Falling oil pricesIn my opinion, oil can experience a heavy drop in the coming days
I can't say exactly how many days, but it will happen soon
So be careful in your purchase transactions
Brentcrude
Sasol is continuing to tank further to R225.43Bear Rectangle is forming on Sasol as it previous did a few months ago. There are bearish signals as the downtrend is continuing.
The 200 > 21 >7 MA which once the price breaks below R277.95 we will have our next target at R225.43.
This confirms with the ongoing drop in oil price...
Brent is in nomans landRectangle Formation has formed on Daily and it's anyone guess where it's going.
On the bearish side, 3 Black Crows candles have formed as the price touches the medium beartrend line.
We need to wait for a breakout before we do anything...
Bull $120
Bear $67.65
POtential Ascending Triangle on Brent Crude to $122Potential Ascending Triangle on Brent Crude forming. We are just waiting for the price to break up and out of the resistance and then the first target will be around $122...
Moving Averages look good 7>21 <200
Brent Crude heading back up to $122Cup & Handle has formed on Daily and now we are just waiting for the breakout of the brim level.
7>21 <200 almost perfect. We just need the price to cross above 200MA
First target $122
Brent Crude Oil Simple Chart AnalysisIf you can recall back Oct 20th Crude chart guidance was to monitor its retracement ended. We can also see there are red chip progressing during those rise period. So i assume if tomorrow crude future turn green, very likely it will goes beyond 100 here.
Sasol, a bit of resistanceJSE:SOL is now trading on a declining 200MA, the stock met resistance at the 200MA. TVC:UKOIL , if JSE:SOL has any relationship with it, is also trading below a declining 50MA. Negative setup.
Brent tanking soonBrent is in a predominant falling wedge channel.
As I have mentioned this week, channels are always stronger than breakout patterns.
So we need the price to break below or above a certain level, before the price stops meandering...
The first target is to the top of the channel at $97 then down to $88 (channel).
If the price breaks below the channel then we could see a target of $67.65
I am bearish with Brent STILL.
Go with trendWe keep making lower highs and lower lows so I'd rather going with trend than fomo in.
We might see reversal if that area is broken
Sasol, short?TVC:UKOIL is still on the downtrend, and JSE:SOL seem to be following it. At the moment I wouldn't be surprised if JSE:SOL test R245/share.
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.
$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 $101.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
UKOILThe brent oil has reached a major resistance , it needs to retest the previous resistance and then decide where to go.
Brent Crude ⛽️Oil⛽️ Analyze!!!Brent Crude ⛽️ Oil ⛽️ has passed the main wave W by Zigzag structure (5-3-5). Oil could finish Expanding Flat (3-3-5) or Main wave X at 138.03$ . 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.
Brent Tanking Dont leave meBrent looks like it's on its way down!
Broken below a Falling Wedge (which is rare).
The RSI continues to make lower highs. and so the first target is around $67.65
Intraday Brent Crude Oil TradeSimple technical analyzes. Trying to capture a quick swing upwards before the overall fundamental outlook comes into place.
RUSSIAN MOBILISATION - BRENT - LONGThis graph is a representation of my point of you of the futures market (USD).
US BULLISH PRICES - WINTER NEAR - BRENTThis graph is a representation of my point of you of the futures market (USD). First SHORT as people will stock up before winter and hold then LONG once winter hits Europe and fear of lack of Russian oil supply will stop in December.
OIl on up On the weekly chart, there is ether a strong Falling Wedge in the making.
If the price breaks up and out of the Falling Wedge, we can expect the price to move up to $155.000
If Brent Crude forms an M formation (Double top), it's possible for Brent Crude to be bearish and on the way down. But we need the double top to form first.
What are your thoughts...
UKOILHello guys this is my trading idea about UKOIL .
IF you like my work please like and follow
Thank you TURTLE TRADER 🐢
Brent: Territory 🐻The bears have their territory under control and plan to extend it further, more precisely, till the blue lake between $76.67 and $70.61, where they should fish for the end of wave 3 in blue. However, there is a 38% chance that the bulls could make an appearance and challenge our furry friends. This challenge, though, should only be successful if they can make it above the resistance at $107.64. And even if they can assert themselves, their influence should merely last through the turquoise zone between $109.81 and $118.58. Then, the bears should regain power.
UKOIL back to Prices before February 24th? This graph is a representation of my point of you of the futures market (USD).
