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Crude Oil Brent

UKOIL(BRENT)-06/19/2023Preferred direction: BUY Comment: Closing the price above the local resistance 76.30 creates a potential movement for buyers towards 77.39. This will be another major buying hurdle as it is medium term resistance. Given the context of the price movement towards this resistance, there is a very high probability of a breakout to the upside. Perhaps this will not be the biggest upward impulse, however, the approach to the round value of 80 will most likely be provided. Thank you for like and share your views!
TVC:UKOILLong
by Strifor
3
#OIL #OOTT UpdateI think I just decoded the oil chart. I have been contemplating a rise to $90+ because I expected ABC flat where I now see WXY combination of zigzag, zigzag and triangle. The chart now perfectly aligns with Brent where wave [ B] did make lowest low presumably shaping a symmetrical triangle whereas WTI is working on a running triangle. That means that we have only strong push left upwards from current low which should come either as a straight impulse or an expanding diagonal which will be extremely annoying.
TVC:USOIL
by Fomenka
Oil -Rising on potential OPEC cut oil productionWell, the technical analysis seems to indicate that Oil is currently in a very strong overbought area, from which we expect it to rise to at least 82. Especially since interest rates may stop rising in the coming period and be fixed at 5.25 or 5.50 With the decline in oil prices due to the economic slowdown, there is a high probability that OPEC will cut oil production at the next meeting, which will cause prices to rise strongly.
TVC:USOILLong
by m-trad-e
1
FEDFUNDS | Too TightThe point of TradingView (and being a human/trader in general) is to learn from your mistakes. I did make some mistakes. Perhaps this idea by itself is another mistake. But I cannot do any different. I must speak out about what I see. For the past year I tried to understand the pressures that are pushing prices higher, equities lower. It is important in analysis to avoid the mass, the "common truth". We all have expected a future of uncontrollable inflation, extreme prices and The Great Reset. The place where everything is too expensive to buy, and we will have to live with coupons. While some of these may come, it is important to analyze what isn't coming. Oil prices have been paired with the dollar (with the petrodollar). Many expect oil prices to explode even further, while "dollar is losing value" and "hyperinflation is imminent". Some charts however show a different picture... WIth the 2M chart warning of downward swing, and with the 3M chart showing divergence, the future of oil may not be as explosive as we may believe. But that is in relative terms. The strength of money seems fated to increase a lot more. Which in relative terms will constitute oil cost to be viable. In the main chart, it appears that oil is moving into what appears to be a Wyckoff Distribution. And oil is not the only one who will have trouble with the high-yield environment. Until now, the usual equity-bond investment scheme has performed tremendously. This trend is now changing. With a significant trend violation that occurred last year, it seems that we are entering a new period of investment strategies. From bonds as a hedge against equity weakness, investors should seek alternatives. The old way of doing things is broken. Commodities will be playing a significant role in the future of investments. It is in our power to find the new way of doing things. Tread lightly, for this is hallowed ground. -Father Grigori P.S. A link to the indicator I am using.
NYMEX:CL2!
by akikostas
USOIL is getting cheapWe recently noted that an interesting opportunity to go long oil could be on the horizon soon. Accordingly, we waited patiently for the price to fall below $70 per barrel. Now, with the price trading near $68.80, we are starting to consider the price attractive to go long. However, we think it is proper not to use all the firepower yet as technicals still point to more downside. Therefore, our plan is to start accumulating in very small batches and unload the stash with the price retracing back above $70. With that said, we would like to set a price target for USOIL at $71. Technical analysis Daily time frame = Bearish Weekly time frame = Bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILLong
by Tradersweekly
22
UKOIL Analysis: Brent Crude OilThe looming possibility of a US debt ceiling default has sent shockwaves through the financial markets, triggering a series of events that could impact various assets, including commodities like UKOIL (Brent Crude Oil). In this analysis, we will explore the potential implications of a US debt ceiling default on UKOIL and present a trading strategy based on the current market conditions. Analysis: 1. US Debt Ceiling Default Impact: A US debt ceiling default can have far-reaching consequences on global financial markets. Uncertainty and market volatility often drive investors towards safe-haven assets like commodities, particularly crude oil. As a result, we can anticipate increased demand and a potential price surge for UKOIL. 2. Buy Zone: The suggested buy zone for UKOIL, considering the potential effects of a US debt ceiling default, lies between $73.42 and $65.46. This range indicates the levels at which traders could consider entering long positions, anticipating a bullish price movement. 3. Stop Loss: To manage risk, it is crucial to establish a stop loss level. For this analysis, a suggested stop loss level is $61.53. Traders should set their stop-loss orders below this point to protect against adverse price movements. 4. First Target: The first target for UKOIL, considering the potential rise resulting from a US debt ceiling default, is set at $121.22. This level represents a significant upside potential and serves as an initial profit-taking area. 5. Second Target: In the event of a sustained bullish trend, the analysis suggests that UKOIL could potentially reach new all-time highs. The second target is set at $184.53, reflecting the possibility of an extended price surge beyond previous records. Considering the potential impact of a US debt ceiling default on UKOIL, there is a compelling case for a bullish price movement. The suggested buy zone of $73.42 to $65.46 provides an opportunity for traders to enter long positions, while the $61.53 stop loss helps manage risk. The first target of $121.22 offers a profitable exit point, and the potential for UKOIL to reach new all-time highs, with a second target of $184.53, adds an exciting long-term perspective. Disclaimer: This analysis is based on the assumption of a US debt ceiling default and should be considered speculative. Traders and investors should conduct their research, evaluate market conditions, and exercise caution when making financial decisions.
TVC:UKOILLong
by mahmoudbawa
1
Crude Oil (WTI) 2 Scenarios Explained 🛢️ WTI Crude Oil is stuck between 2 solid structures. Depending on the reaction of the price to these structures, I see 2 potential scenarios. Bullish Scenario. If the price breaks and closes above 74.3 resistance on a daily, a bullish continuation will be expected to 76.57 level. Bearish Scenario. If the market drops and closes below 69.4 support, a bearish movement will be expected to 65.0 level. Wait for a breakout, it will show you the future direction of the market. ❤️Please, support my work with like, thank you!❤️
TVC:USOILLong
by VasilyTrader
8