BCOUSD Bounced off resistanceTesting the waters with BCO as I see weakness. Going in light and will add as I see confirmations with my trading systems.
First target is 2:1
Second target 4:1
BCOUSD
Brent Crude Oil testing major resistance, potential for a drop!
Brent Crude Oil (BCOUSD) is tesing major resistance at 66.64 (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) and a strong reaction could occur at this level to push price back down to 64.31 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance at 98% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Brent Crude Oil starting to break major support,watch for drop!Brent crude oil is testing major support at 68.50 (Fibonacci retracement, horizontal overlap support) and a break of this level could potentially drive price all the way down to 65.96 (Fibonacci retracement, horizontal overlap support). It is important to keep an eye out on our long term ascending support line too which could serve as potential intermediate support.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
BCOUSD Ascending triangleBCOUSD Ascending triangle. It already hit two years high. So watch for break out after today 18:00 (GMT +2) US Departament of Energy data
Brent Crude (UKOIL). Correction. Weakness ahead.We could be in a WXY flat correction.
Looks like some downside is ahead to $60 area.
The saudi corruption crisis is old nowLooks like the end of the long term correction.
Trade at your own risk!
Oil looks ready for a correctionOil had a great up and looks ready to correct on the 4h.
Trade at your own risk!
Brent Crude Oil inverse head & shoulders - long-term TP ~$78-88BCO/USD is showing a potential inverse head & shoulders on the monthly chart. long term target prices are labeled in the chart. first tp is a probable support level, second tp is based on pattern projection.
this is based on pure TA, so as always, it could be wrong.
trade at your own risk.
BRENT - Possible daily Ending Diagonal for C-wave on WeeklyAlternative wave count for the current weekly C-wave shows a potential ending diagonal as fifth wave.
Zig Zag on weekly basis
Good luck!
BRENT CRUDE. Update. Triangle.We are in the last consolidation within the triangle ABCDE.
Wait breakup. Target 67-70 depends on Fibo ratios between A and C.
By the way, in USOIL there is no such a classic triangle shape.
TriangleBulls work hard to make 52.00 new support, This Triangle decides the next moves of the trend.
BRENT - Ending Diagonal for a third wave.This third wave is a C wave on daily chart on a weekly ABC.
Happy 2017!
long UKOIL @ 15 min @ trading capability for this 52nd week `16This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
