UKOILUKOIL is forming a big triangle by making lower highs and higher lows.
Price has previously made sharp moves downward from the 112$ level.
There is a good chance the level could hold the price.
Crude Oil Brent
USDWTI H4 - Short Setup, Oil supplyUSDWTI H4
Saw a nice hold up on the D1 yesterday on a clear area of daily resistance. Interested to see if this is the point of reversal, we have had a nice trading range for the best part of two months here.
Stops to cover wicks dated back to March 21. 6.5R trade to take us down to $95 as mentioned yesterday.
Expected Key Points USOIL 17 May 2022USOIL 17 May 2022
The daily expected volatility is around 3.53%
With an 77% accuracy based on the historical data, we can assume that the price of USOIL today is going to be between
TOP 117.70
BOT 109.7
All of this taken into account with the opening price of today which was 114
From VOLUME POC point of view its above 114 which imply a bullish momentum at this very moment.
From Fundamental/News point of view that can affect USOIL price:
In 10h from now, FED Chair Poweel speaks
USDCAD has bearish factorsBond yields are starting to fall
And oil is rising again, as USOIL is currently at $114.17 a barrel, which supports the Canadian dollar
So the USDCAD pair has bearish factors
technically
The end of a five-wave impulse rise and the beginning of a strong decline
Important observation area
2820 - 2780
LONG UK BRENT VS US WTI OIL SPREADoil spread at decade lows... european oil much more likely to spike due to russia.
low risk arb opp given nature of spread.
the risk of war is on the lowest levelI was looking for an index to find out the risk of war on the markets and made this index:
(a*BTC+b*NASDAQ)/(c*GOLD+d*OIL)
I choose the coefficients to scale the parameters and make them in the same order.
WTI Crude Oil - What a surprise! Incredible! 29.4The consolidation period of close to 12 weeks is likely coming to an end with a breakout up!
A close above 102.90 (triangle consolidation resistance level) allowed the price action to proceed with up-trend targeting:
*108.30-108.50
*114.80-115
*124
*132
Width of triangle is usually the target of the breakout in terms of size of movement
This could make sense fundamentally as inflation continues to grow together with Russian oil supply fears which is likely to fall by 20% , Europe may struggle with oil supply and this offsets China's lock down for now.
Of course this may be a fake out, weekly close and next weeks open is likely to call the bluff if price returns to below 100 with a daily close.
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DeGRAM | UKOIL short at confluent zoneUKOIL is forming a big triangle by making lower highs and higher lows.
Price has previously made sharp moves downward from the 112$ level.
There is a good chance the level could hold the price.
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USOIL CAMPARED TO UKOIL ...!I've just published an idea about USOIL that you can check it out in my channel. The same move as the Usoil for Ukoil ...
CRUDE OIL (WTI) Important Breakout & Bullish Outlook🛢
It looks like WTI broke and closed above a key daily structure resistance.
Now the market will most likely go higher.
The next resistance on focus: 114.3 - 116.6 area
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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.
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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👇🔥 LINKS TO PREVIOUS IDEAS AND FORECASTS 🔥👇
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.
Your trading plan explained.
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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.
