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BRN1! trade ideas

WEEKLY FOREX FORECAST AUG 12-16th: USD INDICES GOLD SILVER OILThis is Part 1 of the Weekly Forex Forecast AUG 12-16th. In this video, we will cover: S&P500 NASDAQ DOW GOLD SILVER US & UK OIL Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
NYMEX:BZ1!
by RT_Money
1
01/08/2024 Brent oil set up.Hello Traders, Yesterdays set up was not a success. Market ended up touching our stop. Here's today set up. High and lower structure for a buy position formed on the 15m. H1 chart gives a bias of a bullish market, 50 and 8 EMA crossover confirmed the bearish sentiment. 15m chart, Fib retracement drawn, wait for price to reach the wick candle above 76.8%, slightly above the FVG where liquidity has building, expect market to retrace further up to 100% on the Fib retracement tool where demand is built. •Enter market at 80.926 •Stop loss at 80.116 •Take profit at 82.494 •Risk 2 -5% •R:R is (1 : 2.4) No much change on Baker Hughes Rig Count on number of rigs in operation, demand was affected by crowdstrike last week when planes down, transportation is fine though Yemen has been on the news lately and strikes were noted, reaction from the Houthis on Oil tankers will be monitored for supply disruption. Oil cuts still in progress from OPEC, Nigerian government still playing dirty with Dangotes refinery, which will definitely have an impact in supply and demand for imported oil outside of Africa. Good luck!!
ICEEUR:BRN1!Long
by Mancoba
30/07/2024 Trade Idea + Price Update.Hello Traders, Yesterdays set up did not complete, hope you did no fail with patience to wait for a complete trade set up like. Kindly reset your orders. High and lower structure for a short position formed on the 15m. H1 chart gives a bias of a bearish market, 50 and 8 EMA crossover confirmed the bearish sentiment. 15m chart, Fib retracement drawn, wait for price to reach the wick candle above 76.8%, slightly above the FVG where liquidity has building, expect market to retrace further up to 100% on the Fib retracement tool where demand is built. •Enter market at 78.897 •Stop loss above at 79.348 •Take profit at 77.948 •Risk 2 -5% •R:R is (1 : 2.1) No much change on Baker Hughes Rig Count on number of rigs in operation, demand was affected by crowdstrike last week when planes down, transportation is fine though Yemen has been on the news lately and strikes were noted, reaction from the Houthis on Oil tankers will be monitored for supply disruption. Oil cuts still in progress from OPEC, Nigerian government still playing dirty with Dangotes refinery, which will definitely have an impact in supply and demand for imported oil outside of Africa. Good luck!!
ICEEUR:BRN1!Short
by Mancoba
29 July 2024 Oil Trade IdeaHigh and lower structure for a short position formed on the 15m. H1 chart gives a bias of a bearish market, 50 and 8 EMA crossover confirmed the bearish sentiment. 15m chart, Fib retracement drawn, wait for price to reach the wick candle above 76.8%, slightly above the FVG where liquidity has building, expect market to retrace further up to 100% on the Fib retracement tool where demand is built. •Enter market at 80.317 •Stop loss above at 81.021 •Take profit at 78.483. •Risk 2 -5% •R:R is (1 : 2.4) No much change on Baker Hughes Rig Count on number of rigs in operation, demand was affected by crowdstrike last week when planes down, transportation is fine though Yemen has been on the news lately and strikes were noted, reaction from the Houthis on Oil tankers will be monitored for supply disruption. Oil cuts still in progress from OPEC, Nigerian government still playing dirty with Dangotes refinery, which will definitely have an impact in supply and demand for imported oil outside of Africa.
ICEEUR:BRN1!Short
by Mancoba
The oil price may soon fall from today's USD 82.00 to USD 45.00Technical Analysis of the oil price (Brent Oil) Over the past three years, the oil price has established a large head and shoulder formation (cf. chart here), and where a strong technical sell signal will be triggered by a break below the USD 75.00 level. The oil price (Brent Oil) is also moving within a large symmetrical triangle consolidation formation, and the most common thing about such consolidation formations is a further development in the same direction as the previous development. Here for the oil price, this means that it is most likely now with an upcoming break down from this large symmetrical triangle consolidation formation that the oil price has moved within in the past year now. Both according to the aforementioned large head and shoulders formation, and the large symmetrical triangle consolidation formation. Yes, both of these formations indicate that in the event of a break below USD 80.00 and 75.00, a further decline towards USD 45.00 - 50.00 will be signalled. What is needed to change the currently very negative technical picture for the oil price will be for it to break through and establish itself above a now very important technical resistance level around USD 88.00 - 90.00. As the overall technical picture is today, a sharp drop in the oil price is indicated if it now breaks below a very important technical support level at USD 75.00 - 80.00. In the event of such a break down, strong technical sell signals will be triggered for the oil price, and then a further sharp decline will be signaled to around USD 45.00 - 50.00. It is therefore well worth keeping a close eye on the oil price going forward here, and new signals about future developments may come within a short time now.
RUS:BR1!Short
by StockCharts365
As we wait for the EIA report.The market as is just changed it's BIAS to bullish momentum on the higher time frame, H1 to be specific, we looking for buy area around $84.600/barrell of Brent where liquidity has been building up as priced moved higher since the bearish momentum we have been singing since Friday. Tp on the to of our previous HH structure and Stop just below $84.26 to give it more room to take lower orders before moving up . Of course uncertainty is built into the system, risk percentage on position size is 5% drawdown we putting in the table if we lose, but stand to gain a 12.5% gain if market moves in our favour. It's not about this Trade but the 10 next trades.
ICEEUR:BRN1!Long
by Mancoba
As we wait for the EIA report.The market as is just changed it's BIAS to bullish momentum on the higher time frame, H1 to be specific, we looking for buy area around $84.600/barrell of Brent where liquidity has been building up as priced moved higher since the bearish momentum we have been singing since Friday. Tp on the to of our previous HH structure and Stop just below $84.26 to give it more room to take lower orders before moving up . Of course uncertainty is built into the system, risk percentage on position size is 5% drawdown we putting in the table if we lose, but stand to gain a 12.5% gain if market moves in our favour. It's not about this Trade but the 10 next trades.
ICEEUR:BRN1!Long
by Mancoba
Brent oil(Elliott Wave)Hello friends Brent oil is completing its 5 out of 5 wave. Currently, waves 1, 2, 3 and 4 have been completed. Wave 1 of 5 and 2 of 5 have also been completed. Therefore, wave 3 out of 5, which always has the largest growth or changes compared to other waves, is being formed. If we want to create a trading stop, we can enter a trade buy at around $82 with stop loss 81.5 or if you are a little more cautious, stop loss 81.1 is suitable. The price target for Brent oil is $84.5. To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
ICEEUR:BRN1!Long
by M_Gheysvandi
🛢️ Oil Bearish possible retrace to 70 USD 🛢️🛢️ Oil Bearish possible retrace to 70 USD. 🛢️ The oil market has been experiencing a bearish trend, with prices potentially retracting to $70 USD. This downward movement can be attributed to a confluence of factors that are exerting pressure on oil prices. **Economic Headwinds and Oversupply Concerns** The global economic outlook remains uncertain, with key economies showing signs of slowing growth. This economic deceleration is reducing demand for oil, contributing to the bearish sentiment. Additionally, there is a potential oversupply in the market, as non-OPEC+ countries are expected to increase production, leading to a surplus that could drive prices down¹. **OPEC+ Policies and Market Stability** OPEC+ has been implementing production cuts to support market stability and prop up prices. However, these measures have had a limited effect on reversing the bearish trend. The extension of OPEC+ output cuts through the first quarter of 2024 has not significantly bolstered prices, which have continued to decline⁶. **Geopolitical Tensions and Price Support** While geopolitical tensions, particularly in the Middle East, have historically provided some support to oil prices, their impact is currently overshadowed by the dominant economic factors. The market has already priced in these tensions, and they are not enough to counteract the bearish forces at play⁴. **Technical Analysis and Price Predictions** Technical indicators suggest that the bearish trend is likely to continue unless a significant reversal occurs. The overall sentiment for US Oil remains bearish below the crucial level of $75.95, with forecasts anticipating testing lower support levels, particularly at $73.98⁵. Analysts predict tighter oil markets in the first half of 2024, with a looming surplus at the beginning of the year driven by seasonally weaker demand. However, the second half of the year may see the market return to a deficit, suggesting that prices could move higher in the latter part of 2024⁶. **Long-Term Outlook** Looking beyond the immediate bearish trend, the long-term outlook for oil prices is influenced by several factors, including efficiency standards, the expansion of the electric vehicle (EV) fleet, and the potential fall in demand for fossil fuels. These factors could lead to lower oil prices in the medium to long term. The Energy Information Administration (EIA) expects average Brent crude prices to be at $61/bbl in 2025 and $73/bbl in 2030⁶. **Conclusion** The bearish trend in oil prices, with a possible retraction to $70 USD, reflects the current state of the global oil market, characterized by economic headwinds, potential oversupply, and geopolitical tensions that have a limited impact on prices. While OPEC+ efforts to stabilize the market are ongoing, the effectiveness of these measures remains to be seen. Technical analysis supports the continuation of the bearish trend, with a potential shift in the second half of 2024. The long-term outlook suggests a gradual decrease in oil prices as the world shifts towards more sustainable energy sources and greater efficiency. Investors and market participants will need to closely monitor these developments to navigate the volatile oil market. 🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️ (1) Oil Prices Forecast: Bearish Outlook Prevails Despite Middle East .... www.fxempire.com (2) Oil Forecast and Price Predictions 2024, 2025-2030 - CAPEX.com. capex.com (3) Oil Market Report - March 2024 – Analysis - IEA. www.iea.org (4) Natural Gas and Oil Analysis: Market Trends Amidst OPEC+ Deliberations .... www.fxempire.com (5) . bing.com (6) Oil Market Report - January 2024 – Analysis - IEA. www.iea.org (7) Crude Oil - Price - Chart - Historical Data - News - TRADING ECONOMICS. tradingeconomics.com (8) undefined. www.economies.com
ICEEUR:BRN1!Short
by TheTraderrr
Brent Crude is showing major upside to come to $96.00Ascending Triangle has formed on Brent Crude. We saw the price continue to knock up the resistance until it broke above. Price>20 and Price>200 So the target is likely to hit $96.00 When the US Dollar depreciates, it often leads to a rally in Brent Crude prices for several interconnected reasons. 1. Commodity Pricing Global Benchmark: Brent Crude is a major global oil benchmark. Oil prices, including Brent Crude, are typically denominated in US dollars on international markets. So when the US Dollar weakens, oil becomes cheaper for holders of other currencies. This increased affordability can lead to higher demand, pushing prices up. 2. Investment Flows A weaker dollar drives investors towards commodities like oil as alternative investments, contributing to price rallies. 3. Economic Implications Dollar depreciation often signals global economic growth, boosting energy consumption and pushing up oil prices. 4. Inflation Expectations Oil is purchased as a hedge against inflation when the dollar weakens, raising demand and prices for Brent Crude. 5. Energy Sector Investments A depreciating dollar lowers operational costs in the energy sector outside the US, potentially tightening supply and elevating oil prices.
ICEEUR:BRN1!Long
by Timonrosso
A Sell on the Rise StrategyFrom a long-term perspective, Oil, in this case, we use the Brent Last Day Financial by NYMEX CME, overall is trending downward! It would be tempting to initiate a “sell on rise strategy” especially when a long term trend line (in blue) is challenged. The trend line majors the historical highs of Brent (BZ) as well as Crude (CL) since the second all-time-high (ATH) in March 2022. Diving deeper and a closer look to what's happening in 2024! Brent has been consolidating way too long already! Crude oil touched-and-go, the same immediate resistance, and marked a 4-month high before closing just below $87 per barrel. Meanwhile, from a short-term perspective, it coincides with a broad technical bullish consolidation within a channel formation (Orange lines). All recent higher-highs and higher-lows in 2024 have indicated an uptrend and the current bullish bias was well supported at triple bottom (Purple line) in the last couple of weeks. Ideally, Oil should consolidate within the wedge formation until a sustained clear breakout. Oil is trading in an overbought territory and reversal should be in cards! A suggested trade to bet on the stronger challenge downtrend would be to short at 87.50 level and an appropriate stop loss above an immediate significant resistance. Fundamentally still overbought am looking to break the congested trend channel downwards!
NYMEX:BZ1!Short
by phillip_nova
BRN - CRUDE OIL Short opportunity📉 Breaking News: BRN Crude Oil Faces Bearish Pressure Amidst Global Uncertainty Interest Rate Concerns: Federal Reserve Governor Christopher Waller’s recent comments hinting at delayed interest rate cuts have raised concerns about sluggish economic growth. As a result, oil demand is expected to be curbed, impacting BRN crude prices Pipeline Shortage in Canada: Canadian oil production is poised to hit a record high of 5.3 million barrels daily, straining the country’s pipeline network. This excess supply is contributing to the bearish sentiment. Remember, the oil market is as volatile as ever, and unexpected twists can sway prices in either direction. Keep an eye on the news and consider diversifying your portfolio to mitigate risks during these uncertain times. 🛢️💸 Disclaimer: This post is for informational purposes only and does not constitute financial advice. Always consult with a professional before making investment decisions.
ICEEUR:BRN1!Short
by TheTraderrr
NYMEX Brent: Building up Bearish BiasOil reversed gain quickly after the multifaceted sword chopped whatever little was left of supply-side momentum, keeping Oil prices afloat. The US labor market’s resilience pushed back hopes of potential “FED Monetary easing” until the second half of the year while the budding US banking crisis shook the ground beneath Oil prices. Technically, Brent tried to sustain an upside rally and breached the 200-day Moving Average of $83 per barrel in January. However, it came crashing down below the short-term upward trend line (black), as the “ceasefire talks” emerged in the Middle East. So does the end of the Geo-political crisis, mean the beginning of Oil’s turmoil? The optimism of investors has been shaken and it would be unrealistic to ignore the negative sentiment that is setting in. Short-term investors are advised to follow the “Sell on rise strategy”, whenever Brent tries to hover around 200-Day Moving Average. Currently, oil markets are valuing prices more on demand-side concerns rather than fears of conflict in the oil-rich Middle East. Brent is falling below the long-term triangle formation, and if the bearish trend continues, it could easily test the long-term support of $70-72 per barrel zone. A slight increase in banking stability threat could trigger massive offload in long positions. Unless OPEC+ comes to Oil’s rescue, price projections seem bleak. We prefer the below trade setup: - Entry: Short around 200 moving average at 83.50 - Target: 77.00 - Stop loss buy for short positions at 86.20
NYMEX:BZ1!Short
by phillip_nova
How to identify high quality Supply and Demand zonesSupply and demand zones are powerful tools to find high probability trades. If they are used in the correct context they offer a high win rate and a very controled risk. These are some of the characteristics that high quality zones have: •When a good zone is being created in real time you will watch that price pushes down/up with aggressive price action and follow through after the basing candle. Heavy volume on the development and candle closing at its highs are also good indicators. •A high quality supply/demand zone is the one that creates new lows/highs. That means that it was able to push below/above the prior low/high. •In short time frames, shorter than 1 hour, you would probably find good supply and demand zones to have a continuation of the trend. For example, if a Future is in an uptrend pay attention to the demands that are created in that trend and then when price pulls back to it look at the price action in the zone. Have in mind that in uptrends, demand zones are reliable and supply zones have a much lower probability of working. The opposite scenario happens in downtrends were supply zones are higher probability and demand zones should be avoided. •In higher time frames, a very strong supply or demand zone could be an area for a change of structure (from an uptrend to a downtrend for example). •A good indicator of a reliable supply/demand zone is when price pulls back to it and the candle has a strong rejection as it touches the zone, meaning an upper/lower wick is created below/above the zone. volume is developing with no follow through (orders hitting strong ask/bid in the tape) and the candle does not close inside the zone. •Speed heading into the zone is also relevant, a high speed drop heading in to a demand zone is a good area to trap late sellers. •If for example FX:EURUSD has a demand zone and TVC:DXY has a supply zone or a resistance level and both are having retracements from their trend, that could be a good opportunity to go long and also if price action gives an extra confirmation. This means that confluence is key for a high probability trade when using supply and demand zones. • Use the concept of relative strength/weakness when using confluence with other charts. Example: A 2 hour demand zone in Brent Futures $NYMEX:BZ1!. Notice how the red candle that reaches the zone is a strong one with higher volume and is not able to close inside the zone, It prints a lower wick and closes above it giving the demand zone a good price action confirmation.
NYMEX:BZ1!Education
by FTWTraders
Brent Oil Dips Below $73/Barrel on WednesdayBrent oil prices fell below $73 per barrel during early Wednesday trading, carrying the momentum of the previous session and increasing losses to more than 10% this month. The price of the barrel has been in decline, weighed on by worries over future demand. This sentiment was exacerbated by yesterday’s release of US inflation figures, which remained above the ideal levels and made it more likely for the Federal Reserve to keep interest rates higher for longer, with oil consumption likely to suffer as a consequence. Against this background, today’s Fed monetary policy decision may lead to further losses if the central bank insists on adopting a hawkish stance, talking down the chances of a rate cut within the next six months. Ricardo Evangelista – Senior Analyst, ActivTrades
BShort
by ActivTrades
1
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NYMEX:BF1!
by TradingView
28