Brent Crude Oil- Daily Key ElementsKey levels to look out for when analysing Brent Crude Oil , please refer to H4 chart for a strategic view!
Brentcrudeoil
#BrentCrudeOil Nearing the topShort term retracement expected for oil.
- Bearing divergence
- 5 waves up potentially formed already
- Forming a ending diagonal of sorts
BCOUSD BUY (BRENT CRUDE OIL – US DOLLAR)Hi there. Price is forming a continuation pattern to the upside, b wave is completed, so one more move down is expected, c wave. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
BRENT.CMD/USD 4H Chart: Breakout occursBullish sentiment has been dominating the BRENT.CMD/USD since the end of December. The commodity reversed from the lower boundary of a dominant descending channel pattern at 50.31 on December 26 and followed by an upside wave.
The Brent crude oil breached the upper boundary of the dominant ascending channel at 58.49 during yesterday’s session.
Given that a breakout had occurred, it is likely that the crude oil prices will continue moving north and potentially targeting a resistance cluster formed by the combination of the weekly and the monthly PPs at 61.90.
Great ascension for BCOUSDwait to see what is the next candle then You can buy BCO if it doesn't break the support line
UKOIL Brent Crude Oil Long-Term ForecastSo, here we go again with the brent crude oil forecast:
Scenario 1: Oil prices could reach highs of up to $83 a barrel, which represents a resistance level formed by the descending upper trendline.
Scenario 2: Oil prices could fall even lower to about $30 a barrel, which represents a 100% retracement of the previous wave. That level is also in the support zone formed by the previous lower lower.
My verdict: Price is going up to $80 a barrel
Brent is back to trendlineBrent is back to trendline and will find support around 65$ . I think in next months price will rise gradually to last resistance around 87$.
BRENT SELL (BRENT CRUDE OIL – US DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell.
OILOil retracement with fib level/structural confluence
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BRENT CRUDE COULD SEE LOWER PRICES In this video update we talk about how Brent Crude Oil could continue moving lower if it can hold below the key support at and lows at 70.44. We have been trading short from the highs and looks like price will continue further despite the market looking overextended to the downside.
Brent Oil bounce off supportHello friends! If you agree with this idea, please give me a like and a follow so that I can continue posting quality content!
The Brent Oil price per barrel has bounced off the support line at $71.20. This has been a particularly strong line of influence this year - with the price touching it 4 times.
The red line is my Stop Loss. Good luck!
Use risk management to minimise your losses. Losses can exceed initial deposits.
don't be hurry to buy crudeoil now... buy at green trendlinemay be dealing with fifth wave expanding diagonal... so buy at lower green trend line
$71 last hope for Brent crude oil bulls as sanctions kick inThe introduction of US sanctions on Iran has been a "sell the fact" event. Brent crude has broken a long term rising trendline = bearish
Scenario A) price bounces to 74.30-75.10, which holds as resistance for another leg lower towards 71
Scenario B) price just drops from current levels to 71
BRENT CRUDE TO RETRACE FURTHER IN WEEKLY UPTRENDWe have already had some great shorts on Brent of the past few weeks and now we have just cleared out the support of $80.00 we can continue to look for the short positions.
We have to be aware that the weekly chart is still in an uptrend and until its breaks the weekly lows of $70.34 we should be cautious in holding long term short positions.
Looking at the chart we could see the BRENT CRUDE OIL market retracing down to the 38.2 fib and if so we could look for further short trades down to this point if the market on the
4hr timeframe can pullback into the key 4hr structure lows of $79.00.
BCOUSD, Brent Crude Oil: Forecast on H4- Triangle pattern on H4.BCOUSD, Brent Crude Oil: Forecast on H4- Triangle pattern on H4.
--> Waiting break and confirmation !
Expected downtrend from this point onwards!Rebounded off strong resistance and downtrend should begin.
TP1: 69.90
TP2: 65.75
SL: 73.20 or as per your analysis and risk assessment.
Good Luck and Trade Safe!
BRENT C. OIL SHORT H4/DAILYBrent crude oil
Double top resistance setup on daily followed by medium to long term uptrend break and currently retesting.
Sell towards retest of the support level below at TP1, chances of it reaching below $60 per barrel is unlikely but possible.
BRENT OIL is moving to key level CL_Brent weekly overview
Price is moving to key level $80.41. Also, it is 2 - months high. Near that level, I will wait for my price action signal. Such levels are keys because many traders hide their stops upper it and have set pending orders.
I have 2 scenarios which I will use:
1. I will look for short ONLY, If the price will make fake broke of $80.41 and H1 - H4 close under it. From that zone, rice can move down to $70 - $72.
2. If the price will break up $80.41 and H1-H4 will close upper it, that will be a signal that exchange rate will continue up move.
