📉BRENT 08/31/2022: drop to $96❗️📉 Priority direction: Down .
📝 Description: The level of $98.55 for oil (where it is now) is a good entry point to sell. Sellers increase their pressure to the indicated level and this trend is likely to lower the price to the $96 support in the short term. In the medium term, the positive mood remains so far.
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Crude Oil Brent
📉GOLD 08/31/2022: clamped in the range❗️📉 Priority direction: Downward .
📝 Description: Sales dominate the market for metals and probably in the near future gold will be in the range of $1715 - $1736. Of course, it is best to open deals from the dorders of this range, but priority is given to sales. There are suggestions that the instrument is aiming at a test of the important $1700 level.
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#Brent crude oil cleared 200dma again - bullishChart speaks for itself.. after failing below the 200dma oil has managed to climb back and hold above the 200dma (green).. it has also broken a downtrend which has kept price action moving lower. over the last couple of weeks. odds are for higher oil prices from here.. I have seasonality only peaking at the end of September so it would then suggest we can expect a move higher throughout September
USOIL - The downtrend continuesIn the first quarter of 2022, we warned market participants about the peaking conditions in the oil bull market. Since then, our predictions came true, and USOIL dropped over 30% from its highs, hitting our 100 USD and 90 USD price targets. At the moment, we still remain bearish on WTI oil with a medium-term price target of 80 USD. Our views are based on technical and fundamental factors.
Technical analysis - daily time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish.
Illustration 1.01
Illustration 1.01 shows USOIL down approximately 33% from its 2022 highs. At the moment, we pay close attention to the sloping resistance; a breakout above it will be a bullish sign, potentially hinting at the correction of the downtrend.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is 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.
📉EURUSD 08/29/2022: pressure to continue❗️📉 Priority direction: Down .
📝 Description: The pressure on the euro is likely to continue. Level 0.99125 will be tested by sellers. Before the start of the test of this level, there may be a small recovery, which is likely to be limited to the resistance level of 0.99995.
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📈BRENT 08/26/2022: medium-term growth❗️📈 Priority direction: Up .
📝 Description: Oil is in the resistance area near the $100 level, trying to break up. The medium-term view is directed upwards, however, there is a possibility that the instrument will not break through the indicated resistance immediately and before that it will roll back to $98.55. The target for growth is the level of $104 and $106 can be considered a little higher.
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📉GOLD 08/25/2022: stop❗️📉 Priority direction: Down .
📝 Description: Already today, the metal is trading at $1764, thus being at the local resistance. Probably here the promotion of buyers will slow down a little or stop altogether. Most expected is a stop at current levels and consolidation.
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📈US30 08/24/2022: slight increase❗️📈 Priority direction: Up .
📝 Description: Slight growth is expected for the indices today. According to the DowJones index, the level of 32830 acts as a support, and a little lower is the support at the level of 32600. It is best to consider the targets for this transaction at the level of 33100.
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📈GOLD 08/24/2022: recovery continues❗️📈 Priority direction: Up .
📝 Description: Gold worked its way up to $1752 in yesterday's trading day, and today it is expected that buyers will continue to regain the initiative. In the near future, it is expected to update the highs, that is, the price will rise above $1752 and will strive to gain a foothold above this level. In addition, attention should be paid to silver, which is also expected to rise (both the traditional correlation between metals and a separate analysis for silver).
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BRENT CRUDEHello and welcome to this analysis
UKOIL (Brent Crude) is approaching the PRZ (Potential Reversal Zone) of two bullish harmonic patterns, AB=CD and Gartley near $85. This level also coincides with the monthly Ichimoku Base Line support.
The expected rally from the suggested levels could take it towards $115
In case the up-move takes place before completion of the Harmonic Patterns, then the confirmation will come on it sustaining above $101
In terms of MCX Crude - the corresponding levels are
$ 85 > INR 6100
$ 101 > INR 7600
$ 115 > INR 8400
#UKOIL (Brent Oil) : 08.23.22 This is the possible trend of #UkOil (Brent) and there's 3 scenario that i indicated them on the chart , everything is clear , but just in case if you had any questions please feel free to ask !
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⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 08.23.2022
⚠️(DYOR)
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📈BRENT 08/23/2022: buyers in action❗️📈 Priority direction: Up .
📝 Description: There is interest in oil around the $95 level (on average) and most likely further events will develop above this level. The approach of the level to $98.55 is expected. Globally (medium and long term) as long as oil is above $91.70, buy-priority to $100 and above remains.
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📈GOLD 08/23/2022: on the edge❗️📈 Priority direction: Up .
📝 Description: Yesterday's dive down the metal under $1736 allowed to open long positions only after its recovery above this level. For now, the buy-priority remains, however, any close below $1736 automatically creates the threat of a fall to the support of $1715.
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📈EURUSD 08/22/2022: parity again❗️📈 Priority direction: Up .
📝 Description: The euro is once again close to the parity level. Approach to this level is almost inevitable and a recovery from this value is also very likely. One should not look too high yet, the resistance area near the level of 1.01215 is now considered as a maximum for this.
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📈GOLD 08/22/2022: logical correction❗️📈 Priority direction: Up .
📝 Description: The metal continues to be under selling pressure since the end of last week and an approach to the $1736 level is very likely now. The price area around this level acts as a support, thus, it is logical to expect some kind of stop in sales and some kind of upward correction. The mark at the level of $1752 is still considered as the maximum value for correction. In the best scenario, the price will correct to $1770.
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📈BRENT 08/19/2022: positive attitude❗️📈 Priority direction: Up .
📝 Description: The price of oil still broke through the resistance line, which was indicated yesterday, and yesterday's alternative buy scenario automatically worked. Today and in the near future, growth is expected to continue towards $98.55. There is resistance at the levels of $96-$97, and as a result of passing the indicated value, the instrument is more likely to acquire an upward character again.
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📈GOLD 08/19/2022: sales stop❗️📈 Priority direction: Up .
📝 Description: Yesterday's spruce at the level of $1752 was successfully reached and now it is expected that the fall in the metal will stop and we can expect the price to approach $1764. At this level, there is a resistance line of the downtrend channel. Volume analysis also confirms the moment of pause for the fall. There are prerequisites that gold at the indicated levels may again turn up locally.
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