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Brentcrude

USDBRO bounced from support, potential for a further rise! USDBRO bounced off 58.95 where it could potentially rise further to 61.40. *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.
FX_IDC:USDBROLong
by Pepperstone
GLOBALISTS AT IT AGAIN, OIL PRIMED TO RUN (BCOUSD)Hello traders. This weekend, YEMENI REBELS have taken credit for a MAJOR DRONE STRIKE on Saudi Oil production, affecting their total output by HALF and therefore decreasing global supply by 2.5%. Shortly thereafter, American officials turned to IRAN to place blame. The American government has been pining for this conflict for a very long time. With any luck, whatever your political leaning might be, President Trump will see through this facade and keep the brave American military OUT of such a conflict. There is no excuse for the exchange of human life for profit!!!! All this to say, BAD FOR EARTH, GOOD FOR OIL SPECULATION. The technicals on Brent Crude, though somewhat 50/50 in my eyes, show CLEARLY that oil indeed has room to run here. This Black Swan event could be the perfect catalyst to cause a major spike in price. There isn't much more to say. I will be taking a market trade here with a relatively tight stop. This will be a low Risk high Reward trade. Good luck everyone. Most importantly, stay safe my friends.
OANDA:BCOUSDLong
by vox-populi
1
Brent Crude Breakout?Awaiting for the close to confirm this breakout. Of course this would be a trade. I am still of the opinion that a recession is coming (or we are already in one) and oil will struggle. Really only geopolitics can change that. However, on Brent crude, we had a downtrend and failed to make more lower lows. Indicating that the buyers were stepping in and the trend was changing. We appear to be getting a confirmed break above this resistance level. Just awaiting the close. There is a flip zone at the 64.10 zone so watch how price reacts there.Otherwise 65 may be in the cards.
TVC:UKOILLong
by Uncharted-FX
BRENT - Important levels before US Oil Stocks announcementGlobal markets started this week following new tarriffs and statements between US and China. President Trump wants to decrease import of goods from China and also mentioned that US should undertake necessary steps to replace Chinese products. At G7 summit Trump pointed out that new economic and trading partnership with EU will be put on place. Also President Trump made a giant statement that he is ready to negotiate and meet with Iran's President Mr. Hasan Ruhani. These news, although sounds speculative but resulted markets inpredictable movements and uncertanity in Asian markets. UKOIL prices following a downtrend recently tested the psychologic resistance of 60USD. Tomorrow at the US Crude Oil Stocls announcements we are expecting a dropdown of crude oil stocks to 2.133M. This could support the trend reversal of the UKOIL prices and pump the price upwards. For short-term we can surely say that the price will test 60.27 and 61.00 resistnaces. Following resistances are 63.00 and 64.15. Brent in general is in a downtrend since the beginning of the year, we do not expect the price to be above 65.00 which is a very strong resistance, and sellers will do anything to bring the price down from there. Let's follow the price to test 58.35 and 57.60 supports and move towards 61.00. Support 1 :58.35 Support 2 : 57.60 Support 3 : 56.20 Resistance 1: 64.15 Resistance 2: 63.00 Resistance 3: 60.27 For other analyses (fundamental or analyses based on news and global reports) follow trend analysis rules Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
TVC:UKOIL
by UnknownUnicorn3931771
Is Brent Oil Heading towards 36 in a couple of MonthsIf respite do not come for Brent Oil in terms of buyers to increase demand between 50 and 55.25, the black gold is likely to make a higher low at around 36 in a couple of months. Looking at the chart, it took Brent Oil about two and half years to rally from its low at 27.08 in January 2016 to its high at 86.72 during October 2018. Since after that, it has being on a decline. Using this assumption one can expect Brent Oil to make another low around 36 (if demand is not drastically increased around 50 mark), in the next 2 years - 2021. OPEC, Non-OPEC countries and unconventional oil & gas producing countries actions and inactions have a big role to play in determining the future of the price of oil within this period... This analysis is based on my technical analysis opinion and not to be construed as a trading advise. PLAN YOUR TRADES AND TRADE YOUR PLANS
FX:UKOILLong
by BullBearMkt
UK OIL UPSIDE PUSH TO FOLLOW?Hi fellow traders. Looking at UKOIL right now, we can see that the RSI indicator has fallen towards the oversold region and is currently looking for a rally to the upside. Considering that UK Oil Supply is to remain the same, and with the UK Iran Oil Tanker tensions rising, it looks like UKOIL could look to push to the upside. At this point in time 64.20ish would be an ideal buy in position region. I have been considering a buy position from 64.05. Additionally, we can see that we could be rebounding from a critical support level at 63.90. In this case, it looks like it could be the perfect time to long this pair. For a quick bullish squeeze out of this pair, the main ideal target would be around 63.56. For a longer swing on this pair for a few days, looking from a bullish price action point of view, 65.00 region could be an ideal take profit region. Stops should look to be placed around the previously mentioned critical support level of 63.90. If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX & Crypto market, trying to learn FX & Crypto, and I'd appreciate any help people may offer! Please drop a follow! I need reputation points!!
FX:UKOILLong
by TheFinancialTRDR
2
Brent Crude OilAfter a perfect bullish move Brent Oil has reached an area where is facing horizontal resistance, downtrend resistance and it is at the upper end of the uptrend channel. I am foreseeing the price to come down to the lower end of the channel, at around 64.6 area where it will also be the lower end of the channel. On the 4H chart I want to see a break of structure, marked by the black line, before going short. If the price holds above it might signal a price compression and that is a bullish signal.
TVC:UKOILShort
by MicKi