Brent FuturesThe Chart looks quite simple for a complex geo polical commodity.
OPEC Cuts, Russian War, Recession and still the Price skeeps coming down.
One year down 26.4%
Brentoil
Crude - st target 92-96Crude has built the base for a wave (C) to complete circle wave 2. Expect to see a sharp move up to 92-96 zone in Brent. Wouldn't recommend taking longs afterwards.
Crude Oil (WTI) Bullish Pattern Forming 🛢️
It looks like WTI Crude Oil is forming an ascending triangle formation on a daily time frame
that signifies a bullish accumulation.
To confirm a bullish continuation, monitor the neckline of the pattern.
If the price breaks and closes above 74.3 that will confirm the strength of bulls.
A bullish continuation will be expected to 76.6 level then.
❤️Please, support my work with like, thank you!❤️
BRENT CRUDE OIL FUNDAMENTAL ANALYSISCrude oil: gaining on lower inventories
While the broader macro conditions remained complex as hawkish Fed speak and debt ceiling deadlock weighed, crude oil prices managed to inch higher and start the week on a positive note after heavy selling both in paper and physical market over the last few weeks. Supply side news remain mixed with Russian exports remaining firm while OPEC’s early April production cut is only now starting to be felt. Extreme heat across Asia has ramped up demand for fuel oil to run air conditioning and lights while oil traders will be on alert for comments scheduled later today from Saudi Arabian Energy Minister Prince Abdulaziz bin Salman at the Qatar Economic Forum, especially following the recent jump in short selling by funds to levels seen before the April 2 production cut.
Crude Oil (WTI) Key Levels to Watch This Week 🛢️
Here is my latest structure analysis for USOIL.
Support 1: 63.6 - 64.5 area
Resistance 1: 73.88 - 74.3 area
Resistance 2: 76.5 - 77.0 area
Resistance 3: 78.6 - 79.9 area
Resistance 4: 83.17 - 83.5 area
Consider these structures for pullback / breakout trading.
❤️Please, support my work with like, thank you!❤️
BRTUSD 1H: Bearish outlook seen, further downside below 72On the 1H timeframe, there is bearish order flow, with lower highs and lower lows being formed. A pullback to the resistance zone at 75.5, which coincides with the 78.6% Fibonacci retracement, and a break below downside confirmation at 73.5 could present an opportunity to play the drop to the support zone at 72. Price is holding below ichimoku clouds and 20 EMA, supporting our bearish bias.
USDWTI H1 - SHORT SIGNALNow we are looking to break downside of this $72/b, we still need to see a solid close well beyond this price zone, ideally between $70.50/b to $71.00/b. Lets see what unfolds. But the sense of downside volume is incoming.
CRUDE OIL (WTI) Key Levels to Watch This Week 🛢
Here is my fresh structure analysis for WTI Crude Oil for this week.
Resistance 1: 73.88 - 74.3 area
Resistance 2: 76.56 - 77.10 area
Resistance 3: 78.60 - 79.85 area
Resistance 4: 83.2 - 83.5 area
Support 1: 67.90 - 68.05 area
Support 2: 64.4 - 66.9 area
Consider these structures for pullback/breakout trading.
❤️Please, support my work with like, thank you!❤️
UKOIL D1 AnalysisPossible Reversal H&S.
We except higher prices as we analyzed before.
Have a look at our previous analysis, link below👇
Brent long to $80I'm waiting for a small retrace to enter.
I will close the Long at Resistance around $80.
I'm bullish on Brent to go further but I will wait for confirmation with brake out of area resistance and break out of down trend line above the area for another Long.
HAS CRUDE OILD FOUND SUPPORT @ 77?A bullish close after today's trading will provide more confirmation. however, price has tested the support level at 77 for the past 4 days and bulls keep sending price high every time bears brought the price low...
N.B!
- USOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
#usoil
#crudeoil
#wti
#brentoil
WTI may bounce off the support!!Instruments : WTI
Possible direction : Bullish
Technical Analysis : Early this month WTI opened with big gap up and signaling possible trend change. After long consolidation, WTI filled the gap and currently bouncing off the support level. It is highly likely that WTI may change trend and continue to uprise. A bullish trade is high probable.
Possible trade recommendation : Bullish as per sketch.
Press like button if you enjoy.
Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and is not suitable for all investors. Past performance is not indicative of future results. The high degree of leverage is dangerous and can work against you as well as for you. Before deciding to invest in foreign exchange or any market you should carefully consider your investment goals, level of experience, and risk tolerance. It is EXTREMELY LIKELY that you will sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses. Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown. You acknowledge and agree that no promise or guarantee of success or profitability has been made between you, and Forex Trading Wizard. Do your own research and talk to a professional financial planner in order to be aware of all the risks associated with foreign exchange trading and investing and seek advice from an independent financial advisor before risking any capital.
Xauusd H4Hi guys , hope you well
My opinion is uptrend in gold nice demand
SecondChancecrypto
21/april/23
(DYOR)
Oil will continue rising to 300$-400$ zoneYou can see my old analysis for oil that linked in bottom and after that you can understand what i mean and how the wave move with my analysis
Good luck all.
UKOIL W1 AnalysisHey Traders.
TrendLine + Static Level increase probability of retracement.
We had a look at Brent Crude 3M chart before.
OIL PRICE IS TOO LOW TO STAY AT THIS LEVEL FOR LONG#COMMODITIES #TRADESETUP
📡🔞 TRADE $BRENT
🔽 LONG (BUY) > 76.20$
❌ STOP > 75.10$ (1.18%)
✅ T1 > 93.32$ (RR 19.31)
✅ T2 > 119.5 (RR 48.41)
☠️CAUTION !!!!
2 IMPORTANT INFORMATION TO TAKE INTO CONSIDERATION:
> THIS IS A MT/LT TRADE. REGARDING THE SETUP. JAC IS DONE AND WE ARE WORKING ON THE EXIT. PIV D (76.47$) MIGHT BE THE KEY.
> IF WE REINTEGRATE THE FORK (BACK BELOW 75$). LAST CALL MIGHT BE THE LEFT LQ ZONE (73.30$)
> FUNDAMENTALS
OPEC+ likely to stick to its guns despite price slump, delegates say
www.reuters.com
Wo1and, PhD
Brent: In the Jungle 🌳🌴🎍Wimoweh, wimoweh, wimoweh, wimoweh
Wimoweh, wimoweh, wimoweh, wimoweh
Wimoweh, wimoweh, wimoweh, wimoweh
Wimoweh, wimoweh, wimoweh, wimoweh
In the jungle, the mighty jungle
The lion sleeps tonight,
In the jungle the quiet jungle
The lion sleeps tonigh
Wee heeheehee…–
… – okay, let’s stop here before we won’t be able to get this song out of our heads. We should rather take a look at Brent, which has advanced deep into the dark green jungle between $77.13 and $42.20 and has left the mark at $75.09 behind. We hope, the course has taken a sharp machete along, as we expect it to penetrate the scrub further – ideally until the 61.80%-retracement at $62.71. There, it should complete wave 2 in green and subsequently turn upwards again.
Brent weaknessFX_IDC:USDBRO traded below $75 last week. Given the economic challenges, I'm open to weak oil prices. Unless there's a bounce at $71, we might see $64. How will this affect JSE:SOL , I don't know but I don't want to pay more than R30/L for petrol.
Recap of my trade for todayGood afternoon traders!
This morning I posted to sell CRUDE OIL (CL1!) QUITE HIGHER and BEFORE EVEN GETTING A CLEAR VIEW for what's happening on the market.
I got a message on twitter from someone said that it's impossible for it to go down since the market is higher and it all shows that it will keep climbing up, my answer was "keep watching the chart for the rest of the day" and here it is.
I hope someone could see the post I posted and followed me when I said sell CL1! so he/she can make some profits.
For me and my custommers we made good profits today on ceveral markets and they're happy about that. Happy custommer = happy me lol.
Well, see you monday on another forecast and as I always see on my posts, if you got any question don't hesitate to ask and I'll be answering with pleasure.
I might post some analysis tomorrow for Arab stocks, stay tuned if you're interested!
Wish y'all a great weekend!
SELL CL1!Good morning CRUDE OIL traders!
I'm sharing with you onr of our trades for today and it's on CRUDE OIL, as you can see on the chart after the squeeze of buyers with a high volume now the market is dropping.
Bonus: Pay attention to the support line I drawn, if the price pulls back on it you close, if not you add another position.
Set TP and SL at your own risk
If you got any question don't forget to ask!
Don't hesitate to ask for an analysis on a specific market!
Target 45,27. Recession! Following monthy chart.
Before I shared a short setup an it hit the target
Then shared a long setup, it hit the target
This time it's a bit concerning. I got a short signal from my indicator and I think target will be 45.27 in fibo.
SL 112.
This means recession, something bis is coming soon.
Brent showing two strong bearish patterns to target $67.71M formation has formed over the Rising Flag.
This confirms not one but 2 bearish patterns in the making.
There is a strong chance of the price coming down. and we have other indicators confirming.
7= 21 - crossing
Price <200
RSI<50
Target $67,71
