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BRENT trade ideas

UKOIL (Brent) Technical Analysis - VideoIn my previous post, I shared my analysis on Brent crude oil. Here's a video explaining the reasoning behind my trade idea: Currently, Brent is trading within a daily range-bound channel. It's pushing against the upper boundary, which hints at a possible retracement to test previous lows. Interestingly, historical data over the past decade suggests that March tends to be a bearish period for Brent. Disclaimer: Remember, this analysis is based on technical factors and should not be seen as direct financial advice. Trading commodities is inherently risky. Before making any trades, always consult with a qualified financial professional and carefully consider your own risk appetite.
TVC:UKOILShort
by fxtraderanthony
UKOIL (Brent) Technical AnalysisBrent crude oil is presently confined within a daily range-bound channel. The price is currently testing the upper bounds of the range, suggesting a potential retracement to retest previous lows. This analysis incorporates a seasonal perspective – historical data over the past decade indicates a tendency for Brent to experience declines during the month of March. Disclaimer: This analysis offers a technical viewpoint and does not constitute direct financial advice. Trading commodities carries inherent risk. Always consult a qualified financial professional and carefully evaluate your individual risk tolerance before making investment decisions.
TVC:UKOILShort
by fxtraderanthony
UKOil Bullish**Monthly Chart** UKOIL last month candle closed bullish after it tested the demand zone in Dec 2023 around 70 levels. This suggests a continuation of the bullish trend at least to test the MC around 95 level. **Weekly Chart** UKOil weekly chart shows bullish momentum although it has been moving in consolidation mode for the past three weeks. Last week's candle closed bullish and it is currently moving towards balancing the IPA (FVG) and MC around 92 level. **Daily Chart** The first target as per the daily chart is at 85 level (imbalanced area), then will look for a trade setup to take it long in the next few weeks. However, it might be a risky entry around this level because of IPA which might create resistance.
TVC:UKOILLong
by PropSignals
Brent (ICE) may fall to 81.80 - 82.30Pivot 83.10 Our preference Short positions below 83.10 with targets at 82.30 & 81.80 in extension. Alternative scenario Above 83.10 look for further upside with 83.60 & 84.00 as targets. Comment As long as the resistance at 83.10 is not surpassed, the risk of the break below 82.30 remains high. Supports and resistances 84.00 83.60 83.10 82.74 Last 82.30 81.80 81.50 Number of asterisks represents the strength of support and resistance levels.
BLACKBULL:BRENTShort
by Daniel_Thompson
Brent is on FIRE! New Bullish Momentum or Pullback?In this morning's Asian market hours, optimism about a possible interest rate cut by mid-year boosted the market sharply causing it to start unexpectedly strong, especially the oil market, including both West Texas and Brent crude oil in a tremendous price rally. Brent futures experienced a notable increase. At the start of the European session, an increase in expectations was also observed, resulting in a rise in European stocks. In a matter of hours, the price of a barrel of Brent rose from $81.64 to $82.91. The rise in Asian hours in Brent and West Texas futures contracts expiring in May was 0.4% and 0.3% respectively, being at the European opening of more than 1%. German conflicts to receive supply with the active NordStream line may especially affect chemicals, gas derivatives and European oil prices added to the ukranian conflict. In addition, economic data from several Eurozone countries such as Italy, Spain, Portugal, Ireland, and later at the American opening, manufacturing PMIs from the United States and Canada, may have a significant impact on oil prices. From a technical standpoint, it is unlikely that we will see the $135 per barrel seen in 2022 again in the near term. However, it is possible that the falling range has reached its low around the $71.47 seen in December, and could head towards $95.12 if the current uptrend continues. The RSI indicates an oversold level of 62.6%, which suggests that there is still room for the trend to continue, although the RSI average system marks us a value of 53.03% which is basically a strong irregularity in demand. If we look at the crosses of averages, they show us an opening that could lead to a strong move that is yet to develop. Ion Jauregui - AT Analyst The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
ACTIVTRADES:BRENTLong
by ActivTrades
BRENT - Interesting sell zone!Hello everyone! The plan is still in effect; I've taken a second entry! - Here's my view on BRENT: - We have liquidity. - We have an interesting zone. - We have the optimal Fibonacci. - We have accumulation before/on the zone. - We are with the trend. Fundamentally, we'll continue to monitor the evolution of conflicts in the Middle East because they can significantly impact the price of oil in case of escalating tensions! Given that we have the largest oil producers there, having conflicts nearby is concerning! So, stay cautious. That's why I see BRENT drop in the zone and bumping! 🚀 If you liked it and want more, don't hesitate to subscribe and boost the post!
BLACKBULL:BRENTShort
by ex_rico
BRENT - Interesting sell zone!Hello everyone! The plan is still in effect; I've taken a second entry! - Here's my view on BRENT: - We have liquidity. - We have an interesting zone. - We have the optimal Fibonacci. - We have accumulation before/on the zone. - We are with the trend. Fundamentally, we'll continue to monitor the evolution of conflicts in the Middle East because they can significantly impact the price of oil in case of escalating tensions! Given that we have the largest oil producers there, having conflicts nearby is concerning! So, stay cautious. That's why I see BRENT drop in the zone and bumping! 🚀 If you liked it and want more, don't hesitate to subscribe and boost the post!
BLACKBULL:BRENTShort
by ex_rico
BRENT - Interesting sell zone!Hello everyone! The plan is still in effect; I've taken a second entry! - Here's my view on BRENT: - We have liquidity. - We have an interesting zone. - We have the optimal Fibonacci. - We have accumulation before/on the zone. - We are with the trend. Fundamentally, we'll continue to monitor the evolution of conflicts in the Middle East because they can significantly impact the price of oil in case of escalating tensions! Given that we have the largest oil producers there, having conflicts nearby is concerning! So, stay cautious. That's why I see BRENT drop in the zone and bumping! 🚀 If you liked it and want more, don't hesitate to subscribe and boost the post!
BLACKBULL:BRENTShort
by ex_rico
UKOIL LONGso I have been studying historical profiles and I have been observing quite interesting stuff there. refer the chart attached - inside it I have pasted same UKOIL profile from Q1 of 2018. almost similar profiles and movement there. there too fresh week's price opened out of value and pushed up, didn't pullback. this week same thing happened. so if this is to continue, I believe the price today will not pullback to my intended level and will keep on to the long side. I have planned for this scenario. if price is to hold above 82.99, I will look for long entry. I will not risk anything on it as it is something that I am still testing out. I will however mark this up and journal it.
TVC:UKOILLong
by Osiris992