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Brent

Oil Topping for nowPrice has flipped many times in the past at this price. Price is extended to the upside. Momentum has been diverging for the last 8 months. OPEC+ has reaffirmed their stance to increase production. Saudi Arabia and other countries production hasn't even been turned back on yet so they can increase it even more if need be. Global demand and consumer demand is actually falling, this can be seen by China's economy contracting so prevalently. It's still winter and a correction is warranted. Maybe by May or so, we go back up again and could go to crazy heights if things don't get better with inflation.
TVC:UKOILShort
by MonetaryRebel
UKOIL Short IdeaOil Markets are currently trading at the highest levels since 2014 after just reaching the 96 area. There has been a small retracement from this high to the current region (93.88). The RSI indicator on the higher time frames show very overbought levels which show that price could fall from this area down to the previous resistance zone. The target of this short idea is the previous resistance level at 90.88, this is a 3% gain for 1% of risk (stop-loss at 94.89).
TVC:UKOILShort
by Orion-Markets
An attractive ideaThis analysis is purely a personal analysis Hints 1. This analysis is checked in the weekly time frame, so each of the waves has the necessary time to form between a few weeks to several months, and a total of one to two years. 2. For convenience, it refuses to go into details so that the trader can easily understand it. 3. The study was performed in the form of Elliott and canalization using Macd indicator Analysis Description: Oil is on a long-term upward trajectory annually, so after the proper growth of oil prices and the failure of the downtrend, higher goals are pursued, but what is clear is that each impulse step needs a active step to rest. So it can be said that in the next few weeks to a few months, the oil route is expected to be relatively upward to reach its $ 114 target to complete a complete cycle. And then it enters a correction cycle that can take up to two years, so expecting to see $ 35- $ 45 as a midline target is not unexpected. Note: Proper insight into considering all possible scenarios then 1. Short-term visions Long-term to medium-term are well defined We have a temporary uptrend and targets of $ 114 and $ 105 for it Then for several months the rest of the movement shifted and, the price suffered And then move to the channel midline for several months At the end of this analysis is only a personal analysis and there is no certainty in doing or not doing it ......
TVC:UKOILShort
by cafe_chart_
TS ❕ BRENT: time for correction"Black Gold" showed excellent results and the price closed above $94. However, soon the instrument will need a downward correction, at least. SELL scenario: The short entry point is expected to be found at the resistance line of the uptrend channel. You can enter both on a rebound from this line or after a false breakout, which will be a more conservative option. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
TVC:UKOILShort
by UnknownUnicorn15614419
3
TS ❕ BRENT: re-approach The rapid growth of oil continues. After reaching the level of 94, as expected, buyers have not calmed down and are aiming for new highs. BUY scenario: At the moment, longs are relevant, especially from the level of 91.08, where the support line is also located. The price is expected to re-approach the level of 94. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
TVC:UKOILLong
by UnknownUnicorn15614419
4
WTI - CL - Above Probable Range Consensus is $100 WTI - everyone is talking about it, maybe it happens. From a technical standpoint - its overdone. Note the green arrows. This week comments Nancy Pelosi sent crude screaming higher. Obviously geopolitical issues will supersede technicals when it comes to oil prices. That said I expect these comments to fizzle away - now that all shorts have been obliterated. WTI up over $3 on Friday alone at its peak. US Dollar was down this week which also pushed oil higher - personally looking for DXY to move up as well, which will also support lower oil prices in USD. Only the Euro rallied, both the Canadian Dollar and British Pound were lower. Daily chart shows oil was divergent on this latest rally - and looked like $88 was likely the top, and it looked weak, with all the shorts in place, they thrust oil higher. Looking for oil to pullback to about $83
NYMEX:CL1!Short
by Maximilianned
The correction I want to see before trading on USOIL This is an update on the post I made last week regarding the correction I want to see before trading (you can see the full post on the "link to related ideas") The concept of the setup is pretty simple. The price has already behaved in similar ways in the current area in the past, and the last thing I need to observe to say "This is ready" is the correction I have defined on this chart. Of course, if this doesn't happen, then I will not be able to trade, and that's the end of the story. However, if the filter happens, I know ill be in front of a high-quality setup. PAST SITUATIONS: The setup is like this . If the expected correction happens, I will set pending orders on a new local high, stop loss below the correction and target on the next weekly resistance level. This setup can take around 150 to 200 days. The risk I will be taking in this situation is 3% of my trading capital. Thanks for reading! Feel free to share your view and charts in the comments.
TVC:USOIL
by ThinkingAntsOk
4
Brent oil price to remain elevated in range 84 - 90Hello traders, As predicted earlier, with OPEC+ increasing supply from the beginning of 2022, the price for oil rose up and above 85. Upside trend has taken a pause or in technical terms "retracement" or "consolidation" after a strong up momentum. As we can see in 4hrs charts upward momentum from 77 levels till 91. Now we will see prices move in range 84.5 - 89.5 for some time before it hikes to 100 levels. Brent oil outlook for now and for next two months is not good for oil importing countries. Reasons: 1. Increase in supply by OPEC+ and Shale gas producers cannot keep up with the demand. 2. Geo-political issue with Ukraine, Russia and NATO group of countries. 3. Frequent extreme weather is undermining the global supply chain making commodities expensive. Happy trading,
FX_IDC:USDBRO
by HerschelleGirnari