Brent Crude : Long -- Target -- 55 - 58 !!From the start of 2017, Dollar and Crude both are in sync !!
Well the final crude rally is somewhat now restricted to upper base of $ 58 ..
Our thought was it might reach $ 70 but the way this final Wave C is moving it might just make a double top around $ 58.
Longer Term View : Brent Crude to go below last low of $ 30's maybe somewhat around $ 20 !!
Shorter Term View : Possible Upside to $ 55 - 58 in coming next 2 months max.
SPX500 : As goes Crude there goes SPX500 -- The bull rally is expected to continue by the year end and then it might follow Crude by Q1 of 2018 !!
Brentcrude
Brent Crude Oil starting to break major support,watch for drop!Brent crude oil is testing major support at 68.50 (Fibonacci retracement, horizontal overlap support) and a break of this level could potentially drive price all the way down to 65.96 (Fibonacci retracement, horizontal overlap support). It is important to keep an eye out on our long term ascending support line too which could serve as potential intermediate support.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Short Brent Oil under 70.65 / could be my best Oil Trade everShort Brent under 70.65 $/bbl for a long term trade (sell and hold)
SL @ 71.35
TP @ 61.10
I have little time to explain all the ideas behind that trade, but will make a big analysis in few hours about the idea and the numbers in trade.
It will include fibonacci, EURUSD, the coming ECB meeting today and much more there.
Good luck!
I am in as soon we go under 70.65.
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Disclaimer: There is a very high degree of risk involved in trading forex and/or futures . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Brent Crude Oil above major support, watch for a break!Brent crude oil is starting to show bearish signs and a potential reversal. Our major support remains at 68.60 (Fibonacci retracement, horizontal overlap support) and a break of this would trigger a bearish move down to support at 65.98 (Fibonacci retracement, horizontal pullback support). We can see that price has made a recent bearish exit of an intermediate ascending support-turned-resistance line triggering a potential reversal.
Stochastic (34,5,3) is seeing a pullback to 54% intermediate resistance where we expect a further drop from.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Brent Crude Headed for $65, $75 or $80 in 2017?Brent looks bullish based on confluence/alignment of 3 technical methods.
1) Elliot Waves - a 5 waves down and a simple ABC correction (with equal length A and C legs for a conservative target) gives C at $65.50. If C is equal to the high of the 4th wave the target is $69.60
2) Inverted Head & Shoulders gives a target of $78.65
3) The candles at 50% of the 3rd wave create a zone around the $80 level
We need to see a weekly close below $52.50 to put the above in doubt
BRENT CRUDE OIL - BUY! Long Term At 15.01.2018 quatation tried break up resistance created by the low range of the 11.2014 candle TF 1 Month.
Now we've got little correction.
But we've got also a strong bullish chanel built from june last year.
So ... we have a few SZ's from 1D TF & resistance lines on the way up! this year.
And one pink TL.
But I think zones and all that stuff could be only a chance for local correction.
First target is around 95 $ (pink TL crossing channel), second target 100 $ (psychological barrier) and then mayby even higher?
With this speed & movement in this channel we can reach 100 $ level circa september this year.
Negation of this scenario:
- of course if OIL break down lower range of channel especially in the area of zones or resistance - it could be biggest correction, consolidation or even change of actual trend.
- if OIL break up channel- then the appreciation can be faster.
I think TA in TF 1 Month could be very helpful too. Check up place's where the candle bodies contact each other in this TF.
And check up fundamental economic events such OPEC decisions and oil reserves.
US Oil - Re-test Of Support To Provide Long OpportunityA late break last week above the 56.83 area hints at further advances next week. A pullback and re-test of this area will provide a great place to start to look for Bullish patterns for longs towards 58.79.
Brent Crude: UKOIL Last long shot,ready to reverse here if wrongBrent Crude Oil UKOIL Last long shot with tight stops ready to reverse here if wrong
Right on key support at 62.18 with a low at 62.14. If this fails
here the entire wave from the lows is exhausted. At this
point, if seen, we switch from buying dips to selling rallies - it
will fall away to 61.15, bounce some and then likely fall away
to 59.44 and potentially much lower still.
This is the 4th strike on this parallel. Normally 4th strikes are
good with the parallel only usually losing its power on the 5th.
This means that Brent is a speccy buy here with stops under
62.10 for small 8 pip loss if wrong from here. And if we are,
then that lower parallel gives way and we then switch on a
sixpence to bear stance from bull, looking to sell off the
underside of the parallel if touched again with stops above
by 10 to 15 pips max.
Crude Oil OutlookCrude Oil (WTI) CMP $ 58.
Weekly chart :
1) Crosses 200 period EMA after a brief consolidation in the form of a RdB pattern.
2) HHs and HLs formation observed.
3) Upward sloping trend line support suggests price is in the course of uptrend.
4) $62-$63 minor resistance seen. Above this level, $100-$110 can be seen very easily.
5) All along 30 week EMA should be kept as the exit level.
6) This chart reveals the key risk to developing nation equities.
oil price dive coming soonrenewables +natural gas keep eating up demand
middle east tensions cant be manufactured forever ISIS in retreat
IRAN treaty will stay intact
BRICS continue to pivot to renewables/ post-US empire allies
WTI Regression On a daily chart WTI has performed under an Elliot Wave Pattern since July. It's final trend wave ended on late September with help of OPEP statment of commitment to current output and Turkey's threat to cut oil production.
Since then bears have taken control in Oil industry. Wave A managed to touch Fibbonaci 38% level before entering wave B. Although we can't confirm at this stage final price of Wave B since it needs to show some red candles. As for now prices can still go further up and break $53 level.
However if this doesn't occure this week. Prices are projected in a downtrend forming Wave C. Most optimistic scenario would be Fibonacci 50% at $47.50.
For more analysis visit www.investing.com
US Oil - Bear Flag?Last week Oil sold off below the key area of support at 50.33. This week we look for further declines in Oil with a retest of the 49.94/50.33 area of (now) resistance providing a great place to look for potential shorts down towards the target of 48.59.
US Oil - Pullback To Key SupportAfter selling off late last week US Oil is approaching key support at 50.81 which we will provide Bulls with a great place to start to look for potential longs and a continuation of the overall uptrend. The next key areas of resistance and targets to the upside are 53.68 and 55.11 respectively.
Brent Crude Oil inverse head & shoulders - long-term TP ~$78-88BCO/USD is showing a potential inverse head & shoulders on the monthly chart. long term target prices are labeled in the chart. first tp is a probable support level, second tp is based on pattern projection.
this is based on pure TA, so as always, it could be wrong.
trade at your own risk.
UKOILon the run without words... Now we look for the bottom.
The long adivse is not confirmed now! So watch for yourself.
I wrote some month ago we see 42 again. Maybe only 44 - 43 so look on your timeframe what happen and than look for a long after oil has a bottom. Good luck for all.
Oil - Brend Crude ( UK )This is a good opportunity for trade - keep watching and will give you soon profit!
see which level will be broken :)
Good Luck!
Bullish BRENT CRUDE for 8/218/18's candle closed above the 3 SMMA after closing below on 8/17. Therefore, I am expecting 8/21's candle to close above the 3 SMMA .
I will be looking for buy signals on the hour time frame that look similar the buy signal on the daily that you see here (candle close below 3 SMMA , then candle close above 3 SMMA ).
This is a day trading technique and I will not hold any position over night.
My plan is to place 2 trades once I get a buy signal on the hour time frame. One trade will have a 20 pip stop and a 20 pip take profit target. The second trade will have a 20 pip stop and no take profit target. The second trade is designed to grab any strong bullish movement for the day. Each trade is worth 1% of my beginning daily account value.
Brent entry long started, target 53.04Brent entry long started, target 53.04, with a probability of 80%
BRENT - ADX / ADM - TS V. 2.8.4 - Intraday Levels for 09/08/17
ADM - Average Daily Movement - Intraday Levels
Entry on close 1H (hourly candle) ... if exceeded the indicated level
on the contract CBV17 - Oct '17
LONG if> 52.43
TP1 = 53.04
TP2 = 53.71
TP3 = 55.07
Stop Loss = 51.49
SHORT if <51.49
TP1 = 50.88
TP2 = 50.21
TP3 = 48.85
Stop Loss = 52.43
Brent UKOIL - testing significant 53.00 resistanceOn the Brent oil chart you can now expect a test of significant resistance at 53.00. This level has previously been equivalent to the 50.00 level with the WTI. A successful breakout of 53.00 will allow growth to further resistance: 54.00, 57.50.
