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BRENT CRUDE OIL may drop in price by as much as -65%Today we would like to share my opinion on the possible price of Brent Crude Oil in the coming years, analyzing the chart on a monthly timeframe The war in Ukraine is not just a war between the two countries, it is a geopolitical problem that will affect all world economies. The world's economies have not yet recovered from the Covid-19, and here is another blow. Expensive energy will stop buying due to the excessive cost of production of "everything", the purchasing power of the population falls. Declining demand for oil will bring down the price. The fall in the price of Brent oil -25% in the coming months in the area of ​​$78-80 per barrel will be just the beginning. But looking at the schedule, is striking the price zone of $36-46 to be a strong mirror level and this is -65% of the current price Maybe this is a fair price for oil, from where a total restart of the world economy can take place by purchasing cheap energy resources. Perhaps this is symbolic, but for the first time on the historical price chart of Brent, the zone of $36-46 was established as important when there were powerful geopolitical world changes: 1979-1980 - the Islamic Revolution and 1990-1991 - the collapse of the USSR
TVC:UKOILShort
by P_S_trade
109
Brent Crude Oil Price Is DecliningBrent Crude Oil Price Is Declining Amid De-Escalation in the Middle East On 8th July, we noted that oil prices were forming a large narrowing triangle, originating from 2022-2023, with its upper boundary being a significant resistance point. As shown on the Brent oil price chart (XBR/USD), bulls have since failed to overcome the upper boundary resistance around $87. Subsequently, the price: → turned downwards, breaking the blue upward trend line; → eventually breached the support level at $84, which we highlighted on 8th July; → Formed a descending channel (indicated in red). Bearish sentiment is driven by: → news of increased oil inventories; → reduced tensions in the Middle East. Israeli Prime Minister Benjamin Netanyahu stated that an agreement with Hamas on hostage release is "maturing." What’s next? Technical analysis of the Brent oil price chart indicates: → The price is at the lower boundary of the red descending channel, which may provide support. → The accelerated decline since Friday has resulted in a loss of over 4%, potentially prompting bears to take profits. In the short term, a bullish correction to the median line of the red channel is possible. The holiday season, currently in full swing, could also support oil demand. What about the long term? Reuters reports an oil price forecast from Morgan Stanley analysts, according to which, although there is a clear deficit in the oil market, they expect that supply and demand will reach equilibrium by the fourth quarter, and by next year there could be a surplus, resulting in prices for grade oil Brent will fall closer to $70 per barrel. If accurate, this would mean the current narrowing triangle would be broken from the top down. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
Brent Crude is showing major upside to come to $96.00Ascending Triangle has formed on Brent Crude. We saw the price continue to knock up the resistance until it broke above. Price>20 and Price>200 So the target is likely to hit $96.00 When the US Dollar depreciates, it often leads to a rally in Brent Crude prices for several interconnected reasons. 1. Commodity Pricing Global Benchmark: Brent Crude is a major global oil benchmark. Oil prices, including Brent Crude, are typically denominated in US dollars on international markets. So when the US Dollar weakens, oil becomes cheaper for holders of other currencies. This increased affordability can lead to higher demand, pushing prices up. 2. Investment Flows A weaker dollar drives investors towards commodities like oil as alternative investments, contributing to price rallies. 3. Economic Implications Dollar depreciation often signals global economic growth, boosting energy consumption and pushing up oil prices. 4. Inflation Expectations Oil is purchased as a hedge against inflation when the dollar weakens, raising demand and prices for Brent Crude. 5. Energy Sector Investments A depreciating dollar lowers operational costs in the energy sector outside the US, potentially tightening supply and elevating oil prices.
ICEEUR:BRN1!Long
by Timonrosso
UKOIL (Brent) Technical Analysis - VideoIn my previous post, I shared my analysis on Brent crude oil. Here's a video explaining the reasoning behind my trade idea: Currently, Brent is trading within a daily range-bound channel. It's pushing against the upper boundary, which hints at a possible retracement to test previous lows. Interestingly, historical data over the past decade suggests that March tends to be a bearish period for Brent. Disclaimer: Remember, this analysis is based on technical factors and should not be seen as direct financial advice. Trading commodities is inherently risky. Before making any trades, always consult with a qualified financial professional and carefully consider your own risk appetite.
TVC:UKOILShort
by fxtraderanthony
UKOIL (Brent) Technical AnalysisBrent crude oil is presently confined within a daily range-bound channel. The price is currently testing the upper bounds of the range, suggesting a potential retracement to retest previous lows. This analysis incorporates a seasonal perspective – historical data over the past decade indicates a tendency for Brent to experience declines during the month of March. Disclaimer: This analysis offers a technical viewpoint and does not constitute direct financial advice. Trading commodities carries inherent risk. Always consult a qualified financial professional and carefully evaluate your individual risk tolerance before making investment decisions.
TVC:UKOILShort
by fxtraderanthony
Oil upward move!Hi all, been away for a while now. really had to take a step back and rethink my whole take on this market and especially the oil market. Cant figure out where the market had to go and why it did not respond to all the news and macros in the market. But here is my take on where the oil prices have to go for the next couple of weeks/months. I have the following points on the graph and with the current conditions in the market, the war in the Middle east, missles in the Bab al-Mandab Strait which have resulted in several ships stopping their travel through the strait. TP1: 81-82 TP2: 93.5-94 Good luck!
TVC:USOILLong
by Hvalp
UK Brent 4H : Still trades at the bearish channel UK BRENT OIL New forecast The price of Brent crude futures rose sharply in the past sessions, reaching the top of the descending channel and confirming the continuation of the dominance of the downward trend in the immediate term, paving the way for achieving additional gains starting at 80.00 and extending to 78.87. Therefore the downward scenario will be remain valid and effective during coming period and the moving average 50 still support the price to decline , taking into account that stabilized above 82.11 will force the price to get out of bearish channel and will start a positive trades . The expected trading range for today is between support 78.87 and resistance 82.11 . Be careful because of the war between Palestine and Israel, we may witness unexpected movements . support line : 80.00 , 78.87 resistance line : 82.11 , 83.05 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
TVC:UKOILShort
by Arazmajeed
6
UKOil Brent Technical Analysis And Trade IdeaIn this video, we embark on a comprehensive analysis of UKOil, with a specific focus on the prevalent bearish sentiment observed in the 1-month (1M) and 1-week (1W) timeframes. Notably, our charts reveal that Brent has approached a critical support level, a pivotal juncture. Throughout this presentation, we delve into the fundamental tenets of technical analysis, encompassing essential components such as evaluating the current market trend, price dynamics, market structure, and other indispensable aspects of technical analysis. As we progress through the video, we meticulously scrutinize a potential trading opportunity in Brent Oil. It is imperative to stress that the insights shared in this content are exclusively intended for educational purposes and should not be misconstrued as financial advice. Participating in the foreign exchange market trading carries a significant level of risk. Therefore, it is vital to prudently incorporate robust risk management strategies into your trading plan to navigate these challenges effectively.
TVC:UKOILShort
by fxtraderanthony
Oil Brent - H4Oil Brent *Updating the idea and how to act* Long - ABC correction structure has come to an end - You can observe an impulse rebound after the fall, which can lead to further growth and the 5th wave on W1 The nearest target is at 95.90 This scenario is best used to exit the triangular formation on H4 when the level of 87.85 is broken - with the cancellation of this movement and without increasing risks if the breakout turns out to be false at the level of 85.09 Short - If the price does not continue to move upward, and this was a full-fledged reversal, in the continuation of the 5th wave on D1, the nearest targets will be at the level of 74.30 In this scenario, you can consider selling from the level of 85.09 - with the cancellation of this movement and without increasing risks if the breakout turns out to be false at the level of 87.85. What to expect now? Waiting for the breakout of the level for Long - 87.85, local target 95.90 - 98.10 When opening a position, it is best to exit the position from the level of 85.09, if this scenario does not materialize. Waiting for the breakout of the level for Short - 85.09, local target 77.77 - 74.30 When opening a position, it is best to exit the position from the level of 87.85, if this scenario does not materialize. Long Targets 90.17 - 92.49 - 94.63 - 98.10 Short Targets 82.28 - 79.30 - 77.77 - 74.30
TVC:UKOIL
by Trade_Hive_Signals
The increase in Brent Crude ⛽️Oil⛽️ prices due to the WAR🚀➕15%😔Unfortunately, in recent days, there has been a war between Israel and Palestine, and I hope that this war will end as soon as possible.🙏🙏🙏 🧐Now, how can the effect of this war show itself in the oil chart❗️❓ 💡At the same time, as geopolitical tensions increase throughout the Middle East , oil prices are likely to rise even more. Meanwhile, US Strategic Petroleum Reserves (SPR) are down to just 17 days , the lowest in history. This is almost half the historical average of 33 days dating back to 1990 . 💡In addition, OPEC this week reaffirmed its commitment to voluntarily cut production to a ceiling of more than 1.5 million barrels per day. 💡In the days when Russian crude oil exports are limited, and the world's largest oil producers are also at war. 😱There's never been a worse time to have an unloaded SPR than today. 📈In terms of technical analysis, Brent Crude Oil is moving near the bottom of the ascending channel , 🟡 Price Reversal Zone(PRZ) 🟡 and SMA(100) . 🔔I expect that starting next week, the trend of Brent Crude ⛽️Oil⛽️ will rise and at least reach the 🔴 Resistance zone($100.48_$95.80) 🔴 again( ➕15%) . ⛽️Brent Crude Oil⛽️Analyze (USDBRO), Daily time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
FX_IDC:USDBROLong
by pejman_zwin
24
Crude trader - trying to price certainty in conflict The high on our Brent crude price has been $89.68 – hit at midday – but while our clients are long of crude (65% of open interest is held long), we’re seeing better sellers in the broader market, as we roll towards EU trade. The early rally felt reasonably orderly, but a lot of questions were being asked and without many immediate answers to obtain the certainty we crave as market participants - so naturally in this backdrop we get outsized moves, as a lack of clarity causes dispersions in price. When it comes to knowledge most market participants are now military experts and have quite poor knowledge of Middle East relations – again this makes it harder to price risk. Our US crude price sits up 3.8%, off the earlier highs of $87.45 and holds the 50-day MA – should EU/UK traders come in and buy the slight intraday dips then $89.03 is the level to watch topside for supply. It could go either way, but on balance I favour selling into intraday rallies. Today been some reversal after the recent drawdown in crude into $82 – positioning played a big part in that run, but we had seen signs that the Saudis may look at increasing production at year-end. We had even seen positive steps at a geopolitical level; brokered by the US, an agreement that Saudi would recognize Israel and as MBS said, forge “the biggest historical deal since the end of the Cold War”. Instead of this positive backdrop, we have seen a 180-degree turn with Hamas's attack on Israel, with the market now questioning if we could see engagement with Hezbollah and Lebanon. With President Biden standing firm with Israel, the view is Iran’s oil exports which have been growing will be cut. If we look at Crude ‘time spreads’ – that is, front-month crude futures – June 2024 futures - we see this +$0.97, so modestly higher – if we really felt like Saudi production was going to get impacted by the unfolding situation then this would higher still. If in doubt, switch gears and head to Nat Gas which is building on the recent breakout and looks like it may start to bull trend.
PEPPERSTONE:SPOTCRUDE
by Pepperstone
BRENT OIL ( UK OIL ) LONG term Trade AnalysisHello Traders In This Chart UK OIL HOURLY Forex Forecast By Forex Planet today UKOIL analysis 👆 🟢This Chart includes_ (UKOIL market update) 🟢What is The Next Opportunity on UKOIL Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
TVC:UKOILLong
by ForexPlanet20
Brent above @$100 might not be a myth !Brent have two recent bottoms 1.June 2023 ($72) and 2. August 2023 ($82.5) and has rallied more than 33% since July. The rally still looks to be continuing without till 496, $98.5 and $100 very soon. Given the strong momentum buildup and supply cuts from OPEC+ has given the oil a due rally which the cartel was expecting since June 2023. Technically speaking levels of $126 are also on the charts as the commodity is breaking out of a Declining wedge pattern which was in formation from Jul 2022 to Jul 2023 a strong supply side pressure will be giving the commodity due advantage to rise above $100 to $125.65 as we can see.
TVC:UKOILLong
by chandakpulkit
BRENT OIL ( UK OIL ) LONG term Trade AnalysisHello Traders In This Chart UK OIL HOURLY Forex Forecast By Forex Planet today UKOIL analysis 👆 🟢This Chart includes_ (UKOIL market update) 🟢What is The Next Opportunity on UKOIL Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
TVC:UKOILLong
by ForexPlanet20