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Brentoilanalysis

Crude Oil 63?Decembers ascending trendline from the end of 2018 as you can see price has closed below it, I can see consolidation within the 4hr range and support. (green) With price below this trend, along with the strong 65 area, the bottom of our macro range previously a support, now becoming resistance, i can't see this rallying further. I feel there is too much compression of resistance above the price. Ending the last 4hr bar with a hammer/pin is a decent sign also of confirmation 15minute has retest the trendline previously mentioned and already rejected off during the last few hours of trading last week.
OANDA:BCOUSD
by MANNI0812
Brent Crude Oil Futures monthly demand, buy BrentBrent Crude Oil Futures has a monthly demand level located around $5038 that gained control a couple of months ago. The fact that we have had that monthly imbalance in control allowed us to make too decisions. 1) No shorts would are allowed trading against a big timeframe demand imbalance that has gained control. 2) Only longs would be allowed. Brent Crude Oil has been rallying for a few weeks now creating a new weekly demand level around $53.91 and potentially creating a new one slightly higher around $62.00 a barrel. There is a clear long bias providing buy opportunities on Brent Crude Oil Futures, a lot margin for profit on the way up to monthly supply zone around $77.00 a barrel We do not take into consideration any fundamental analysis to trade futures, no earnings announcements or volume, we do not need any of that to make a trading decision based on supply and demand imbalances. We just need to know where those imbalances are located and what is the bigger picture trend on the stock. Still if you pay attention to news, in the beginning of February Oil prices have fallen after disappointing US factory data sparked fresh concerns about a slowdown in the global economy. Brent crude futures dropped 0.2% to $62.6 a barrel, and US West Texas Intermediate fell 1.4% to $54.48 a barrel. Oil prices had been buoyed by a new round of supply cuts from Opec and its allies. Can we really make sense out of this Brent Crude Oil news? Maybe you can, but do we really need it? No we don't. Price reached a very strong monthly demand level, we are allowed to buy Brent Crude Oil but we are not allowed to sell it. You can also use various options strategies to take longs at demand imbalances, long calls, spreads or any other strategy that you might have on your trading plan.
RUS:BR1!Long
by AlfonsoMoreno
A great opportunity to sell in Brent Oil. don't miss it.Midterm forecast: Although current trend is uptrend but we forecast a downtrend wave would begin in Midterm. Technical analysis: There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains. Relative strength index (RSI) is 47. Trading suggestion: There is a possibility of temporary retracement to suggested Sell Zone (77.65 to 80.40). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (77.65) Ending of entry zone (80.40) Entry signal: Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak" , in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 75.40 TP2= @ 73.25 TP3= @ 71.30 TP4= @ 68.85 TP5= @ 66.65 TP6= @ 62.35 TP7= @ 58.15 TP8= Free
FX_IDC:USDBROShort
by ForecastCity
1
Brent Crude Oil approaching support, potential for a bounce!BCOUSD is approaching strong support at 63.54 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a nice bounce could potentially occur at this level to push price up to major resistance at 66.35 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is seeing major support above 2.1% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:BCOUSDLong
by Tickmill
Brent Crude Oil testing major resistance, potential for a drop! Brent Crude Oil (BCOUSD) is tesing major resistance at 66.64 (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) and a strong reaction could occur at this level to push price back down to 64.31 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance at 98% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:BCOUSDShort
by Tickmill
Potential Upside in Brent Crude Oil (Cont'd)Continuation from previous post, and adopting @pipizer feedback in the comments: 1. The past few days has saw a drop in the price mainly due to reports on OPEC output in October reached an all-time high. This lead to a further decrease which finally complete the Cypher Pattern. 2. A reversal candle (hammer) was formed the following day (14 Nov) with a long tail signalling bulls overcoming the bears at EOD. Mainly driven by renewed hopes of OPEC output deal. 3. Breakout of previous day hammer lead an opportunity to long and my entry was around the area stated, with a Stop Loss placed around the support region indicated. 4. I have identified 3 potential resistance zone and they fall nicely into the fib retracement 0.236, 0.382 and 0.618 area. 5. The first resistance zone break will cause more conservative traders to go on a long due to a 2nd breakout and short position traders will start covering their shorts which becomes the driving force to push further up. 6. Still, upcoming OPEC deal will be the crucial driving force for it to either trumps or fall. It will still be volatile during this period. 7. My exit strategy will be on a trailing stop in this case.
TVC:UKOILLong
by akenii
Potential Upside in Brent Crude OilMy first trading idea, here to learn from the experts, please give feedback on this idea. Several Signals I have identified: 1. Cypher Pattern has confirmed potential reversal zone 2. A support level at 45.48 area is forming 3. Still in an long term upward trend 4. Catalyst moving it up would rely on upcoming OPEC deal on production cut What to do now? Wait for a reversal candle to affirm confirmation of entry. Trade on breakout of resistance 47 area.
TVC:UKOILLong
by akenii
2