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Oil Brent - H4\D1Oil Brent The nearest target is at 96.00 in continuation of the 5th wave on D1 H4 - there was a fixation behind the correctional channel and a 3-wave structure may form, which may indicate continued movement up the trend. What to expect now? Expectation of breaking through the level - 89.25, locally the target is 91.40 - 94.88 When opening a position, it is best to exit the position from the level of 86.47 - 85.66, if this scenario does not materialize. Long Targets 89.98 - 91.40 - 92.75 - 94.88 - 96.00
TVC:UKOILLong
by Trade_Hive_Signals
OIL EW COUNT (potential hedge against recession)Just a EW count on OIL Personally I dont think there is huge upside on OIL, but if we get a nice pullback towards the $50-$47 area, could be worth it to take a position and hold it for few years especially if markets get choppy volatile and give off massive dumps - please check my analysis on SPY: and NDX: I will provide a more in depth analysis on these important charts over the next few weeks as markets print and provide us more clarity.
TVC:UKOIL
by CryptoHolix
Crude Oil: Planning Strategies Today Through the analysis of the hourly chart of crude oil, we know that the market rose first and then fell yesterday, forming a shock upward breakthrough trend yesterday. By comparing with the previous period, we already said last week that we expected to form a bullish trend. When the high level fell in the early period, all the moving averages began to turn around. The downward movement forms a turning point from bull to bear. From the formation of a wave of decline, all the moving averages have formed a bull trend. All the moving averages below are supports, and the MACD below has always been running above the zero axis. The market is very likely to make further upward breakthroughs. In terms of operation, we continue to think high and low and focus on going long on dips and shorts. The specific suggestions are as follows: Crude oil 90 and 91.50 are long respectively. Crude oil is short at 95.0 and 95.6 respectively.
TVC:UKOILLong
by Dylan-Jones
On Factors Influencing the Price of Oil: Biden, Israel, VenezuelPushing off the lower boundary of the ascending channel, the price of Brent oil rose by more than 8% amid fears of an escalation of conflict in the Middle East, which should pose a problem both for the US economy, which suffers from high inflation, and for President Biden personally on the eve of the elections. The situation is aggravated by the fact that oil reserves in US strategic storage facilities are near minimums since 2014. That is why: → it can be assumed that the goal of containing the rise in oil prices was one of the motives for Biden’s visit to Israel on Wednesday. It is expected that the price of oil may be affected by Biden's speech from the Oval Office, scheduled for Thursday evening 20:00 ET (or Friday night at 03:00 GMT+3); → the United States has eased sanctions against Venezuela, which has the largest oil reserves in the world. From a technical analysis perspective, a rally from the October lows (B) after a decline from the September highs (A) may confirm that important divergent drivers are battling in the market. The Brent crude oil chart shows that: → resistance is provided by the median line of the ascending channel; → resistance is also observed from the level of USD 91, which served as support in September; → the presence of selling pressure is also evidenced by the long upper shadow on yesterday’s candle. However, will the resistance be able to hold out if the situation in the Middle East, which provides a third of world oil consumption, continues to escalate? According to Bloomberg, there are concerns that Israel's expected ground offensive on the Gaza Strip could provoke a more aggressive response from Iran-backed Hezbollah in southern Lebanon and perhaps from Tehran itself. 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
Oil: Bullish Momentum Continues on Supply Disruption ConcernsTechnical Analysis 15-minute chart: On the 15-minute chart, Brent oil is currently trading in a bullish uptrend. The price is above the 20-period and 50-period moving averages, and the MACD indicator is above its signal line. This suggests that the bulls are in control and that the price is likely to continue to rise in the near term. 4-hour chart: On the 4-hour chart, Brent oil is also trading in a bullish uptrend. The price is above the 20-period and 50-period moving averages, and the MACD indicator is above its signal line. However, the RSI indicator is nearing overbought territory, which suggests that a pullback may be due in the near term. Daily chart: On the daily chart, Brent oil is also trading in a bullish uptrend. The price is above the 20-period and 50-period moving averages, and the MACD indicator is above its signal line. The RSI indicator is also in neutral territory, which suggests that there is no overbought or oversold condition. Overall, the technical analysis suggests that Brent oil is likely to continue to rise in the near term. However, investors should be aware of the potential for a pullback if the RSI indicator enters overbought territory. Trading Strategy Traders who are bullish on Brent oil could consider buying the dips. A stop loss could be placed below the 20-period moving average, and a take profit target could be placed at the next resistance level. Traders who are bearish on Brent oil could consider shorting the rallies. A stop loss could be placed above the 20-period moving average, and a take profit target could be placed at the next support level. I hope this post is helpful. If you agree with the idea, please follow and share this with others too. This analysis is based on the information at the date it is posted. This analysis does not represent professional and/or financial advice. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information. Any feedback is encouraged and appreciated. Thank you and have a nice day!
CAPITALCOM:OIL_BRENTLong
by YExplore
TradePlus-Fx|BRENT: now on sell💬 Description: Oil remains one of the most interesting instruments at the moment, which is due to the aggravated geopolitical background. Metals are the same story. In our previous trading idea for oil, we assumed entering a long position with the goal of reaching level 91 . This happened, but the main idea and the more promising one - sell. At the moment, a good context has been formed to enter the short, as we need. One can consider a dynamic set of positions, since a false breakout upward cannot be ruled out, after which the price will fall even more rapidly. The target of the trade is located at the gap formation level, that is, at level 85 . 🔔 FX CALENDAR TODAY 🔔 🇪🇺Trade Balance 🇺🇸NY Empire State Manufacturing Index 🇺🇸Federal Budget Balance ➖➖➖➖➖➖➖ 🚀Thank for your BOOSTS 🚀 👇Share your views and FOLLOW US 👇
TVC:UKOILShort
by TradePlus-Fx
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