Selling brent crudeSetting a sell limit on UKOIL. The risk is 33 for 798 pips. This is a counter trend trade but I have a feeling price will pullback before going higher.
Crude Oil Brent
OILoil m15
there is a supply zone near to imbalance area.
we wait for to retest that zone and take entry
⭐️BRENT: forecast for May 9-May 13➡️ Oil usually rises and falls with the stock market because the prices of both markets are like a proxy for economic activity. But in recent years, these relationships have collapsed. Oil growth may continue to outperform.
Stock markets fell and oil prices held. It is more likely that oil will continue to outperform equities on a cross-asset basis. If you are in a place where economic activity is strong now but could also slow down in the coming years, stock and credit markets could start to weaken even as energy prices hold.
Oil prices could rise even more if the conflict in Ukraine escalates, a scenario that is likely to push prices down in other asset classes. But if geopolitical risk subsides, there could be a recovery in growth, greater economic confidence and more demand for energy, meaning that oil may not fall much compared to future expectations. This should support the oil.
Technically, oil is not expected to fall below 110$ - 111$ this week. Longs can be entered from current prices. The target for the deal is supposed to be at the level of 115$.
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Crude Oil (ICE) Brent - "Big-picture" Bullish!Crude Oil (ICE) Brent - "Big-picture" Bullish!
A proportional countertrend retreat should set the stage for the next leg of the advance.
It's way too early to get a read on a potential shape for Supercycle wave (b) , but it should last for years and potentially retrace as much as 90%-105% of the wave (a) decline.
Stay tuned!
CRUDE OIL (WTI) Important Decision Ahead 🛢
Potential scenarios for WTI Crude Oil.
Price action, key levels & thoughts.
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Brent Crude Trade IdeaBrent crude has broken out to the upside and looking interesting. Have a watch to find out more.
120-125, further decreaseYesterday breakdown of a triangle occurred up, but not down. And it is necessary to recognize it. It means that the price will continue to be adjusted up to level 120-125. Then the movement should be continued down since it is only correction to the previous falling. Falling was an impulse.
Information provided is only educational and should not be used to take action in the market.
Oil correction is almost executedPrice of oil was practically modified on 0.618 according to Fibonacci. It means that in the nearest future we will be able to see continuation of the movement with purpose 88 down again.
Information provided is only educational and should not be used to take action in the market.
Oil waiting for embargoPrice of oil bargains within a big triangle waiting for the decision on the ban on the Russian oil. However, I do not change the idea on reduction of price. I expect an exit from a triangle with the first purpose 88 down. I will remind that earlier the price beat off the upper bound of a treguolnik as I also specified in the ideas.
Information provided is only educational and should not be used to take action in the market.
Time to punch a triangleThe price some time was in a triangle. Now the formation is complete and it is time to choose the direction of the further movement. I expect, as before, the movement with the first purpose about 88 down. If to make Fibonacci's stretching, then it is possible to see the first purpose about 80-81.
Information provided is only educational and should not be used to take action in the market.
UKOIL, MOVING LIKE THE USOIL...!
We are being prepared for another short on UKOIL, soon. Our invalidation Sl is located accurately. We will have our risk free level on the blue zone.
⭐️BRENT: forecast for May 2-May 6➡️ The volatility of the oil market remains high, which is due to the aggravation of the energy crisis in Europe against the backdrop of the first precedents for stopping the supply of Russian hydrocarbons to some EU countries.
The Wall Street Journal news agency reported yesterday that German officials withdrew their objections to a total embargo on Russian energy supplies, asking only for time to find alternative suppliers. Recall that the position of Germany was the main obstacle to the introduction of such an embargo in the EU. The United States and Great Britain have already refused to buy Russian oil. The change in the rhetoric of German representatives was a reaction to the suspension of natural gas exports to Poland and Bulgaria, since these countries refused to pay for deliveries in rubles. This raised concerns that the Russian Federation could stop deliveries to other European countries. Meanwhile, Russian Finance Minister Anton Siluanov said on Wednesday that Russia's oil production could fall by 17% this year due to sanctions. Market participants seriously admit that a very likely decision on a complete embargo on the supply of Russian energy resources may provoke a shock scenario, as a result of which the shortage of oil and petroleum products on the world market will increase to 3 million barrels per day.
This news background completely offset the prevailing effect on prices, which was previously caused by concerns about the prospects for global economic growth due to anti-COVID restrictions in China. Investors are concerned about the spread of COVID-19 in Beijing, which could force the Chinese government to impose a general lockdown on the city. The prolonged lockdown in Shanghai, China's largest city and commercial hub, has already weighed on the oil market, undermining demand expectations.
Considering all of the above, it is most likely more profitable to hold oil longs. Technical analysis just supports this rhetoric. The chart shows two long entry points. The conservative target for this week is the 110$ level, it makes sense to also consider the 115$ level.
🔥 BRENT Forecast Results 🔥
☑️BRENT: small update 👉 +590 points ✅:
⭐️BRENT: forecast for Apr 25-Apr 29 👉 +531 points ✅:
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DeGRAM | UKOIL short opportunity at confluent zoneUKOIL has been making lower lows on the Daily timeframe. Bears are pulling price down. Currently, price is testing strong trendline and resistence zone 110$. This number is very psychological meaning that a lot of sell orders at 110$ price that creates a powerful confluent zone.
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USOIL - Russian oil ban = higher oil pricesMore than a week ago, we warned about potential EU's ban on Russian oil and the risk it poses for the higher price of oil. We suggested that this step would lead to higher prices of oil in the short-term. Just two days ago, Germany was reported to back a gradual ban on Russian oil. Because of that we abandon our short-term and medium-term price targets. Although, our long-term price target remains in place.
Technical analysis - daily time frame
RSI points to the upside which is bullish; however, over the past few days, it shows choppy pattern. MACD oscillates near the midpoint; if it manages to break above it, then we expect it to bolster a bullish case for USOIL. Stochastic is bullish. DM+ and DM- are bearish but due to perform bullish crossover. ADX signals presence of no significant trend. Overall, the daily time frame is bullish for USOIL.
Illustration 1.01
The illustration above shows the rectangle pattern - in which most of the choppy price action has been going on lately.
Technical analysis - weekly time frame
RSI is neutral. MACD is highly elevated and flattening at the same moment, which makes it neutral. Stochastic reversed to the upside. DM+ and DM- show bullish conditions in the market. However, ADX's signals that these conditions deteriorated over the past four weeks. Overall, the weekly time frame is mixed.
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 serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
USOIL | Crudeoil | FlagndPole Breakout is eargely waiting USOIL | Crudeoil | FlagndPole Breakout is eargely waiting
Price of oil moves according to my ideaPrice of oil moves strictly according to my idea. I set as the first purpose level about 98, correction within a triangle is possible further. But, as a result, decrease to level 88 should be the following movement. Therefore I consider correction for a set of the new short positions.
Information provided is only educational and should not be used to take action in the market.
Purpose 88Oil finishes correction. The price showed a turn in the week graph long ago. Now will act as the purpose not 98, but 88. That is the occurred rebound which removed oversold should give new force for decrease. Thereby the price will leave a triangle.
Information provided is only educational and should not be used to take action in the market.
BRENT CRUDE OIL BULLISH PREDICTIONSBoth WTI and BRENT Crude Oil benchmarks rose in price on Tuesday (26th of April) after China announced that it will support its economy in case of a lockdown and the fears of diminishing demand have been eased.
If the rally continues it will most likely test its previous high at 109.5, in the opposite scenario, the price might test its support at 99.3
MACD and RSI are showing a slow down of the bullish trend from the last few hours, but with eased lack of demand fears the price might return its momentum.
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BRENT OIL TARGETSUKOIL has 2 scenarios
1rst one is the price go up from 107 => 111 than retrace back to 108
2nd one is going down from 107 => 101 and retrace back to 104 or even 107
or drop more till 98.00 and than retrace back to 100 per barrel
USOIL - A gloomy outlook for WTI oilA few weeks ago, we noted that we believe USOIL peaked and is headed lower. Indeed, we set a long-term price target of 90 USD. Now, we would like to change this price target to medium-term and set a new long-term price target of 80 USD. Additionally, we would also like to set a short-term price target of 95 USD.
Illustration 1.01
Yellow arrows indicate the recent bullish breakout (above the trendline) and subsequent loss of momentum.
Technical analysis - daily time frame
RSI, MACD, and Stochastic are bearish. The same applies to DM+ and DM-, which recently performed the bearish crossover. In addition to that, ADX halted its decline, suggesting the resumption of the bearish trend. Overall, the daily time frame is bearish for WTI oil.
Technical analysis - weekly time frame
RSI and Stochastic are developing bearish structures. MACD performed the bearish crossover. DM+ and DM- show bullish conditions in the market. However, ADX signals that the bullish trend is losing momentum. 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 serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Brent: Parking Assistant 🚗Beep beep, beepbeepbeep, beebeepbeepbeepbeeeeeep
Brent seems to have afforded a parking assistant, judging by the neat way in which it has entered our white zone between $106.12 and $99.47 to finish wave c in blue and wave (B) in white. We expect it to turn around soon and to head for the next parking lot above $114.74, the green zone between $117.78 and $133.52. After Brent has completed wave B in green and wave (C) in white there, it should turn again and home in on the support at $97.56.
⭐️BRENT: forecast for Apr 25-Apr 29➡️ Last week, Brent crude made a major peak at 141$ . It is expected that oil will continue to move in the range of 104.10$ - 114.83$ .
The breakdown of the level of 104.10$ and the closing of the price above this level is the main condition for going long. The long target lies at the level of 109.53$ , further growth may continue to 114.83$ .
🔥 BRENT Forecast Results 🔥
☑️BRENT: small update 👉 +590 points ✅:
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Same purpose 98The price moves according to my idea of April 19. Following purpose of decrease 98. In case of overcoming this support down, reduction of price to level about 88 is possible.
Information provided is only educational and should not be used to take action in the market.
