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Brent

UKOILSPOT bearish continuation! | 12 April 2022Prices are on bearish momentum and abiding by a descending trendline resistance. We see the potential for a dip from our sell entry at 102.02 in line with 61.8% Fibonacci Projection towards our Take Profit at 95.38 which is graphical swing low. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FX:UKOILSPOTShort
by FXCM
CRUDE OIL (WTI) Key Levels to Watch 🛢 For the last three weeks, WTI Crude Oil is very bearish. Recently the price broke and closed below a strong rising trend line and now is approaching strong horizontal support. Here are key levels for you to watch for oil trading: Support 1: 93.2 - 95.0 area. Support 2: 86.6 - 89.7 area. Support 3: 72.5 - 75.3 area. Resistance: vertical trend line. Resistance 1: 106.9 - 109.0. Resistance 2: 114.3 - 116.7. Breakout of one of those will trigger a bullish/bearish continuation to the next structure. While a test and confirmation may give you a counter-trend/trend-following trade. ❤️Please, support this idea with like and comment!❤️
TVC:USOILShort
by VasilyTrader
32
Brent Falls Below $100, Erasing Ukraine War GainsCrude prices have erased most gains since the start of the Russian invasion of Ukraine. Lockdowns in China weigh on demand expectations. China’s financial hub Shanghai reported a record more than 25,000 new infections during the weekend. POSSIBLE OIL TRADING STRATEGY: IF YOU ARE BIG RISK TAKER ON DAILY CHART :TAKE THE TREND! DONCHIAN 20,25and30 has been broken:Also the important pychological level and Golden Number 100! First target for Short seller could be 94,86,74 and 64 USD. If You are Intraday Trader, Ue VWAP-Power and trade that blackgold only below. Trail your top or close each position before the Day-Close. But always remember: Long Termwe will see again 200-250USD in Oil, but as Traders important i right now and not what will be happened in 2,6or 12 Months. Live today to trade better tommorrow. Your capital is the blood of your trading business. Oil prices dipped by more than 4% early on Monday, with Brent falling below $100 a barrel, as COVID-related lockdowns in China weighed on demand expectations, while the coordinated massive release from oil reserves eased fears of supply shortages. As of 8:05 a.m. ET on Monday, WTI Crude was down by 4.80% at $93.59, and Brent Crude was trading down by 4.50% at $98.18. Short selling is un-American. It is done by rogues, thieves, and especially pessimists, who are, of course, the worst of the lot. It is a terrible, terrible thing and must be stopped in our lifetime. We should halt it, restrict it, or at the very least revile those who make it their vocation. The above sentiments are sadly not imaginary or rare. Rather, they genuinely reflect much of the investing public’s view of short selling. In fact, attacks have included proposals to make short selling harder (the existing “uptick rule” already makes it hard), or to make it impossible by banning it outright (presumably along with pessimism itself, and perhaps the infield fly rule). These criticisms and draconian proposals all increase in volume and seriousness when the stock market goes through a tough time. At such times many claim short sellers are the cause of the market’s decline. Finally, at the low point for stock prices, many members of Congress invariably reexamine whether shorting should be allowed, or more simply, consider just legislating that the Dow go up 50 points a day. Of course, the media does not help. A rising stock market is a good thing for ratings and circulation. This country is, of course, biased toward rooting for stocks to go up, and people watch and read more about this stuff when it is fun (i.e., going up). Thus, short sellers, with their gloomy attitude, are not generally media friendly. In fact, even some pro-free enterprise media outlets sometimes throw away their laissez faire stance when it comes to short selling, particularly “in times of crisis” (defined as an overvalued market getting a bit less overvalued). Apparently, they have some confusion regarding the difference between supporting a free capital market versus supporting an expensive one. Well, to sum up the theme of this foreword, opponents of short selling are not merely wrong. They are incredibly wrong, both factually and morally. Short sellers are among the heroes of capitalism and we owe them our thanks not our opprobrium. The opponents of short selling are either exceptionally economically challenged, or run to a natural tendency to ban anything they do not like. There’s a word for the political system favored by people like that and it is not democracy (but does rhyme with Motalitarianism). Oil prices have now erased most of their gains since the start of the Russian invasion of Ukraine, after a month and a half of extremely volatile trading in which market participants have trimmed their positions in the crude oil futures. Oil hasn’t been this low since the middle of March. Early on Monday, the continued lockdowns in China—which is fighting its worst outbreak in two years with its zero-COVID policy—were still a source of concern for the oil market, which is apprehensive of the outlook on demand in the world’s biggest crude oil importer. China’s financial hub Shanghai reported a record more than 25,000 new infections during the weekend. One of China’s wealthiest cities, with 26 million residents, has been under lockdown for more than a week under the Chinese “zero-COVID” policy, which could weigh on fuel demand. Authorities started easing some restrictions on Monday, as residents became increasingly frustrated with the policy. “Weaker domestic demand suggests we should see refiners cutting operating rates, whilst there is also the potential that we see a pick-up in refined product exports from China in the short term,” ING strategists Warren Patterson and Wenyu Yao said on Monday. Moreover, the weakening prompt time spreads in the crude oil futures structure suggest that the physical market is not as tight as what was perceived a few weeks ago. “There are also indications that the market is looking less tight. The physical market has seen further weakness recently, whilst the prompt ICE Brent time spread has come under significant pressure in recent weeks,” ING’s strategists added. Citi: Fears Of Oil Supply Shortage Are Exaggerated, But… Citi: Russian supply loss could be lower than feared. Citi's Ed Morse: COVID lockdowns in China help lower demand. The world will have more than enough oil in coming months according to Citigroup analysts. The world will have more than enough oil because the Russian supply loss could be lower than feared. But it will also have enough oil simply because demand growth could slow down with higher prices and COVID lockdowns in China, analysts at Citigroup say. “Even as Russian production slides and OPEC+ actually reduces total flows to markets, a slowdown in global growth is reducing oil demand growth, and the IEA release of 220mln barrels of oil between now and October point to market weakness and inventory builds ahead,” Citi analyst Edward Morse said in a note carried by Proactive Investors. Moreover, Citi believes that the fears of a loss of up to 3 million barrels per day (bpd) of Russian oil supply are exaggerated. “Of 1.9-m b/d of European seaborne exports of crude oil, around 900-k b/d is being pushed to other markets such as India or will likely stay in some European markets with limited access to non-Russian oil,” Citi’s analysts wrote. Therefore, the world will have more than enough oil in coming months, the analysts noted. “Without a deeper Russian cut, which is possible, the numbers add up to much more than enough oil,” according to Citi. Citi’s view is contrary to other analysts and investment banks which see severe constraints in oil supply. Commodities have room to soar by another 40 percent on top of the gains in recent months, as investors could pour more money into raw materials as a hedge against the highest inflation in 40 years, JPMorgan Chase & Co says. There is “absolutely” a supply problem in the oil sector, Jeff Currie, global head of commodities at Goldman Sachs, told Bloomberg on Wednesday. There are broad-based supply constraints in oil producers, particularly non-core OPEC, Currie said. Every producer except for Saudi Arabia and the UAE is producing less today than they were in 2020, he added. Throw in the Russian shock, and the supply constraints are the most severe in decades, since the 1970s, according to Currie. The record release of U.S. Strategic Petroleum Reserve (SPR) “is still insufficient to be able to deal with the scale of the problem,” he noted. FinalThoughts:THE TREND IS YOUR FRIEND! AND ALWAYS USE STOPS!ALWAYS!
OANDA:BCOUSDShort
by DaveBrascoFX
UKOIL potential for a bounce! | 8th April 2022Prices are approaching a pivot . We see the potential for a bounce from our buy entry at 100.83 in line with 127.2% Fibonacci extension and 78.6% Fibonacci retracement towards our Take Profit at 109.49 in line with 127.2% Fibonacci Projection . RSI is at levels where bounces previously occurred. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FX:UKOILSPOTLong
by FXCM
☑️USDCAD: medium-term long➡️ At the moment, in the medium term, the USDCAD currency pair is considered long. Globally, the price is in the range of 1.20000 - 1.45000 and has already rebounded from its lower border. Locally (on the chart) the price is clearly in the balance of 1.24697 - 1.25929 and the sellers are getting ready for another drop to the level of 1.24697 today. After that, the expected medium-term long will become a reality. Considering the fundamental aspect, the market is increasingly betting that the Bank of Canada ( BoC ) will raise its key rate by 50 bp . at the next meeting. Expectations of a rate hike were likely caused by the publication on Monday of a survey of business prospects of the Bank of Canada. Also today, data on the labor market is expected to be released, which will also clarify fundamentally. ➖➖➖➖➖➖➖ 👍 Thanks for your comments and likes 👍 👇🔥 LINKS TO PREVIOUS IDEAS AND FORECASTS 🔥👇
Long
by TradePlus-Fx
18
UKOIL potential for bounce! | 6th April 2022Prices are on bullish momentum and abiding by an ascending trendline. We see the potential for bullish continuation from our Buy Entry at 105.19 in line with 61.8% Fibonacci retracement towards our Take Profit at 111.61 which is an area of Fibonacci confluences. RSI is portraying bullish momentum. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FX:UKOILSPOTLong
by FXCM
Brent Crude May Form a Big Bullish TriangleA few days ago, America announced the uncapping of strategic oil reserves, which are now at the lowest level in the last 20 years - about 570 million barrels. Regular sales of 1 million barrels per day of oil will lead to their reduction by another third. But today oil quotes are getting more expensive again, as the sale of oil from the US strategic reserve will not compensate for the Russian oil that has fallen out if the calls of French President Emmanuel Macron are heard and EU countries impose an embargo on imports from Russia. These new sanctions should target coal and oil, Macron said. Some European governments insist on imposing additional sanctions against Russia. I will not claim that Europe is hearing Ukraine to provocations and has already chosen Russia in advance as the culprit. The problem is that governments do not want to admit to themselves that the rejection of Russia's hydrocarbons is a big damage to the EU. Russian gas accounts for about 40% of natural gas imports to the EU, and oil accounts for about 25%, Sky News writes. The Germans have revised their views on "green energy" (abandoning nuclear power plants, switching to wind power). According to many economists, the ban on Russian energy supplies will lead to a reduction in German GDP by more than 5%. This decline will be the second largest since the Second World War. The German Economic Institute stated that the imposition of an embargo on oil and gas would lead to incalculable risks. In my opinion, the chances of introducing new sanctions are quite high, which means that oil prices will not only not fall, but may also continue to grow in the medium term. I assume the formation of a large bullish triangle on the daily chart with the stability of the growing trend, which started from the beginning of December 2021. A breakthrough for the maximum on March 24 will be an unambiguous signal for further price growth. Although the first signal to increase will be received if the triangle resistance line is overcome, which falls in the area of $ 117-118 per barrel. PS Does America really want to suppress the rise in gasoline prices? or is she confused about her plans?
OLong
by scavoanastasiia
☑️BRENT: intra-balance sheet movement➡️ The release of 180 million barrels of US strategic reserves to the market will help the oil market balance in 2022, increasing supply by 1 million barrels per day within six months, analysts at Goldman Sachs write. According to analysts, the additional supply "will not solve the problem of a structural supply deficit that has been building up over the years." “In fact, lower prices in 2022 will support oil demand while slowing down the acceleration in shale oil production and keeping the current deficit in 2023, as well as the likely need to replenish strategic reserves.” Thus, the release of reserves will reduce incentives for shale oil producers in the face of declining asset prices. This is microeconomics, so this shouldn't be news. We could raise our 2023 Brent forecast by $5/bbl above our current 110 estimate to reflect higher demand and lower supply of shale oil after 2022 ends. At the moment, technically, the instrument is in the balance of 105.85 - 114.83 . The market setup for today speaks in favor of purchases, however, there is resistance at 108.25 ahead, which is expected to be broken by buyers. ➖➖➖➖➖➖➖ 👍 Thanks for your comments and likes 👍 👇🔥 LINKS TO PREVIOUS IDEAS AND FORECASTS 🔥👇
TVC:UKOILLong
by TradePlus-Fx
15
CRUDE OIL BEARISH PREDICTIONSThis Thursday (31.03.2022) the president of the USA declared that the country will release from its strategic oil reserves, in coordinated effort with other countries. USA is planning to release 1 million barrels per day, while other countries might contribute 30-50 million barrels. This will erase the shortage of energy supply for the second quarter and might even lead to oversupply for the 3rd quarter. The price of Brent reflected on this, when Brent tested its previous support level of 104 USD. If the bearish move continues, it will probably tests its next support level at 102 USD. If instead the price reverse, it most likely will test its resistance at 108 USD. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:BRENTShort
by legacyFXofficial
1
WTI REMAINS INDECISIVEWTI prices remain highly volatile and highly responsive to the news following the russian invasion in Ukraine. After some progress in the peace talk between Russia and Ukraine in Istanbul, the price of WTI fell with 2% in Tuesday, but the situation there is far from over, so writing off some future rally due to new developments is out of the question. OPEC+ countries are expected to stick to their plan of gradually increasing oil production despite the high prices and will not give up to the pressure from Western countries to increase the supply. On the other hand, the lockdown in Shanghai and the new COVID measures in China might decrease its demands for oil. China currently ranks as the second largest consumer of oil in the world. On a technical note, a descending triangle pattern is formed by the price movement with support at 93 USD. If the price keeps falling, it will test that support level. If it continues to rise, it will test its previous high of 115 USD and after that its high of 126 USD. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTI
by legacyFXofficial
Short term bearishness in Brent CrudeFX_IDC:USDBRO is retracing in what seem to be wave C of ABC decline after completing a 5 wave impulse. There are 2 primary levels to watch out for - first is $87 based on A and C equality, but price could take support at the trendline and wave C could truncate or result in complex correction. That level would be between $98-$100. Having said that, once this correction is over, we are looking at next impulse which could be equal to the previous impulse (1-2-3-4-5). Keep an eye!
FX_IDC:USDBROShort
by YetAnotherTA
Brent Crude - Interesting Areas of SupportOil prices have been rising once again over the last week as the EU has considered banning Russian imports and an outage on a pipeline that runs through the country reduced output by around one million barrels per day. Sanctions imposed by the West have already caused significant disruption to Russian oil exports which could total around three million barrels per day, on top of the one million coming through the country from Kazakhstan. In an already very tight market, that could continue to support crude prices in the coming months, and should further disruptions occur, much higher prices could follow. In times of such volatility and headline-driven markets, technical analysis can be less useful as we see massive price swings throughout the day. But it can still be useful to be aware of key levels, as we saw earlier this month when the price rotated around $100. If the price continues to correct lower, one notable level that could be interesting is $111. This marks the 50% retracement of the recent lows to highs and the bottom of the 55/89-period SMA on the 4-hour chart. Prior to this, $114 could also be interesting, being the 38.2% retracement and the top of the same SMA band. Of course, as already mentioned, news is breaking all the time and the market will continue to be very sensitive to it.
OANDA:BCOUSD
by OANDA