Brent oil is a cyphercypher harmonic pattern:
AB=0.61 XA
BC=1.41 AB
tp1=0.78 XA=$84
tp2=1.27 BC=$136
tp3=2 BC=$465
Brentcrude
Crude Oil - Buy Analysis Oil continues its bullish advance as Oil demand comes roaring back as governments across the world vaccinate their domestic populations and set up a global demand increase for Oil as OPEC keeps supply limited.
Investments banks such as Goldman Sach's have an extremely bullish view on the commodity, calling for Oil to enter a super cycle.
In this video I look at Macroeconomic data that predicts Oil prices and we also look at Volatility to know where the buying opportunities are if Oil continues its bullish trend.
OIL Daily - Pulled into buy zone ... waiting confoReversed off overhead resistance into our 65 buy zone. Would like to see daily bullish candle to confirm support. Bull flag still in play
Greedy Strategy Buy UKoilI’m thinking. Could lightening strike one place twice? I caught the top sell on Brent the other day, 100% move. This time I’m swinging the other way and looking for a sniper entry buy with little risk as possible. Idk, might be too greedy. Looking for a double bottom.
TRADE UPDATE TAKE PROFIT REACHED, OIL XTIUSD USOIL XTIOur first take profit target is hit!
We have now closed half the position and will look for continuation of trend.
I will update analysis when we have more information available.
If you like this idea or traded it with me please like and follow for more ideas.
ORIGINAL TRADE IDEA BELOW
Brent Crude: The Big Bear Show! 🐻🐻🐻It has been a while since we spotted bears on the oil market, but they came back in phenomenal fashion! With the yesterday’s offensive, they were able to pull the price shortly under the second support line at $62.36 – a crucial mark within our primary scenario. We expect that the price will further drop below $59.04. From there, we see a more comprehensive bullish run setting in to tackle heights of $80 and beyond.
Good opportunities are coming!
Brent Crude has peakedBrent Crude looks like it needs a retracement after its stellar recovery. On the weekly chart we can see that its overbought on all three signals. Oil producers need the price to stay above roughly $40 a barrel. In a controlled environment with limited exogenous impacts the price of oil should stay above $40 a barrel. That being said, $70 a barrel isn't going to work for the non-US consumer.
By early April we should see the chart reflecting a healthy retracement.
Oil producers have benefited from the recovery in the oil price and the increase in demand post lock downs. Perhaps now is the time to take profits or close out one's position in the oil industry.
Please note, this idea is shared for educational and discussion purposes only and should not result in speculative investment decisions in any asset class.
Brent crude soars on OPEC surpriseThursday's OPEC+ meeting became a market-mover event, as members announced that production cuts would be extended in April. This caught the market completely off guard, as OPEC+ was widely expected to raise output by 500,000 barrels per month. Instead, OPEC+ has opted to hold back some 9.2 million barrels from the market each day, until at least the beginning of May.
Crude responded to the OPEC+ announcement with sharp gains. Brent crude jumped 4.84% on Thursday, its highest one-day gain in two weeks. With an additional gain of close to 1 percent on Friday, Brent crude punched above the USD 68 line for the first time since January 2020. Oil prices have soared since November 2020, with Brent crude jumping a staggering 76% during that time.
The key question now for investors and traders is whether the uptrend will continue, or will we see a levelling off in oil prices. The fact that the global economy is slowly recovering from Covid-19 should translate into higher demand for crude and maintain upward pressure on oil prices. At the same time, OPEC members are notorious for not abiding by production limits, which could put a curb on higher prices.
In other news on the crude oil front, the EIA Crude Oil inventories report showed a record-high surplus of 21.6 million barrels. However, this figure was distorted by the recent Texas storm, which resulted in huge stockpiles due to refiners being unable to take on crude shipments. Prior to today's EIA release, nine of the past 11 readings have shown drawdowns, and with significant pent-up demand in the US economy, this trend could well continue.
Brent crude has broken above resistance at the overnight high of 67.72 and double top, with the next resistance at 71.52, which has held since May 2019. Support is distant between USD62.03 and USD62.48.
OIL Short to 54-55 USD For May 21Evidence of a head and shoulders pattern forming.
Already developed shoulder and a head structure.
Using FIB Retracement, designed a the first bottom that will decide the supporting line for the price in May 2021
UK Oil Buy Trade SetupHi Traders
Brent /UK Oil (H4 Timeframe)
A high probability, entry to go LONG has formed @ 65.51 after the market found support @ 65.03. Only the downward break of 65.03 would cancel this bullish scenario.
Trade details:
Entry: 65.51
Stop loss: 65.03
Take profit 1: 67.83
Take profit 2: 69.59
Take profit 3: 72.46
Score: 10
Strategy: Bullish wave LL TF
Brent oil 1H On 1H & 4H
Direction: Upward above 63.14
Target: 65.00 and 67.60
Stop line: under yellow zone
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my last idea about brent oil on 14Feb:
BCOUSD: BUYBulls would be taking profit today from last week's BUY order.
Drawing a fib on the daily chart, we are seeing a definite area for price to reverse, however, we are still in a Bullish trend on Oil.
We may see an opportunity for a short-term SELL for Bears to enter right around 59.73 .
Once Bears take their exit for that short-term order, we can definitely expect a new BUY Zone for Bulls to enter.
WTI day trade longHey guys!
Happy trading to all.
Today in the petro world we have the OPEC-JMMC Meetings which could move the Oil markets, brent, wti and the petro currencies.
Based on what I see right now I think WTI has a good chance of going up...
We are making higher lows and have a contraction in place.
Lets se...
Brent prices: no way down anymore, long run over $100 againThe price trends since 2008 looks like a re-accumulation. The last price collapse was possibly a spring. It was interesting that the test was the lows of December 2008.
I expect TVC:UKOIL will find support in the next days. I don't expect a price re-test of $30.
In the long run, we can expect the prices above $100, when the price is ready to pass over the re-accumulation zone.
USDBROUSA Brent Crude Oil has lost its 55$ channel and falls into 54~55 but the bearish power last week was so strong that I don't think that the chart may go back in its previous channel for now
so as the market open as the money flows in the chart goes a lil bit higher but it counts as a pullback and then more corrections so be ware with your assets if you are a trader and not a holder
its all price and fib retracements and 2 classic indicators (must be enough) for such a clear chart
Oil Time For Reversal - Short TradeOil Short Trade
Entry: $53.76
TP & RR: $52.41
Stop Loss: $54.51
REASONS FOR THE TRADE
So far Oil has respected the channel and I believe that it is now reaching a point of exhaustion. This upper trendline from the channel is also in confluence with a fairly strong resistance level, so I believe a small pullback is due.
The Stop Loss is well above the channel and similarly to the trade from a few days ago, if the price starts pushing up we will close the position because a spike up should follow.
