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Brentcrude

Brent showing a further plummet to $67.89 Rising Flag has formed after the downtrend with Brent. The price has broken below the rising flag which confirms bearishness. 200 > 21 > 7 - Bearish RSI <50 Target $67.89 FUNDAMENTALS: We've seen the US Dollar start to strengthen a bit which is can continue to do so for the next few weeks. A strengthening US dollar can cause Brent crude price to drop because oil is priced in dollars. When the value of the dollar increases relative to other currencies, it makes oil more expensive for buyers using those currencies, which can result in decreased demand and lower prices. Additionally, a strong dollar can also make it more attractive for investors to sell commodities, including oil, in exchange for the higher-valued currency, putting downward pressure on prices.
ICEEUR:BRN1!Short
by Timonrosso
UKOIL: Short from ResistanceAs evident on 4Hr Time-Frame with formation of Bearish Cypher harmonic pattern UKOIL a reversal is possible. Seasonal Analysis shows JXY & DXY remain Bullish in January over 60% which have negative correlation with Oil. CXY on the other hand remain Bearish in January over 70% of times which indicates a low price of Oil. TPs can be set as per Fib Lvls identified on chart and stop Loss on or above Point D of Cypher. It is my expectation that price action will retrace to 61.8% Fib level. Manage your risk accordingly.
TVC:UKOILShort
by adnanmagsi
UKOIL: Bearish Reversal IdeaBearish Indications • Resistance Zone at 85.26 • AB=CD where the D point is at 85.93 which indicates a reversal • Gartley’s XABCD indicates 85.73 Area • Seasonal Analysis Shows DXY remains Bearish at over 80% in December month Bullish Indications • Three White Soldiers • Significant Support Zone at 0.68329 • Resistance Broken at 0.68629 • Support Zone at 84.23 • Seasonal Analysis shows UKOIL remains Bullish in December Month. Biased: Short Entry Short: 84.52 (Fib Level 78.6%) TP1: 0.68236 (Fib Level 61.8%%) TP2: 0.68085 (Fib Level 38.2%) Stop Loss: 86.20 Risk/Reward: 1:1.6
TVC:UKOILShort
by adnanmagsi
BRENT CRUDE OIL BULISH PATTERNDemand for crude oil is expected to rise after a cold wave hit USA, which will likely increase the demand for oil distillates, easing of the COVID measures in China and US crude oil inventories coming up less than the analysts have had expected. British crude oil benchmark, BRENT, had broken the resistance of the triangle pattern, a strong bullish predictor, and the price might reach levels of 87.5 in the next couple of days. In an event of reversal of the trend, the price might reach levels of its previous low of 75.35 RSI and MACD both are confirming the bullish outlook, with MACD histogram above 0 and rising and RSI rising as well and approaching the 50 neutral line. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:BRENTLong
by legacyFXofficial
Brent: Hang on! 🐻Bulls and bears are competing for preeminence, and both of them have gained the upper hand now and then. In the long run, we expect the bears to win this battle, though, and to drag Brent to the green zone between $77.10 and $42.16, where it should finish wave III in pink. After a short countermovement to complete wave IV in pink, Brent should enter the blue zone between $66.48 and $59.58, which is enclosed in the green zone and where wave V in pink and wave 3 in blue should end. Another countermovement should then lead Brent upwards again before it should dive into the green zone once more to finally conclude the overarching downwards movement. However, there is a 32% chance that the bulls could be stronger and drag Brent above the resistance at $95.76, which would then result in a detour until the next mart at $105.42 before the bears can take charge again.
TVC:UKOIL
by MarketIntel
$UKOIL - Production cuts will pump it to $101Hi guys! 👋🏻 🔔 Surprisingly low US inventories data supported a short-term uptrend of Brent crude, comforting the price to hit $90 this week. 🔔 OPEC+ meeting scheduled on October 5 will be on the watch, as the cartel suggest a production cut of 100,00 barrels per day (bpd). 🔔 Brent once again retested the upper edge of the descending triangle, although the bullish run is yet to be confirmed. The confirmation is set under a breakout from the wedge and closing of the price above $91.60. If that is confirmed, then we expect the price to move further to $98 and $101. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
TVC:UKOILLong
by azizelliott
1
Brent Crude ⛽️Oil⛽️ Analyze!!!Brent Crude ⛽️ Oil ⛽️ has passed the main wave W by Zigzag structure (5-3-5). Oil could finish Expanding Flat (3-3-5) or Main wave X at 138.03$ . Of course, the War can change my Scenario, but I don't expect Oil to break 177$ . I expect the Brent Crude Oil to go DOWN at least to the upper line of Descending Channe & Support Zone . Brent Crude Oil Analyze ( USDBRO ) Timeframe Monthly (Log Scale) 🔴 Resistance Zones 🔴 & 🟢 Support Zone 🟢 that we have in front of Brent Crude ⛽️Oil⛽️ . 🔴 Resistance Zone 🔴: 147$ until 135$ 🔴 Resistance Zone 🔴: 178$ until 159$ 🟢 Support Zone 🟢: 88.6$ until 83.3$ 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:USDBRO
by pejman_zwin
6