BCOUSD
Brent crude oil analysisLooking for a short opportunity because:
Weekly:
Price retested and is rejected 3 times by prior support turned into resistance.
Price rejected 61.8 fib level.
200 EMA crossing the 21 and 55 EMA.
Daily:
Price broke and retested an ascending triangle.
Bearish engulfing candle close on the retest.
BCOUSD, Sell on H1.BCOUSD, Sell on H1.
H1:
- Downtrend forming
- Tendency: Downward
- Below resistance and 2 EMA
-> Waiting re-test resistance
--> Give signal candle
==> Sell ( Continuous downtrend - Minor downtrend)
Plan:
- Sell: 59.5
- TP: 57.5
BCOUSD #Forex #ForexTrader #ForexTrading #ForexChartBrent Crude Oil heading to 52.00-50.00 area possible sell
BCOUSD, Sell on H1.BCOUSD, Sell on H1.
H1:
- Test resistance D1 and move down
- Downtrend forming
- Tendency: Downward
- Below resistance and 2 EMA
-> Waiting re-test resistance
--> Give signal candle
==> Sell ( Continuous downtrend - Minor downtrend)
BCOUSD, Sell on H1.BCOUSD, Sell on H1.
H1:
- Test resistance D1 and move down
- Downtrend forming
- Tendency: Downward
- Below resistance and 2 EMA
-> Waiting re-test resistance
--> Give signal candle
==> Sell ( Continuous downtrend - Minor downtrend)
BCOUSD, Continuous downtrend on H4.BCOUSD, Continuous downtrend on H4.
H4:
- Structure: Downtrend
- Tendency: Downward
- Test resistance daily and move down
=> Sell
BCOUSD, Continuous downtrend on H4.BCOUSD, Continuous downtrend on H4.
H4:
- Structure: Downtrend
- Tendency: Downward
- Test resistance daily and move down
=> Sell
BCOUSD, Sell on H4.BCOUSD, Sell on H4.
H4:
- Structure: Downtrend
- Tendency: Downward
- SHS forming on H4?!
- Test support and neckline
-> Waiting breakout and confirmation
=> Sell
BCO USD SELL (BRENT CRUDE OIL - US DOLLAR)Hi there. Price is moving impulsively to the downside. Wait for the price to complete the continuation pattern that its forming and watch strong price action for sell.
BCO/USD Brent Crude Oil 67.450 / 66.363 VS 63.308 / 62.946 ShortHello Traders, BCO/USD Brent Crude Oil 67.450 / 66.363 VS 63.308 / 62.946 Short Term Sell Setup.
Expecting to break the previous Lower High one more time 65.3717 Looking for the TrendLine / 64.450 Break
to start the downside movement towards 63.308 / 62.946 VS 61.446 / 60.564.
Brent Crude Oil (BCOUSD) short.All description on chart.
Don't forget to like and follow.
Thank you.
Oil, the road for new lows!Hey guys, like I predicted (see the link below) oil made a nice drop,
now, wait for small consolidation to enter the trades for more down!
BCO USD SELL (BRENT CRUDE OIL - US DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
Weekly Outlook: Brent Crude forms double bottom patternBrent crude has fallen almost $15 since its 2019 peak of $75, forming a double bottom pattern which aligns with the 61.8% Fib level of the Dec 24 - Apr 25 move.
Crude inventories came in higher than expected for the last six Wednesdays, which played an important role in the $15 fall.
However, a possible escalation of tensions in the Middle East after two tankers were attacked earlier this week may support oil in the coming days.
If the double bottom pattern shows to hold, a break above $64.70 may target $67.20, followed by $70.50.
BCOUSD, Pullback: BUYBCOUSD, Pullback: BUY
H1:
- Test support daily and move up
- Breakout minor trendline and above
-> UP
