Usoil we can buy herHarmonic equilibrium routing
Wecan buy here .This is a reversal area and can break the last high
BRENT trade ideas
Support and Resistance For Brent Crude Oil (UKOIL)Strong resistance for UKOIL is at level 86.55 and currently rejected. As we can see, the intermediate uptrendline also broken. So, right now Brent Crude Oil on bearish direction. The support level are at 84.36, 82.22, 79.84 and 77.02. Meanwhile current resistance level are at 86.55, 87.34 and 91.85.
BRENT OIL TRADE IDEA (21-25 Aug)TRADE IDEA (21-25 Aug)
NEUTRAL (RANGE BOUND)
Target 1 hit last week
BEARISH Candle formed on Weekly timeframe
Price seems to be showing signs of exhaustion
would consider a SHORT on a close and hold below
4H BOS
UPSIDE
A break and hold above 4H BOS
level could target the 88.00 level
Double top formed on Brent 1H As you can see a double top formed on a 1h confirmed on 15m and 5m TF price did not come back to retest so we look for shorts TP @ support level
Brent oil is having a tough time.For 40 weeks now, Brent quotes cannot or do not want to leave the corridor between the levels of 70.83-86.32. And it looks like now the decline is possible to the lower limit. The nearest level that can provide resistance now is 84.40. I propose to pay attention to it, and after the breakdown, it is very likely that we will get the opportunity to open a sale.
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DeGRAM | UKOIL bearish pressureUKOIL dropped from the resistance at 88.00 and 87.00, which is a psychological level as well.
Price made lower lows and lower closes.
If the market retraces back to the resistance level at 86.00
We anticipate a pullback and bearish move since the market has dropped from this level before.
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Brent Oil to move lowerLast weeks Weekly Doji Candle close was a sign that that market was turning from Bullish to Bearish. The market has since broken down from its 7 week Bull run.
Chinas economic news of its possible recession will send Brent lower.
I'll be looking to open a short position.
At the moment I'm just waiting patiently to see what happens.
I'll post updates here as things move along.
double bottom on brentAs you can see a double bottom formed on a 1h timeframe , pattern confirmed on a 4h as well. Wait price to break above Neckline for a confirmed buy
The forecast came true.Yesterday's forecast for a decline in oil prices came true. After the breakdown of the support level, the quotes went down, but did not reach the target. Nevertheless, I believe that the forecast can be considered successful in view of the presence of a clear opportunity to close the deal with a profit.
Brent technical profile.Oil seems to be stuck in the corridor. At the moment, support is the level of 84.40. After the breakdown of this level, there is a possibility of quotes dropping to 83.40.
Brent Oil Analysisbe ready for getting a great short .
because of this heavy resistance .
make sure than you are ok with position risks and risk management.
Brent crude bullish pullbackIf the support on the 200-day MA and 50-day MA levels of $81 and $80 holds its ground, I expect brent crude to test the 38.2% Fibo retracement level of $93.50 pb.
Brent 78$ then 105$In my view Brent is forming a reverse H&S pattern right shoulder that could reverse @ 77-78$ area (less likely 74$ area) , my final tp is around 105$ in december
BRENT CRUDE OILBULLISH (with caution)
DOJI Candle formed on Weekly timefrme
Price seems to be showing signs of exhaustion
would consider a SHORT on a close and hold below
4H BOS and ascending trindline.
UPSIDE
A break and hold above 4H BOS and the 88.00
level could target the 92.00 level
