dip right into the green target zone between $77.13 and $42.20. Within the target zone, we expect the Oil to sink further to end the blue wave around the $62-mark, before rising back North to wrap up the blue wave . Followed by another correction, the course should dig deeper and get closer to the bottom of the green target zone, in order to finalize the green wave . by MarketIntel1
UKOIL: Short from ResistanceAs evident on 4Hr Time-Frame with formation of Bearish Cypher harmonic pattern UKOIL a reversal is possible. Seasonal Analysis shows JXY & DXY remain Bullish in January over 60% which have negative correlation with Oil. CXY on the other hand remain Bearish in January over 70% of times which indicates a low price of Oil. TPs can be set as per Fib Lvls identified on chart and stop Loss on or above Point D of Cypher. It is my expectation that price action will retrace to 61.8% Fib level. Manage your risk accordingly. Shortby adnanmagsiUpdated 2
UKOIL and two high targets.UKOIL will touch 170 and after pullback will hit 203. RSI is in best condition.Longby satooshi1242Updated 114
Oil the lagger! Potential short term upside.Make no mistake; we are bearish on Oil and Gas over the longer term. The longer-term price trend is still on the downside. This is on the back of a recessionary theme and global demand destruction. As of now, the market rally is still fueled by the "Fed Pivot" expectation. The credit market is fighting the Fed, sending the yield and the dollar to the downside. Gold, commodities, and Crude are beneficiaries of such market behavior. The dollar index has been down for four consecutive months. In the same period Gold has been green for three consecutive months Iron Ore futures are also up for three consecutive months Copper futures are also up for three consecutive months This makes Crude the lagger. www.tradingview.com However, given that we have monthly candles supporting at $80 per barrel, there is a potential for a short-term upside toward $95-$100 before the market realizes how shitty the economy is. We do want to emphasize one thing. Fed Pivot Rally only works if the Fate hike can bring inflation down without sending the economy into contraction. This requires the underlying economic conditions to remain strong. We have two sets of data that show the manufacturing and service sector have gone into contraction. Unfortunately, most folks do not understand that the unemployment rate is a lagging indicator; it is a symptom of sickness, and the sickness is a recession. You must get the sickness first to experience the symptom. Saying the unemployment rate is low hence no recession risk, is like saying, "I'm not coughing right now, so that means in the future I will not get covid19 ." Now let's look at a proper Leading Economic Indicator: Building Permits. Noticed how Building Permits peaked in Oct 2005 and dived to the bottom in Jan 2009. If you look at the Unemployment rate in Sep 2006 and conclude that the economy is great because of the low unemployment rate, that would be a grave mistake. We will skip the 2020 Covid19 data as Federal Reserve was quick to come to the economy's rescue hence skewing the data. Building Permits peaked on 01 Feb 2022, and it is heading down at an alarming pace. The unemployment rate remains low because it is a lagging indicator. Other leading indicators, such as Manufacturing and Service Business activities, are diving as well. So how does this lead back to Oil and other commodities? Oil can maintain an uptrend if the underlying economy is strong enough to warrant the demand. Thus any rally in oil right now is in the hope that Fed can achieve a soft landing and that the aggregate demand will return without sending inflation back into the stratosphere again. Now that is a tall order and is highly improbable. All this is to say, let's take advantage of the commodities' upside while it last before the reality kicks in. Do not overstay your welcome. You may also consider the Material Sector, which benefits greatly from the dollar downside. Do note XLB is now considered slightly overbought. Unless you are good at picking individual material stocks, you may want to wait for a retrace. This is precisely why we pick Oil, as it is the lagger. We will be looking into shorting Brent again in the future. Longby NimbusCapital110
DeGRAM | UKOIL short opportunity at confluent zoneUKOIL is approaching a confluence level where its psychological number of 86.00 and its dynamic resistance. The market is making a pullback on the larger scale of the bearish trend . Price was pushed back twice before. Look left. We anticipate a trend continuation trade if sell opportunity presents itself. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!Shortby DeGRAM4414
short opportunity Bearish Divergence on RSI Resistance with a tweezer top Candle stick pattern possible short position with a tight stop loss just above the HH Shortby adeelaftab1
OIL FUTURE I think oil will reject this area to potentially come down, make a higher low or continue the downtrend. It has just retested previous broken supportShortby TTCTRADE221
UKOIL LONG Hello traders, according to my graphical analysis of ukoil , i prospect an upward trend . thank you for watching the analysis, it will be great when you support it with a like, follow me for more market analysis .Longby XR01Updated 223
Oils going up for a bit.Oils going back up to $114, then probably (hopefully lol) going back down to around $85/90. Probably our geopolitical unrest might not go on for too long based on this chart. Hopefully all ends well for as many people as possible.by cyclerUpdated 3
UKOIL Due for 4X Growth in Value Over 4 to 5 YearsBased on the macro wavemap for UKOIL, its fairly safe to assume that the value of this commodity will increase by 396% over the next 4 to 5 years. Seemingly in a Flat corrective wave, the new all-time high near $324 should send price to retest the $60 range (at the highest).Longby DigitalSurfTrading1
Brent Crude Oil Short A nice double Top formed in a resistant level Price showing Strong downside momentum Looking for a nice Flag pattern for trend continuing short Shortby TraderSNFElvin0