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BRENT trade ideas

Oil Reverse Inverse Cup &HandleOil Reverse Inverse Cup &Handle 1.Price Formation: The price has broken out from a Reverse Inverted Cup & Handle price formation on a daily chart. 2.Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a further confirmation of bearish sentiment. 3.200-day Moving Average is above the Price. 4.Thus, Mas 7<21<200 5.Relative Strength Index (RSI): The RSI is < than 50, indicating bearish momentum and potential further downward movement. 6.Price Target: 70
TVC:UKOILShort
by Sahle
Citi Analysts Expect Brent to Reach $73 in 2024Since the beginning of November, the price of Brent oil has decreased by more than 5%. This is due, among other things, to easing concerns about the escalation of the military conflict in the Middle East. According to the latest news: → Reuters: Iran does not plan to fight with Israel on the side of Hamas; → the UN Security Council adopted a resolution regarding the conflict. Data on the growth of oil reserves in the United States above expectations also contributed to the price decline. Commercial crude oil inventories rose 4% to 439.4 million barrels from 421.9 million barrels last week, according to the Energy Information Administration. This is the highest inventory level since August. Technically, the price of Brent oil is in a downtrend (shown by red lines). Moreover: → on November 14, the Brent price tested the median line, which acted as resistance; → during this test, a bearish engulfing pattern was formed, which confirms the aggressiveness of sellers; → USD 81.81 may now serve as immediate resistance while another important level of USD 84.50 appears out of reach – at least in November. If sellers strengthen their control, it is possible that the price of Brent oil may reach the lower line of the channel and thereby get closer to the forecasts of Citi analysts. In their opinion: → the forecast Brent price is USD 73 by the second quarter of 2024; → the forecast Brent price at the end of 2024 is at USD 68 per barrel. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
3
UKOIL potential downtrendThere is a possibility that the UKOIL, a trading instrument representing the price of crude oil in the United Kingdom, might experience a downward trend. The recommended take-profit (TP) level is at 77.2, while the suggested stop-loss (SL) level stands at 84.25. However, it's crucial to emphasize that engaging in any financial trading activity carries inherent risks. The TP and SL levels provided are merely speculative and based on an analytical idea or forecast. The volatility and unpredictability of the commodities market, especially concerning oil prices, are influenced by multifaceted factors such as geopolitical tensions, global demand-supply dynamics, economic indicators, geopolitical events, and unforeseen natural disasters, among others. This inherently complex and dynamic nature of the market renders any predictions subject to change or deviation. Investors and traders should conduct thorough research, employ risk management strategies, and exercise caution when making financial decisions. It's advisable to consider various sources of information, consult with financial advisors or experts, and assess one's risk tolerance and financial objectives before executing any trade based on speculative forecasts or trading ideas. Moreover, the terms TP and SL denote the take-profit and stop-loss levels, respectively, indicating the targeted price at which a trader aims to close a position to secure profits or limit potential losses. These levels serve as guiding markers, aiding traders in managing their risk exposure and ensuring disciplined trading practices. Nevertheless, it's essential to remain vigilant and adaptable in response to market fluctuations and unexpected developments that might impact the price movements of UKOIL. In conclusion, the forecast suggesting a potential downward movement in UKOIL with specified TP and SL levels should be regarded as a trading idea rather than a definitive prediction. Engaging in financial markets demands informed decision-making, risk awareness, and a comprehensive understanding of the intricate dynamics driving commodity prices. Traders are encouraged to exercise prudence, stay updated with market trends, and use analytical tools while acknowledging the inherent uncertainties associated with trading.
TVC:UKOILShort
by ArminMah
Oil Brent - H4Oil Brent W1 - The formation of a 3-wave structure continues D1 - The price has reached 161 lvl. 3rd wave, which may mean further movement down to level 200 - 261 H4 - The price is in the correctional 4th wave, you can see the formation of an ascending channel. If the lower trend line is broken or fixed behind it, further sales to the levels of 75.4 can be considered You can also consider entering from the formation of a double top and further movement to the lower boundary and beyond. What to expect now? Expectation of breaking through the level of 82.20 and fixing the lower border from the level of 81.15. When opening a position, it is best to exit the position from the level of 83.60; if this scenario does not materialize and the price may return to the local range, wait for the lower border of the channel to be broken. Short Targets 80.00 - 79.16 - 78.43 - 76.87 - 75.41
TVC:UKOILShort
by Trade_Hive_Signals
Brent oil prices bounced back Brent oil prices bounced back from the multi-month low touched on Wednesday, hedging just over the $80 per barrel level in early morning trading. Crude prices suffered this week, dropping more than 5% on future demand concerns, as well as lowered perceived supply risks from the Israel and Gaza situation. Inflation data from China, the world’s top oil importer, revealed a disinflationary trend that could be the precursor to a slowdown in economic activity that may lead to reduced energy consumption. At the same time, US crude inventories are growing, reaching the highest level since February. Completing the bearish scenario for crude is the growing sentiment amongst traders that the conflict in Gaza is unlikely to escalate and disrupt the global oil supply. Ricardo Evangelista – Senior Analyst, ActivTrades
ACTIVTRADES:BRENTLong
by ActivTrades
UKOil Brent Technical Analysis And Trade IdeaIn this video, we embark on a comprehensive analysis of UKOil, with a specific focus on the prevalent bearish sentiment observed in the 1-month (1M) and 1-week (1W) timeframes. Notably, our charts reveal that Brent has approached a critical support level, a pivotal juncture. Throughout this presentation, we delve into the fundamental tenets of technical analysis, encompassing essential components such as evaluating the current market trend, price dynamics, market structure, and other indispensable aspects of technical analysis. As we progress through the video, we meticulously scrutinize a potential trading opportunity in Brent Oil. It is imperative to stress that the insights shared in this content are exclusively intended for educational purposes and should not be misconstrued as financial advice. Participating in the foreign exchange market trading carries a significant level of risk. Therefore, it is vital to prudently incorporate robust risk management strategies into your trading plan to navigate these challenges effectively.
TVC:UKOILShort
by fxtraderanthony
Brent Crude : Currently undergoing a complex WXY correctionBrent Crude is currently on a bearish trend and may be approaching a demand zone with prices falling within the range of 83.5 - 84.5. It's possible that a price rebound could occur in this range, targeting levels between 87.5 and 89. However, it's worth noting that resistance may emerge at these levels, potentially leading to a subsequent downward price movement. Currently, the market seems to be in the initial phase marked as "leg a" of Y of a corrective pattern denoted as W-X-Y. This correction could potentially find its conclusion in the price range of 78-80. Interestingly, this range closely aligns with the 61.8% Fibonacci retracement level, calculated from the low point of 71.47 on May 31, 2023, to the high point of 95.91 reached on September 19, 2023.
TVC:UKOIL
by aashish_shetty
Oil Brent - W1Oil Brent W1 - The price has formed a 3-wave structure, which may indicate a trend reversal, and if this scenario is implemented, it will be possible to potentially see the price at the level of 66.30. Judging by geopolitical data, due to the rise in oil prices and the growth of the asset, there was a local movement. To confidently enter sales, it is better to wait for the level of breaking through the 1st wave of 83.30 to be fixed. What to expect now? Waiting for the breakout and fixation at the level of 83.30. When opening a position, it is best to exit the position from the level of 88.13, if this scenario does not materialize and the price may return locally to the range of 85 - 95 Complete cancellation of the script mark 93.83 Short Targets 81.18 - 76.73 - 72.80 - 66.30
TVC:UKOILShort
by Trade_Hive_Signals
Brent $70-80 rangeI see Brent heading to the $70-80 range in November and December. I believe this will be driven by economic worries. I believe either the Ukraine and Gaza wars will de-escalate. I see cost of living like mortgages putting downward price pressure on house prices which will drag the stock market down. I also see Gold being priced too high because the norm is 15 and it is currently 22. I see Iran ramping up oil production to supply china and i see US shale oil ramping up to fill the SPR
TVC:UKOILShort
by UnknownUnicorn547373
1
What Are Market Cycles And How Can You Use Them?Market cycles are a cornerstone of financial trading, shaping the opportunities and risks faced by traders across various markets. This article delves into the key phases of market cycles, how they manifest in different trading arenas, and how traders can capitalise on these predictable patterns for trading success. The Four Phases of Market Cycles Market cycles typically consist of four main phases: Accumulation, Markup, Distribution, and Markdown. Understanding these phases is integral for traders looking to maximise gains and minimise losses across all kinds of markets. Accumulation This is the first phase where savvy investors start buying, often when the market is flat or bearish. Prices are at a low, and there's little interest from the general public. Trading volumes may be lower during this period, making it an opportune time for informed traders to accumulate assets. Markup Following accumulation, prices start to rise. This phase is marked by growing investor confidence and increased media attention. It's during the markup phase that the majority of traders enter the market, lured by signs of a bull market. Technical indicators such as moving averages and RSI often show upward trends. In the market cycles chart above, we can see the crossover between a 21-period and 50-period Exponential Moving Average (EMA) lining, pointing to bullishness as the markup begins. Distribution After the markup phase peaks, we enter distribution. In this stage, those who accumulated assets early begin to sell, taking their profits off the table. This phase often has periods of sideways price movement and can be difficult to distinguish from a continued markup phase. However, trading volumes usually increase as both buying and selling activity rise. Markdown Finally, there's the markdown phase. In this stage, prices drop, often rapidly. General investors, late to exit, incur losses. This decline continues until assets are considered undervalued, setting the stage for another accumulation phase. Market Cycles Across Different Markets Understanding market cycles isn't limited to one type of market. Let's delve into how market cycles manifest in different arenas like stock, forex, commodity, and cryptocurrency* markets. Stock Market Cycles The stock market perhaps shows the clearest cycles, mainly due to its long history and extensive data for analysis. Stock market cycles often correlate with economic conditions, and they can span months to several years. Accumulation phases often occur during recessions, followed by markup phases during economic expansion. Distribution and markdown stages might coincide with economic slowdowns or contractions. Forex Market Cycles Currencies trade in pairs in the forex market, making their cycles somewhat different. Currency pairs are influenced by global economic indicators and events, from GDP growth to interest rate changes. Cycles here are often shorter, sometimes only lasting a few weeks or months, making rapid strategy adjustments crucial. Commodity Cycles Commodities like gold, oil, and agricultural products have their own cycles, often tied to supply and demand fundamentals. For instance, oil prices may rise during geopolitical tensions (markup) and fall when new supply routes open (markdown). Crypto* Market Cycles The crypto* market is relatively new but has exhibited distinct cycles, mainly due to its 24/7 trading environment and high volatility. Accumulation often occurs after a significant price drop when the general sentiment is negative. Markup phases can be exceedingly rapid, sometimes only lasting weeks or even days, followed by equally swift distribution and markdown phases. Driving Forces Behind Market Cycles Market cycles are influenced by a combination of economic and psychological factors that shape the behaviour of traders and investors. Identifying these driving forces can provide valuable insights for market participants. Economic Factors Fundamental economic indicators such as GDP growth, interest rates, and inflation often serve as catalysts for market cycles. For example, low interest rates might kickstart an accumulation phase as borrowing costs are low, and investment opportunities look more appealing. Similarly, a hike in interest rates may signal a distribution or markdown phase as investors seek to exit riskier assets. Psychological Factors Market sentiment plays a crucial role in the cyclical behaviour of financial markets. Ideas like the stock market’s 7-year cycles, although not empirically proven, can influence investor psychology. This concept suggests that financial crises occur roughly every seven years, contributing to a sense of impending doom as a cycle reaches this time frame. Such psychological factors can sometimes be self-fulfilling prophecies, leading traders to make decisions based on perception rather than underlying economic conditions. How Traders Use Market Cycles to Their Advantage Traders leverage their understanding of market cycles to formulate strategies that capitalise on each phase's unique characteristics. Here are some ways traders use market cycles to their advantage: Long Positions in Accumulation Phase During the accumulation phase, informed traders often take long positions, buying undervalued assets in anticipation of a markup phase. They look for signs of a potential upturn, like increasing trading volume or bullish divergence in technical indicators such as RSI or MACD. Platforms like FXOpen’s native TickTrader offer such technical tools for recognising and capitalising on market cycles. Riding the Markup Wave Once in the markup phase, traders may employ trend-following strategies like moving average crossovers to seize the momentum. Short Selling in the Distribution Phase Recognising the onset of the distribution phase is key to taking countermeasures. Traders might employ short selling to profit from declining prices. Technical indicators, such as a moving average crossover from bullish to bearish, could serve as signals for initiating short positions. Hedging in Markdown Phase During the markdown phase, traders often consider trend trading strategies and look for effective entry points in downtrends. The Bottom Line Understanding market cycles is a fundamental skill for traders, providing valuable insights into when to buy or sell various assets. Whether you're navigating the stock market or dabbling in forex, a well-rounded grasp of these cycles can greatly enhance your trading strategy. To put these insights into action, consider opening an FXOpen account to access each of the markets discussed here. *At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSDEducation
by FXOpen
How to Trade Crude OilLearning how to trade crude oil requires a nuanced understanding of its fundamental aspects, instruments, and trading strategies. This comprehensive article offers insights into the critical elements that affect crude oil prices, the range of instruments available for trading, and specific strategies traders use in this market. The Basics of Crude Oil Crude oil, often referred to as "black gold," is a fossil fuel derived from the remains of ancient organic matter. It serves as a crucial raw material for various industries, including transportation, chemicals, and manufacturing. Two primary types of crude oil traded on global markets are West Texas Intermediate (WTI) and Brent Crude. WTI is primarily sourced from the United States and is known for its high quality and low sulphur content. On the other hand, Brent Crude originates mainly from the North Sea and serves as an international pricing benchmark. The Organization of the Petroleum Exporting Countries (OPEC), which includes members like Saudi Arabia, Iran, and Venezuela, plays a pivotal role in determining global oil supply. By adjusting production levels, OPEC influences crude oil prices significantly. Additionally, other regions like Russia and the United States contribute to the world's oil supply, further affecting market dynamics. Factors Affecting Crude Oil Prices In oil trading, economics is a fundamental aspect that traders need to grasp to make educated decisions. Several factors drive the price of crude oil, and here are some of the most significant: Supply and Demand: At its core, the price of crude oil is determined by how much of it is available (supply) versus how much is wanted (demand). An oversupply can depress prices, while high demand can cause prices to spike. Geopolitical Events: Conflicts, wars, and diplomatic tensions in oil-producing regions can disrupt supply chains, affecting prices. For instance, sanctions on Iran or instability in Venezuela can push prices higher. Currency Fluctuations: Oil prices are generally quoted in US dollars. A strong dollar can make oil more expensive for countries using other currencies, thereby affecting demand. Seasonal Changes: During winter, demand for heating oil can rise, pushing crude oil prices up. Conversely, a mild winter might result in lower demand and prices. Technological Advances: Innovations in extraction methods, such as fracking, can alter the supply landscape, making it easier to extract oil and thereby affecting prices. OPEC Decisions: As previously mentioned, OPEC has a significant influence on oil prices. Their production quotas can tighten or flood the market, causing price swings. Economic Indicators: Data like unemployment rates, manufacturing output, and interest rates can indicate the health of an economy, which in turn can affect oil consumption and prices. How Is Crude Oil Traded? When learning how to trade crude oil, traders have a variety of instruments to choose from. However, it’s also important to be aware of its trading hours and how leverage is used. Crude Oil Instruments Futures Contracts: A futures contract is an agreement to buy or sell a specific quantity of crude oil at a predetermined price on a specified future date. Both WTI and Brent Crude have their own futures contracts traded on exchanges like the New York Mercantile Exchange (NYMEX). Contracts for Difference (CFDs): This financial derivative allows traders to speculate on oil price movements without owning the actual commodity. Essentially, you're entering into a contract with a broker to exchange the difference between the opening and closing prices of the crude oil position. Exchange-Traded Funds (ETFs): These are investment funds traded on stock exchanges. ETFs such as the United States Oil Fund (USO) or the SPDR S&P Oil & Gas ETF (XOP) provide exposure to oil prices by either tracking the commodity's price or investing in oil-related equities. Options: These financial instruments give traders the right but not the obligation to buy or sell crude oil at a fixed price before a certain date. They offer more flexibility but are generally considered riskier due to their complex nature. Spot Market: In the spot market, physical crude oil is bought and sold for immediate delivery. However, this is less common for retail traders due to the logistical challenges involved. At FXOpen, we offer both WTI and Brent Crude CFDs. To get started with oil trading, software such as our free TickTrader platform can provide the technical analysis tools necessary to analyse crude markets. Trading Hours Crude oil markets are open almost around the clock, offering high liquidity and the potential for trading opportunities at various times. The New York Mercantile Exchange (NYMEX), for example, is open for trading from Sunday evening until Friday afternoon, with a daily trading break. The most active trading hours are generally during the US (9:00 AM to 2:30 PM EST) and European sessions (6:00 AM to 11:00 AM EST). Leverage Leverage allows traders to use small amounts of capital to control a larger position. While this can amplify profits, it also increases risk. Most retail traders opt for trading crude oil through CFDs, which often come with higher leverage options, making it essential to manage risk carefully. Crude Oil Trading Strategies Given the volatile nature of crude oil prices, traders employ specific strategies to capitalise on price fluctuations. Here are some strategies particularly useful for crude oil trading: Trend Following with Moving Averages The trend is your friend, especially in commodities like crude oil. One effective way to follow the trend is by using moving averages, such as the 50-day (blue) and 200-day (orange). When the 50-day crosses above the 200-day, it's generally a bullish signal, and vice versa for a bearish trend. However, as with all technical analysis tools, moving averages can sometimes trigger false signals. Range Trading Due to supply-demand dynamics and geopolitical factors, crude oil prices often fluctuate within a specific range. Identifying these ranges can be useful for short-term trading. Traders buy at the lower end of the range and sell at the higher end, applying technical indicators like RSI or Stochastic Oscillator for entry and exit signals. News-Based Trading In crude oil markets, news about OPEC decisions, US oil inventory data, geopolitical tensions, and technological advancements can dramatically impact prices. Traders keeping an eye on oil news can take advantage of sudden announcements or an economic release likely to push prices in a particular direction. Given the high leverage commonly available in CFD trading, this strategy can be profitable but also comes with significant risk. The Bottom Line In crude oil trading, having the right strategies and tools is essential for success. By understanding the fundamentals, market dynamics, and utilising specific trading techniques, you are now equipped with the knowledge you need to get started. To access these markets with competitive spreads and rapid execution speeds, consider opening an FXOpen account and step confidently into the world of crude oil trading. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSDEducation
by FXOpen
16