CRUDE OIL - Potential Bearish Reversal Soon!Hello everyone, if you like the idea, do not forget to support with a like and follow.
CRUDE OIL is sitting around weekly resistance in red so we will be looking for sell setups on lower timeframes.
on H4: CRUDE OIL is forming a channel in red but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)
Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)
Until the sell is activated, CRUDE OIL would be overall bullish and can still dive inside the red resistance.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Brentoil
Let's wait for the oil to riseDescription :
As you can see, we see a triangle that broke it upwards and there is a possibility of a price rise, and the first target will be near that peak.
End of USDNOK decline ??Hello
I hope you are well
This analysis is done on a daily basis and has long-term goals.
As you can see, Sharp has a rising price, but in the face of a gradual and slow decline. It is a downward trend. Finding a suitable point seems to allow us to make a good profit from the market. If buyers can break the trend line and the price of 8.38722 with strength, you can be a buyer every time you return to the broken trend line and the mentioned price. But from here, the chart can move to the price of 7.9619, the support zone of which is clear in the analysis, and then climb up. In any case, we are waiting for Kendall's approval. But on Friday, the interesting Kendall finished his work !!!!!
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UKOil (Bearish Bat) Here on Brent Oil we have a bat pattern (much cleaner than West Texas) the Grey Box indicates some areas of confluence. the middle of the box is the .886 of the XA leg. the low side of the box is the 1.618 Fibo Extension of the ABC legs of the pattern and the top range of the box is 2.0 range of the BC leg. this area has proven on the left to be quite powerful printing an 88 point swing point. look for a violent rejection out of this zone for a minor reaction. Look of a "M" pattern for a more substantial reversal. I think this is more of a corrective move of the much larger picture so be prepared to see an ABCD pattern bringing price back up for the longer haul.
USOIL ANALYSISUSOIL respects uptrendline
Price is based on key level at 60.75
MACD shows weakness in bearish momentum
RSI reached oversold region
we r waiting price to break corrective downtrendline with bullish movement to open long trade
It's expected to target level 62.60
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
CRUDE OIL - Video RoadMap Analysis!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Here is the top-down analysis for CRUDE OIL, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
Brent Crude: Great Potential 💯💯💯Although it does not seem like there is much to see in this chart, we actually expect the British crude oil to perform very well over the next couple of months. In the imminent course of action, we believe that the price will slightly increase and then move on to complete the correction under $59.04. From there, we will be all set to experience a long bullish run in the direction of $80 and above!
Also, check out our other forecasts!
BrentOil 4hTendency: upward
Targets: 65.0 and 67.6
But under support line 60.00 will be downward ..
The 60.00is a strong support for downward tendency in 4h and daily chart but stabilizing above it the view of BrentOil is Upward (not bad for down)
Brent oil 4h (upward triangle) On 4H
~Stabilized above 63.14 will get (67.60) &(71.44) ,
~Stabilized under 63.14 will get (59.50)
Crude Oil Elliott Wave IdeaUpdate (alternative) to a previous idea >
Maybe oil is in middle of a complex (WXY) correction as part of a larger degree wave 4; Wave C of X could reach $64 area before wave Y towards $50
Brent oil 4h (triangle)
~Stabilized above 63.14 will get (67.60) (71.44)
,~Stabilized under 63.14 will get (59.50)
Suez Canal FiascoWe've all heard about the big ass ship stuck in Egypt's Suez Canal last week. On Tuesday morning (3/23) the 'Ever-Given' vessel, leased by Taiwanese Company EVERGREEN; was caught up in a 'Darude-like' sandstorm causing over 10 billion in damages so far and unforetold shipping delays.
The Suez accounts for 30% of imports coming into Europe from Asia. There are currently 150+ container ships caught in this costly traffic jam, where the estimated costs of waiting are upwards of $400Million/hour according to various news sources.
Looking for ways to capitalize on News events? If you have access to Asian markets; take some shorts on lease owner EVERGREEN 2603. They had positive reported earning on Monday just one day before the shitstorm and there's a definite shift in momentum back to 30-lvl support.
Also consider short positions in the vessel owner; Japanese Shoei Kisen KK. UK P&I Club Insurance is meant to cover pollution and injury, not cover hundreds of lawsuits for this costly conundrum..
Let's get it!
static01.nyt.com
Brent oil 4H (triangle)~Stabilized above 63.14 will get (67.60) &(71.44) ,
~Stabilized under 63.14 will get (59.50)
Brent oil 4h~Stabilized above 63.14 will get (67.60) &(71.44)
~Stabilized under 63.14 will get (59.50)
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!
