Brentcrude
Brent Crude Oil Double Bottom Reversal Pattern?Technically it seems brent crude oil making the double bottom and sentimentally the bulls doesn't wanna lose the ball out of its feet and defending it from bears. Overall at the moment seeing this price action technically we see momentum are in favor of bulls where stochastic just left the ground from the oversold zone. I assume this oil might have upward space in the near future further which we have to keep eye on.
BRENT OIL | Bearlish scenario | UpdatingPossible BRENT oil movement based on Elliott theory and Fibonacci proportions
Updating last idea
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OIL, Winter is coming...What a bloody day and more to come. A lot of people might ask why? And How That's possible? Is this a bullish sign? Are they gonna pump it out? Moon!? The answer of all of these questions are a simple "No"!
But why?
First, institutional moneys from both big investors and governments are moving to safe haven in order to keeping them away from loss or less
Second, Some people or governments for dealing with current situation need money. So they will dump every share they have whatever it takes. They start with whatever they have more or whatever they don't need first. Oil of course, is the last thing you want to keep in Corona Virus crisis.
Now what will happen?
We're gonna go up for a few days for hunting some newbies, market now needs some fresh money. Then we tank down to target
My two lines for BrentDue the latest worldwide events and seeing that DJT transportation index seems not performing well... Bad news also coming from that cartel OPEC represents I decided to setup my position against brent.
Here are my two levels based on FIBO lines.
What are your thoughts? Do you really think that the price of the barrel will continue to plummet? Will we reach $ 20 soon?
Please feel free to comment. Glad if you share this too. Thanks!
BRENT - Great chance for growth! 05/03/0202Friends, support this idea with your Like and any Comment. Thanks.
I expect the start of price growth BRENT in the framework of the impulse wave C.
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A clear view of Brent Crude Good evening traders, I hope all is well today I'll be taking a look at Brent crude it looks like we have broken a period of consolidation and we shall continue trending upwards I've entered a few trades on a small account I realized that I have entered a bit late but thats alright as I could see Brent crude continuing to go up from this point forward, also I personally like to wait to enter into my trades a little late to make sure that my analysis is correct. Let's see how much I could get the small account up to by the end of this week! I'll also be sure to post updates of the account by the end of the week.
Please leave a like If you agree with my analysis or leave a comment with your view on Brent crude.
Have a wonderful day all, and if you ever need help with forex shoot me a DM I would be more then glad to help you out! :)
🛢 BRENT OIL - Entered zone of verbal INTERVENTIONS USA&SAUIn this zone, I expect a BUNCH of bullish info-occasions into the oil market and bullish forecasts of energy organizations and OPEC. Thumb UP👍 if you agree with me!
Although the United States and Saudi Arabia are already competitors in the oil market, they are in the same team in this zone and will do everything possible to prevent a strong collapse in oil prices. And if this happens, then such a failure should not be long in any case...
There are 3 very important reasons for this:
1) the Saudis' budget is burning.
2) the US problem is even more serious - almost the entire oil industry is sitting on a wild leverage before banks (very large debts to banks - just a cosmic exposure)! Low oil prices = defaults from shale producers = defaults from US banks = disaster.
3) the impact of coronavirus on energy quotes can be called short-term, since factories in China are already returning to work.
Technical Indicator 12H:
1) Awesome Oscillator - turned to green zone and started rise up.
2) Stochastic RSI - started to rise up from the undervalued zone.
Summary:
Buy on pullback around 55.15 and sell in 67 zone. Its more than 20% profit. Stop-loss could be around 53.37
Oil Drops -3% + OPEC Officials Meet in Bid to Stop Falling PriceHeadlines:
- Oil wipes off another -3% as further fears of Coronavirus spread within oil markets
- Turkish forces strike back against Syrian forces as form of retaliation for the other day’s strikes
- Trinidad cancel plans for joint venture with Venezuelan PDVSA as sanctions hit hard
- OPEC leaders set to continue rushed talks in a bid to stop the drop in global oil prices
Asian Equities Mixed in Overnight Session Whilst Oil Futures UpHeadlines:
- Asian equities were mixed during the overnight session as traders try to weight risk of the Coronavirus
- Crude prices rose during the Asian session up more than +1.6%
- WHO announces the Coronavirus as a Global Outbreak
- Baker Hughes Rig Count to be released during the US morning session
USDBRO approaching support, potential for a bounce!
USDBRO is expected to drop to 1st support at 60.28 where it could potentially react off and up to 1st resistance at 63.90.
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USDBRO bounced from support, potential for a further rise!
USDBRO bounced off 62.04 where it could potentially rise further to 64.30.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.