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Brent

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 $83
NYMEX:CL1!Short
by Maximilianned
The correction I want to see before trading on USOIL This is an update on the post I made last week regarding the correction I want to see before trading (you can see the full post on the "link to related ideas") The concept of the setup is pretty simple. The price has already behaved in similar ways in the current area in the past, and the last thing I need to observe to say "This is ready" is the correction I have defined on this chart. Of course, if this doesn't happen, then I will not be able to trade, and that's the end of the story. However, if the filter happens, I know ill be in front of a high-quality setup. PAST SITUATIONS: The setup is like this . If the expected correction happens, I will set pending orders on a new local high, stop loss below the correction and target on the next weekly resistance level. This setup can take around 150 to 200 days. The risk I will be taking in this situation is 3% of my trading capital. Thanks for reading! Feel free to share your view and charts in the comments.
TVC:USOIL
by ThinkingAntsOk
4
Brent oil price to remain elevated in range 84 - 90Hello traders, As predicted earlier, with OPEC+ increasing supply from the beginning of 2022, the price for oil rose up and above 85. Upside trend has taken a pause or in technical terms "retracement" or "consolidation" after a strong up momentum. As we can see in 4hrs charts upward momentum from 77 levels till 91. Now we will see prices move in range 84.5 - 89.5 for some time before it hikes to 100 levels. Brent oil outlook for now and for next two months is not good for oil importing countries. Reasons: 1. Increase in supply by OPEC+ and Shale gas producers cannot keep up with the demand. 2. Geo-political issue with Ukraine, Russia and NATO group of countries. 3. Frequent extreme weather is undermining the global supply chain making commodities expensive. Happy trading,
FX_IDC:USDBRO
by HerschelleGirnari
TS ❕ BRENT: to 94$The price of oil is strengthening its bullish potential more and more. As before, the price approach to 94 is expected. BUY scenario: Mainly growth is expected from the same level of 88.65. Longs are relevant from the current ones. But it must be remembered that closing the price under 88.65 cancels all purchases. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
TVC:UKOILLong
by UnknownUnicorn15614419
1
BRENT CRUDE OIL BULISH PATTERNBRENT Crude Oil opened with a bullish gap yesterday after the weekend, but it managed to cover it during the trading day and to revert back in long direction, although not managing to reach the levels of yesterday's open. The Upper and the Lower Band of the Bollinger Bands are moving closer together, which is an indicator that the BRENT had lost some of it's initial volatility, which may present a good point of entry due to shrinking spread. The 9 day Moving Average has crossed the 20 day Moving average, and the histogram of the MACD is increasing, which is an indicator for bullish traders to enter. 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:BRENTLong
by legacyFXofficial
WTI crude - the trend is higher but risks are increasing With OPEC meeting out Wednesday both Brent and WTI crude are front and centre this week – we also know higher crude prices are key for inflation expectations, and the move into $90 has supported US 5Y5Y swaps at 2.48%. Traders are buying into crude to hedge against sustainably high inflation, but It feels like the market is long of crude as a hedge against geopolitical issues in Ukraine and the perception of supply being impacted. Demand is still a positive factor, with views Q1 22 should see a 6.8% increase in demand, followed by 5.9% in Q2 – Along with low inventories and reduced spare capacity, these are two clear factors promoting analysts to increase Brent forecasts above $100, with a belief demand increases to 100mbd and the belief we could head into deficit this year. Looking at output, it feels almost a given that OPEC will hike output by 400,000 bpd at this meeting – with prices above $90 clearly if they don’t lift output as planned then the oil market will fly – but that would be a huge surprise. Could they hike by more than 400k? Perhaps, but I think OPEC will be happy that while we have seen a lift in the US rig count, and we haven’t seen a sharp pick-up in market share from US share producers. We also know there are nations such as Nigeria and Angola which aren’t producing as much as they can. Looking at futures holdings through managed money, the market is certainly long of crude but not at extremes. We also see steep backwardation in the futures curve, and traders are incentivized to be long to pick up carry from rolling down the curve upon expiration. We assess the risk to reward trade-off – firstly, let's consider crude has closed higher for six straight weeks. We saw seven consecutive weeks in September before we saw a 27% correction into $62.90, so the risks are moving towards another downside move. Last week we also saw a bullish engulfing, so its clear there is strong demand to buy weakness and flow is still bullish – so if we do see sellers into the mix, then last weeks low of $82.42 comes into play. On the daily, price is holding the 5-day EMA, so a close below here would spark interest, as would a rollback below breakout high of $85.75. A break here should see crude into $79.31 (the 38.2% fibo of the Nov/Jan rally), but it feels that on current dynamics this should contain the selling.
PEPPERSTONE:SPOTCRUDE
by Pepperstone
15
Which target do we look at for Brent ? According to Ichimoku, we're definitely bullish on long term. Prices are perfectly supported by Daily Tenkan during their ascent. With a Fibonacci Extension, I think that $92 is a probable target to look at. If this one breaks, we could look at the 1.618 Extension, at $109.9. Will depend on the evolution of the situation in Ukraine. A possible fundamental bearish news could be that the de-escalation leads to a decrease in the attractiveness of black gold and produces a pull-back in prices, towards the Kijun Daily as first support. What do you think friends ?
TVC:UKOIL
by Augustus1st
TS ❕ BRENT: positive wayThe oil situation most likely continues to develop in a positive way. Presumably, the support level at 88.65 will be the starting point for the continuation of the upward momentum. BUY scenario: The 88.65 level would be a good place to place a buy order. Growth target level 94. This idea is medium-term. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
TVC:UKOILLong
by UnknownUnicorn15614419
3