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Brentcrudeoil

BRENT OIL top-down analysison DAILY: BRENT OIL is approaching a strong resistance and GAP zone so we will be looking for objective sell setups on lower timeframes. on H1: OIL is currently trading inside our orange channel, so we are waiting for a new swing to form around our lower orange trendline to consider it objective and enter on its break downward. we also have a regular bearish divergence on MACD. meanwhile, as usual, BRENT OIL would be overall bullish until an objective sell setup is activated.
OShort
by TheSignalyst
10
Brent oil (BCOUSD) longI see no reason to short oil. The decision area for me is about $ 23 per barrel, I focus on my broker quotes. I believe that a recession awaits the economy, but we are now closer to the moment of exit from the lockdown and the probability of an increase in oil demand is higher. Asian countries are beginning to come into normal operation, and for them, buying oil at current stock prices is a very interesting idea. Companies engaged in shale oil production are probably close to bankruptcy or a temporary halt in oil production. In May, the first reductions according to the agreement between OPEC and the Saudi Arabia and Russia. I don’t see an opportunity for short. Therefore, I am considering shopping. Be careful, brokers have very high oil swaps now, so it is better to trade futures but only with stop loss without transfer over the weekend! Be careful with this tool!
OANDA:BCOUSDLong
by THG_trader
BUY BRENT CRUDE? SURELY YES!!!!Hard to even imagine that Brent Crude hit $149 back in 2008. Now standing at 22.32 surely this looks a good place to buy. At these low levels there's no historical support buy with RSI on the Monthly time frame at 26 and signs of a move north on mid time frames I'm in on this trade at 22.39 with a STOP under the low at 16.95 and a provisional target at WR1 Pivot at 30.67. Should we get anywhere near there the T.P. will be moved as once the BULLS get into this market we could go much higher particularly if DJT open up America as he likes to claim he's doing. Might still be a rocky ride ahead for Brent Crude but this looks a decent opportunity for a LONG trade.
OANDA:BCOUSDLong
by theforexportal
Rangebound Crude Offers a low risk Buy Crude is of course in a massive downtrend, however since reaching the lowest previous support level (on tradvingView at least!) at $27.345 price has been rangebound. Following the recent breakout to test $30, it has fallen back into the lower range, with another attempt to break out yesterday defended by the bears. Price is close to testing range support levels (green dashed lines), and these should offer decent RR long trades assuming there are any buyers out there.
OANDA:BCOUSDLong
by theselfishtrader