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Brentoil

BRENT - Important levels before US Oil Stocks announcementGlobal markets started this week following new tarriffs and statements between US and China. President Trump wants to decrease import of goods from China and also mentioned that US should undertake necessary steps to replace Chinese products. At G7 summit Trump pointed out that new economic and trading partnership with EU will be put on place. Also President Trump made a giant statement that he is ready to negotiate and meet with Iran's President Mr. Hasan Ruhani. These news, although sounds speculative but resulted markets inpredictable movements and uncertanity in Asian markets. UKOIL prices following a downtrend recently tested the psychologic resistance of 60USD. Tomorrow at the US Crude Oil Stocls announcements we are expecting a dropdown of crude oil stocks to 2.133M. This could support the trend reversal of the UKOIL prices and pump the price upwards. For short-term we can surely say that the price will test 60.27 and 61.00 resistnaces. Following resistances are 63.00 and 64.15. Brent in general is in a downtrend since the beginning of the year, we do not expect the price to be above 65.00 which is a very strong resistance, and sellers will do anything to bring the price down from there. Let's follow the price to test 58.35 and 57.60 supports and move towards 61.00. Support 1 :58.35 Support 2 : 57.60 Support 3 : 56.20 Resistance 1: 64.15 Resistance 2: 63.00 Resistance 3: 60.27 For other analyses (fundamental or analyses based on news and global reports) follow trend analysis rules Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
TVC:UKOIL
by UnknownUnicorn3931771
Is Brent Oil Heading towards 36 in a couple of MonthsIf respite do not come for Brent Oil in terms of buyers to increase demand between 50 and 55.25, the black gold is likely to make a higher low at around 36 in a couple of months. Looking at the chart, it took Brent Oil about two and half years to rally from its low at 27.08 in January 2016 to its high at 86.72 during October 2018. Since after that, it has being on a decline. Using this assumption one can expect Brent Oil to make another low around 36 (if demand is not drastically increased around 50 mark), in the next 2 years - 2021. OPEC, Non-OPEC countries and unconventional oil & gas producing countries actions and inactions have a big role to play in determining the future of the price of oil within this period... This analysis is based on my technical analysis opinion and not to be construed as a trading advise. PLAN YOUR TRADES AND TRADE YOUR PLANS
FX:UKOILLong
by BullBearMkt
UK OIL UPSIDE PUSH TO FOLLOW?Hi fellow traders. Looking at UKOIL right now, we can see that the RSI indicator has fallen towards the oversold region and is currently looking for a rally to the upside. Considering that UK Oil Supply is to remain the same, and with the UK Iran Oil Tanker tensions rising, it looks like UKOIL could look to push to the upside. At this point in time 64.20ish would be an ideal buy in position region. I have been considering a buy position from 64.05. Additionally, we can see that we could be rebounding from a critical support level at 63.90. In this case, it looks like it could be the perfect time to long this pair. For a quick bullish squeeze out of this pair, the main ideal target would be around 63.56. For a longer swing on this pair for a few days, looking from a bullish price action point of view, 65.00 region could be an ideal take profit region. Stops should look to be placed around the previously mentioned critical support level of 63.90. If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX & Crypto market, trying to learn FX & Crypto, and I'd appreciate any help people may offer! Please drop a follow! I need reputation points!!
FX:UKOILLong
by TheFinancialTRDR
2
Oil: Monthly Equilibrium, Break Coming!Hello dear energy sector fans & oil traders, hope you're doing well! ;) Welcome to this special analysis on the WTI Crude Oil. On the monthly chart we're currently inside a nice Equilibrium/tightening range , which will see a breakout coming towards the end of this year. This Equilibrium is also perfectly visible on the Weekly chart: => A break of the range highs at $60 could lead to $65 and $75, giving 5-25% profit. A break of the range lows at $52 could lead towards $45, giving around 17% profit for short sellers. On the Daily chart we have successfully made a Morning Star reversal at $55 and are currently trying to make that zone to a higher Low compared to $52 of the Equilibrium range. What about the fundamentals? While we currently have the tanker issues still going on between Iran and Great Britain, it doesn't seem to have a huge impact on the price: The market is not expecting a costly war between those parties. Moreover the market is fundamentally still dictated by weak industrial & manufacturing activity : Supply is still stronger than demand. If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
TVC:USOIL
by Edgy_