BCOUSD
CRUDE OIL WITH BIG MOVEMENT ON THE WAY !WTICOUSD & USOIL Crude Oil hit the strong resistance so that will push the prices to go down.
Brent Crude: $44.50 is breaking 🛢TECHNICALS: Morning traders! Brent crude is reaching its highest level since early March on US stimulus hopes and ahead of the EIA oil inventory data. Strong breakout candle forming on the 1-hour chart.
RISK SENTIMENT: Risk-on this morning, supporting higher oil prices.
HOW TO TRADE: Looking for a pullback to previous resistance and trading pullback weakness. Strength in the correction might send oil back into its previous range, so be aware of a possible fake breakout!
Brent Crude: Ending diagonal, down then up in 5 of (5)This is the updated map. Could be an ending diagonal in wave 5 to complete the first impulse up
It goes in line with the big map (see related) and also my forecast
that price should fill in the gap occurred when Saudis started price war this March
Brent Crude Updated Map - Triangle in wave X - watch 41.30 This is an update for the earlier map (see related)
Wave X could have built a triangle ABCDE.
All rules are obeyed.
Price should trigger the terminal point of wave D of triangle to destroy it below 41.30.
The target is the same
USOIL TIME TO SHORT !USOIL at good point to short after breakdown the trend line and rebound for testing the resistance.
BCO USD SELL (BRENT CRUDE OIL - US DOLLAR)Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current levels for sell.
🛢 Brent Crude Full Analysis - July 07Please hit the "LIKE" button if you find this post useful. Also, don't forget to subscribe to get more trade ideas like this. Thanks!
TECHNICALS:
Brent crude is trading at an important long-term rising trendline which acts as a solid support at the moment.
The 1-hour chart shows a nice retracement today, signaling further strength in the price from a technical standpoint. The RSI formed a hidden bullish divergence just before the spike.
CORRELATIONS:
The chart shows the USD index (inversed) and Brent crude. The recent up-move in Brent can be partly explained by the downtrend in the US dollar.
However, notice that Brent is closer to its June highs than the USD is to its June lows, signaling a slight bearish divergence.
THEMES:
Recent reports suggest oil demand to rebound despite the spike In COVID-19 cases.
China's crude oil imports of 11.93 million bpd also hit a record high in June.
UPCOMING ECONOMIC REPORTS:
The US Crude Oil Inventories report is scheduled for release tomorrow (July 08) at 15:30 GMT with a forecast of a -3.2 million barrels. The previous release showed a fall of 7.2 million barrels.
=== SUMMARY ===
I remain bullish on Brent crude as long as it trades above the rising trendline.
Our previous post on Brent suggested taking a long position at the $39 pullback which is in a nice profit so far.
A close above $43.50 paves the road to $50.
Crude oil (WTI) to retest 34.34 The price broke down the double three WXY of (B) corrective structure.
We got the pullback to the broken support.
Watch further break below minor support.
Wave (C) could retest the former valley of 34.34
See related Brent crude for education purpose - the overall structure is the same, but the current corrective structure in wave (B) differs.
Brent Crude: Watch Recovery For Another SellWe got the first leg down (A) of the second drop ((W)) to complete the big consolidation (((4))).
I expect the retracement (B) to emerge soon to reach between 41.60 and 42.20
I highlighted the historical pullback with green ellipse for sample.
Another drop down (C) could undershoot at 37.51, ((Y))=((W)) or overlap beyond the terminal point of wave ((W)) below 36.99.
BCO USD BUY (BRENT CRUDE OIL - US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
BRENT CRUDE OIL: TRANSIENT ZONE 25% AHEADThe chart provides a grid of Fibo extensions and Pitchforks for Brent Crude Oil.
The price is literally in front of the massive transient zone with 25% distance.
On the spot of the short seller I would be worried. Shorts are very dangerous.
Good Luck!
Buying oil in the short termPeace, mercy and blessings of God
It seems that the historical agreement of the black gold producing countries is beginning to take effect
In the past two weeks, we had a purchase of oil, thank God, all goals were achieved with a total of 1126 points
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Now as we see in the chart above, we have a positive Harmonic pattern on the weekly frame, with a very clear breach of the downtrend, which enhances buying opportunities in the short and medium term.
Targets and stops are shown on the chart
We ask God for success
Brent Crude Could Have Started Another Drop to 36.99The price failed to tag the former top of 43.40, but it's ok and the huge flat correction goes as planned (see related).
We got move down and almost full retracement of it in place. Another drop is pending to complete the correction.
The minimum target is located at the former low of 36.99.
Brent Crude Oil: 50 or 11?If Price > 42.902 then Target 50
If Price < 40.987 then Target 11
Bounce from 42.902 will be new scenario (need for data).
BCOUSD sell?Hello everybody,
I want to share with you a sell opportunity on the 1h chart BCOUSD.
As you can see the price is near the resistance line and probably will go down to the support line.
This is only my opinion.Make you own analysis before investing.
Comment below if you agree.
Sell opportunity Hello everybody
I want to share this sell opportunity on 1h chart.The price testing now a resistance line and probably will go down to the support line as you can see on chart.
Comment below if you agree.
This is only my opinion, make your own analysis before investing
Brent Crude: How to trade 🛢Hi traders,
Brent crude continued its bull run as countries around the world ease lockdown restrictions and shows signs of economic recovery.
Oil is trading in a strong uptrend, with a break above $42 signaling further upside potential and the formation of a new impulsive move.
The recent pullbacks on the 1-hour chart also provided buying opportunities. A fall to $39 (the lower channel support) could provide a very nice long entry with an attractive reward-to-risk ratio as well.
Brent Crude Updated Map - More Down 32.90/29.70Current consolidation is a classic flat within double three WXY (white labels).
Which is in its turn is the wave ((X)) of the larger yellow degree - the junction between ((W)) and ((Y)).
After it gets completed another drop would follow to hit the blue box between 32.90 (38.2% Fib) and 29.70 (50% Fib).
