BCOUSD, Brent Crude Oil: Forecast on H4- Triangle pattern on H4.BCOUSD, Brent Crude Oil: Forecast on H4- Triangle pattern on H4.
--> Waiting break and confirmation !
BCOUSD
Brent Crude Oil - minus 75% in 2018In early 2019, I expect a big fall in oil prices. For the inhabitants of Russia this is another fall in the exchange rate of the national currency to the dollar: now 1USD = 57RUB + 75% (falling oil) -> 1USD = 100RUB in 2019. We wait...
Brent Crude (UKOIL). Buy on breakup for the last wave up.This is the Blitz setup as the current consolidation structure hints at the following breakout to the upside.
It looks like we have finished the 4th wave.
The next is the last 5th wave to hit the Fibonacci area highlighted with the orange box.
The target is set between the 79.64 and 84.06.
OPEC+ will meet this Friday and the last wave up coincides with the market nervousness.
Buy after break previous candle I think the last two candle confirm bull Brent again and will reach to 84 , may be to 88 during 1 to two 2 months . but I doubt in end of correction at current price 75 may it is will at 72 . Waiting the break and confirm .
BCOUSD made a bullish exit from its descending resistance line!BCOUSD has made a bullish exit from its descending resistance turned support line where it could potentially rise to its major resistance at 76.44 (50% Fibonacci retracement, horizontal overlap resistance) after bouncing off its support at 75.20 (horizontal overlap support).
RSI (89) has made a bullish exit from its descending channel and the ichimoku cloud shows signs of downward pressure which contributes to our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
BCOUSD approaching support, potential bounce!BCOUSD is approaching support at 76.27 (100% Fibonacci extension, 61.8% Fibonacci retracement, Elliot Wave structure) where it could potentially bounce off from and rise to its resistance at 78.38 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 5.17% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Crude Oil - Short to 72.35Trade what we see:
Crude has been on a very long bullish run which ended in an exhaustion phased.
Buyers re-entered the market but were stopped out.
Looking for bearish momentum back to it's first fib level of 72.35
We should meet the MA cross around this level so would seem appropriate to exit the trade.
BCOUSD reversed off resistance, potential further drop!BCOUSD reversed nicely off its resistance at 78.43 (61.8% Fibonacci retracement, horizontal overlap resistance) where price could potentially drop further to its major support at 76.38 (61.8% Fibonacci retracement, horizontal pullback support).
RSI (55) has made a bearish exit from its ascending support turned resistance line which contributes to our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Brent Crude Oil. Full technical and Wave analysis
There are a lot of intraday signals for good setup. But consider the situation at the moment. One of them is now presented on the chart and is ready for implementation
Brent Crude finding resistance at the rising daily channelBrent Crude seems to find resistance at the rising daily channel, which aligns with a horizontal resistance zone.
Oil rally takes a little pause
Brent crude oil 0.03% for a time was in an uptrend. We have reached the peak of the trend. Now comes the correction. The nearest support levels are located on the chart. The price is less likely to break through level 2 as well. The impulse ended with a finite diagonal triangle
BCOUSD - Went long after the breakResuming my campaign on the long side on oil as we open up the week. We broke out of an important pattern and held above the support so I am adding to my position.
Keep an eye out on BCOUSD breakoutOil has been contracting like crazy in the past weeks and the breakout will be nothing short of violent so keep it on your watch list.
BCOUSD Symmetrical triangle Short opportunityGood Morning,
Chart has allowed us to spot symmetrical triangle, which can be found as continuation or reversal sign. In my opinion this formation will support further downward movement. To support my point of view, you can see on the chart that second trend line was broke and we are likely heading to a main trend line below. Moreover we can see that MA50 was crossed and probably so as MA100. Range of the formation is fitting very well with Fibo 127.2 and structural support. Short positions should be opened below closest supports as shown on the chart.
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Remember it's only my point of view, every investment you make is fully on your risk.
BCOUSD - Anticipating the break with very light positionThis is a high risk trade so I went very light but I am just feeling it. Getting long and will add as we break resistance lines. If you are the fearful type, I suggest you wait for a close above the green line before doing anything.
BCOUSD - The big pictureBCO broke out of a reversed H&S pattern and now came into some resistance. It is accumulating in a triangle formation which suggests a continuation, however, I don't rule out that it will pop on the downside. For now I am watching it, but given that this pattern is visible on a weekly chart, I will pyramid heavily into either direction it chooses. For now I am just messing around taking scalps into the pattern as I just did today. Be careful not to be caught on the wrong side of a trade with it though, as a monster is about to emerge from the water.
BCOUSD quick retracement set upTaking a quick scalp by banking on a retracement after the overly aggressive run-up. Target 2 for 1.
