BR (Brent Oil)Possible breakout 66.5 for short selling to 63.
Buy Limit at 61.5-60
Don't take aggressive long positions!
Brentoil
OIL Short Pullback because Stochastic, But Will Try to Edge UpTechnicals show that we are due for a bit of a pullback with oil. However, US growth is still strong and may be able to keep demand up while OPEC tries to cut down on supply. For more financial analysis and charts, check out www.anthonylaurence.wordpress.com
Brent Long (BR) Medium Term AnalisysShort opportunity below 66.3.
Buy Limit 61.5, Sell Stop (SL) 59.8, Sell Lmt (TP) 66
OIL, buy after pullback Near $57.80 the best place to open buy
- Up Trend
- Low risk
- Potential profit in 5 - 10 times bigger
BRENT OIL Buy Signals and possible scenariosSelf explanatory chart. The entries and targets depend upon which Channel Up prevails after the 69.00 test. In any case buying the dip with TP 70.00 and 71.00 is best suited.
Brent - Ukoil Short to 55Lots going on here on the 4hr chart:-
1. 4HR Divergence, went up too far too quickly, triple top
2. end of 5 wave , a,B,c to follow?, soft bounce likely at 50 fib , but this breaks neckline, so c leg likely down to at least 61.8 retracement (55 dollar) completing the YAZ sequence.
3. Oil nearly always retraces from the first bounce (after a big fall)
Fundamentals
Indices have peaked and retracing, uptrends are broken.
Gold, SIlver likely to complete bullish pattern over next week or two, e.g head and shoulder on Silver
News out from China Was very negative this week
ECB weak , just announced new stimulus package
USA Non Farm Payrolls lowest in over 12 months.
SHORT a possible Head & Shoulder patternBrent oil looks like its forming a Head & Shoulder pattern which suggest a drastic potential drop.
OIL, Trading plan.I think that OIL can continue Up move
- Price broke Up range, daily candle close above
- Mid-term trend is Up
The best place to open entry is near $57.30 - $57.50 after pullback, because you will have low risk and potential reward in 5 - 10 times bigger
Crude Oil Elliott Wave IdeaFollow up on this theory >
Appears the correction is in full swing now, looks like a WXYXZ completed for the white B wave shown in this chart >
Very difficult to get anywhere near to predicting a complex correction such as WXY or WXYXZ but I'm thinking something like shown in the chart here, down towards to 50% Fibonacci level, then up to $60+. There is a possibility that a new low below $42 can come (anything can happen) but I think $60+ more likely in 2019.
Honey, I'm shorting BCOUSD! (3/6/2019)As the title says, call your wife and let her know. OANDA:BCOUSD short on the way
Thats my analysis. Whats your's say?
Brent Crude Oil - Shorting opportunityBrent Crude Oil does not seem to have the support it needs to make the push higher up from the 4H chart. MACD 8H is making lower lows as well.
As long as the 4H 50 EMA holds strong as resistance, the move further down is active.
First TP is at Fib Extension 1 which is 64. If prices still aren't able to find support at that price, then sell further till 1.618 (62)
Brent Pullback has happened, now it's time to riseAbove 65.05 Brent oil is very strong and might continues to move upwards.
Blue channel is still valid so don't be afraid of pullbacks.
BRENT.CMD/USD 4H Chart: Weekly overviewThe Brent crude oil prices have depreciated about 4.93% against the US Dollar during the last week. The pair breached the lower boundary of an ascending channel pattern at 64.63 on Tuesday.
The BRENT.CMD/USD pair is currently trading near a resistance cluster formed by the weekly S1 and the 50-hour simple moving average at 66.58.
If the commodity passes the cluster as mentioned earlier, buyers could push the pair towards the weekly R1 at 67.94.
Although, if the resistance line holds, a southern breakout is likely to occur during the following trading sessions.
Another sell order to BrentFirst sell order was opened on 01-mar-2019
I see Brent going down few next days. So lets make duplicate sell order on it.
Sell - 65.70
SL - 66.40
TP - 60.58
RRR - 1:7
Of course it has smaller TP with smaller RRR. I make close order manually.
Crude Oil Elliott Wave IdeaUpdate to long term correction ideas.
Looks like C wave has now completed after hitting the 0.5 extension on Friday and dropping quickly.
It could be that ABC is complete, correcting the whole move from $77 to $42, a new low below $42 may come but I think there might be a bigger complex correction (WXY) in play which could see a 50% correction to $50, then up for one more high towards $60-$63 before the new low below $42 comes.
A double top and bearish divergence on daily suggests more downside to come in the next few weeks.
A wave completing before the correction for B and then C upward >
The 5th wave of 5/C/W completed >
