Brent Crude Oil🛢️Outlook: Navigating The Next Huge Move (4H)
Updated
Brent Crude Oil Forecast 🛢️ TVC:UKOIL
Just like we called it earlier, the price dropped from 82.00 to 79, hitting our Take Profit sweet spot.
Now, even though the price popped above 81, it couldn't make higher high, and it's chilling below the 100-day moving average on the 4-hour chart.
Looks like we might see it slide back from 81.50 - 82.00 to 80. If 80 can't hold its ground, we might be looking at a dip to the 77 zone. On the flip side, if it manages to break above 83, we could be in for a bullish ride.
Quick heads up: Keep your eyes peeled for any surprise moves, especially with the OPEC meeting on November 30, 2023, and the ongoing tension between Palestine and Israel.
Key Levels:
Support lines: 79.00 & 76.00
Resistance lines: 83.00 & 84.64
Drop your thoughts in the comments below. Appreciate your take on this! Thanks! 🚀
Just like we called it earlier, the price dropped from 82.00 to 79, hitting our Take Profit sweet spot.
Now, even though the price popped above 81, it couldn't make higher high, and it's chilling below the 100-day moving average on the 4-hour chart.
Looks like we might see it slide back from 81.50 - 82.00 to 80. If 80 can't hold its ground, we might be looking at a dip to the 77 zone. On the flip side, if it manages to break above 83, we could be in for a bullish ride.
Quick heads up: Keep your eyes peeled for any surprise moves, especially with the OPEC meeting on November 30, 2023, and the ongoing tension between Palestine and Israel.
Key Levels:
Support lines: 79.00 & 76.00
Resistance lines: 83.00 & 84.64
Drop your thoughts in the comments below. Appreciate your take on this! Thanks! 🚀
Trade active
Price went to our selling zone and we sold from 81.60, now price approaching 81 and trying to break 30-day moving average in 4 hour time frame. if it breaks then there is small support at 80.56. You may consider taking partial profit from there or Set SL to BE and leave rest for our final target. Good Luck.
Trade closed: target reached
Even though price went back up to our sell zone again, it eventually fall back and successfully reached our TP at 80.00. Those who set SL to BE have gotten out of trade as price had unexpected move to grab liquidity then fall right back to our target.
Congratulations to everyone who followed and stayed in trade.
Wait for my new idea on Monday and have a great weekend everyone!
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