Get started

Brentcrude

BULLISH TRIDENTWeakening in the short-term, stronger in the long-run. In the scenario of a lower crude oil inventory and Opec and Russian Crude Oil Export cuts, we identify a trading opportunity for a long-term position. Brent crude oil could move back to the moving average levels of $53/bl to then reassume a bullish pattern. The crude oil market continues oversupplied just three weeks after the OPEC meeting where members countries agree to reduce production by 1.2 million barrels per day in January 2017 subject to a commitment from Russia to cut production. Since then, it appears that Saudi Arabia and Russia continue producing at records levels whilst US inventories continue being a hot indicator for traders and investors. On Tuesday, December 19, the American Petroleum Institute’s (API) weekly report indicated a substantial draw in the US crude oil commercial stock levels. Today the U.S. Energy Information Administration (EIA) on its weekly petroleum report surprises the market with an increase of 2.25 million barrels. Regardless of the inventory level, the market seems to seek an upward trend. However, different indicators suggest a short trade with the crude oil weakening to levels close to the moving average where triple tops test a relevant price level. In the long-term, we see crude oil price to bounce back and resume the channel drew by the trident.
CLong
by QuantVox
BULLISH TRIDENTWeakening in the short-term, stronger in the long-run. In the scenario of a lower crude oil inventory and Opec and Russian Crude Oil Export cuts, we identify a trading opportunity for a long-term position. Brent crude oil could move back to the moving average levels of $53/bl to then reassume a bullish pattern. The crude oil market continues oversupplied just three weeks after the OPEC meeting where members countries agree to reduce production by 1.2 million barrels per day in January 2017 subject to a commitment from Russia to cut production. Since then, it appears that Saudi Arabia and Russia continue producing at records levels whilst US inventories continue being a hot indicator for traders and investors. On Tuesday, December 19, the American Petroleum Institute’s (API) weekly report indicated a substantial draw in the US crude oil commercial stock levels. Today the U.S. Energy Information Administration (EIA) on its weekly petroleum report surprises the market with an increase of 2.25 million barrels. Regardless of the inventory level, the market seems to seek an upward trend. However, different indicators suggest a short trade with the crude oil weakening to levels close to the moving average where triple tops test a relevant price level. In the long-term, we see crude oil price to bounce back and resume the channel drew by the trident.
CLong
by QuantVox
1
BCOUSD @ 1h @ recovery is imminent (this 51th week)Between 54.015 & 53.800 and between 53.800 & 50.800 the big picture is still bullish ... Start of last week we got a good news from the OPEC - as the price rocked Up (from 53.130 until 55.501). Suitable in this context is maybe the technical fact, that while the 2nd half of the week, traders traded BCOUSD in a trend-reversal-formation (something like a w wave). And that the price also breaked out of the downside trend (since mondays weekly high & tuesday intraday high). All in all, this fits the great overall picture, in my opinion! In principle, even between 54.015 & 53.800 and between 53.800 & 50.800 a pretty slightly bullish chart ... 56.027 (a) horizontal line - yearly high 2016 55.270 (b) horizontal line - tuesday intraday high 54.684 (c) horizontal line - wednesday intraday high 53.663 horizontal line - (high, start) wave formation 53.458 horizontal line - (high, middle - 1st of 2) wave formation 53.430 horizontal line - (high, middle - 2nd of 2) wave formation 53.423 horizontal line - (high, end) wave formation 53.032 horizontal line - temporarly high of last week before 52.695 horizontal line - (low, start) wave formation 52.511 horizontal line - (low, middle) wave formation 52.113 horizontal line - (low, end) wave formation 51.585 horizontal line - end of startline (last upside trend of last weeks before The highs of the w wave (even horizontal lines) are usefully to get long again or even if you`re not long (more or lesse around 53.663, 53.458, 53.430 & 53.423). The temporarly high of last week before is so much important, at least in my opinion, `cause prices above are confirming even a trend-reversal-formation. On daily candlestick charts you can see and realize better what i mean :) How ever, also the lows of the w wave are usefully to get long, but this would be much more interesting for scalper or even intraday trader. `Cause if the prices around 52.695, 52.511 & 52.113 not holds, 51.585 ios still in play. But all in all as i said at the start BCOUSD prices between 54.015 & 53.800 and between 53.800 & 50.800 are making the big picture is still bullish ... Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) This is only a analysis (for swing traders) - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
OANDA:BCOUSDLong
by Devise2Day
Potential Upside in Brent Crude Oil (Cont'd)Continuation from previous post, and adopting @pipizer feedback in the comments: 1. The past few days has saw a drop in the price mainly due to reports on OPEC output in October reached an all-time high. This lead to a further decrease which finally complete the Cypher Pattern. 2. A reversal candle (hammer) was formed the following day (14 Nov) with a long tail signalling bulls overcoming the bears at EOD. Mainly driven by renewed hopes of OPEC output deal. 3. Breakout of previous day hammer lead an opportunity to long and my entry was around the area stated, with a Stop Loss placed around the support region indicated. 4. I have identified 3 potential resistance zone and they fall nicely into the fib retracement 0.236, 0.382 and 0.618 area. 5. The first resistance zone break will cause more conservative traders to go on a long due to a 2nd breakout and short position traders will start covering their shorts which becomes the driving force to push further up. 6. Still, upcoming OPEC deal will be the crucial driving force for it to either trumps or fall. It will still be volatile during this period. 7. My exit strategy will be on a trailing stop in this case.
TVC:UKOILLong
by akenii
Potential Upside in Brent Crude OilMy first trading idea, here to learn from the experts, please give feedback on this idea. Several Signals I have identified: 1. Cypher Pattern has confirmed potential reversal zone 2. A support level at 45.48 area is forming 3. Still in an long term upward trend 4. Catalyst moving it up would rely on upcoming OPEC deal on production cut What to do now? Wait for a reversal candle to affirm confirmation of entry. Trade on breakout of resistance 47 area.
TVC:UKOILLong
by akenii
2