UKBRENT trade ideas
UKOILBig risk and I do not advise it. This is something I have been watching from a distance for months, so no I want to try what I have been figuring out with OIL.
I'm only posting because I need it for records and learning material for myself in-case this goes sideways, even when you look the RR is very bad but this is how far my strategy for oil has brought me.
UKOIL(BRENT)-06/19/2023Preferred direction: BUY
Comment: Closing the price above the local resistance 76.30 creates a potential movement for buyers towards 77.39. This will be another major buying hurdle as it is medium term resistance. Given the context of the price movement towards this resistance, there is a very high probability of a breakout to the upside. Perhaps this will not be the biggest upward impulse, however, the approach to the round value of 80 will most likely be provided.
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DeGRAM | UKOIL potential double top at the resistance levelUKOIL was rejected at resistance at 77.00 before.
The price is printing potential for a double-top.
The oil market is consolidating on the 4H chart.
We anticipate further consolidation and a bounce off the resistance level.
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OIL_BRENT- longIf the retest holds and the price bounces off the former resistance level, I may consider this as an opportunity to go long (buy) with the expectation that the price will continue to rise. However, it's essential to combine price action analysis with other technical indicators or fundamental analysis to increase the probability of making successful trading decisions.
Oil (Brent Crude) / Gold (1w, Heikin-Ashi) - little macroeconomyDear Everyone,
Now little macroeconomy. We have almost exact 1 year, when Brent Crude Oil peaked in relation to Gold.
That in my oppinion suggest as main source of inflation was the cost of energy, not the money supply.
With best regards,
Paweł