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UKOILSPOT trade ideas

The Price of Brent Oil Reaches the Level of ResistanceSince the beginning of the month, the price of Brent crude oil has risen by about 10% — this July could be the best month since June 2022. Yesterday, the price of Brent exceeded USD 82, for the first time since April. Among the drivers of oil price growth may be: → production cuts by Saudi Arabia; → restriction of export from the Russian Federation; → expectations of new measures to stimulate the Chinese economy; → summer growth in demand for gasoline and aviation fuel in the US. However, technical analysis tools give arguments to suggest that the July rally may slow down, as: → the price of Brent oil on the daily chart has reached the moving average with a period of 100, which may attract traders to open short positions; → the price of Brent oil has reached the upper limit of the channel (shown in red). The effect of these two factors of resistance may appear as early as tomorrow at 17:30 GMT+3, when the weekly data on oil inventories in the US will be published. 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 Ping PongNo trading advice here, I am just presenting a bold and daring unconventional method. Looking for Heiken Ashi reversals at the shapes, or continuation in case of indecision, consolidation, rebounds etc. Follow the Heiken Ashi Candles for entry points. After a green wave, a red candle might appear at a shape, or the other way around. Position should be managed with stop loss trailing the highs or the lows of the Heiken Ashi candles. This is a swing trading approach that can be better suited with a hedging account, in case an opposite signal arises and the initial position hasn't stopped out yet. This way the initial position rides the wave for as long as it takes. If this sounds too crazy to trade on, you can look at it as an experiment, just like my other ideas with unconventional shapes, where interesting coincidences and rebounds have happened where the price met the drawings.
FX:UKOIL
by nen
POTENTIAL SHORT TRADE SET UP FOR UK OILAsset: UK OIL Analysis: Chart Patterns + Highs & Lows + Impulses & Corrections Directional Bias: Short Entry: Continuation Corrective Structure after the breakout. ⚠️ Do your research and apply proper risk management as nothing is guaranteed in forex trading. As we have often said, this is a high risk venture and past performance is not indicative of future results. Trade Responsibly! #TheTradingAmbience 🙏🏽🙇🏽‍♀️
FX:UKOILSPOTShort
by TheTradingAmbience
Oil Indicates Bearish Trend as EMA 50 Crosses Fibonacci .618Recent technical analysis has revealed a bearish signal as the Exponential Moving Average (EMA) 50 has crossed the Fibonacci .618 level, indicating a potential downward trend in oil prices. Technical indicators serve as valuable tools to assess market movements and make informed investment decisions. The EMA 50, in particular, is widely recognized for its ability to provide insights into medium-term trends. When it intersects with significant Fibonacci levels, such as .618, it often signals a shift in market sentiment. Given the current scenario, it is crucial to exercise prudence and consider the implications of this signal. While it does not guarantee a definitive outcome, it is a noteworthy indication that suggests a potential downward pressure on oil prices. Consequently, we should reevaluate our investment strategies and exercise caution before making further commitments in the oil market. Given this information, I encourage you to hold on to your existing oil positions and refrain from further investing until we witness more precise market signals. It is essential to closely monitor the market and observe the subsequent price action to understand the potential trend direction better. As always, it is essential to remember that market conditions can change rapidly, and it is crucial to remain vigilant and adaptable. I recommend staying updated with the latest market news and conducting thorough research before making investment decisions. Please comment with me if you have any questions or require further clarification. I am here to assist you and provide additional insights to help you navigate these uncertain times.
OANDA:BCOUSD
by bryandowningqln
Strifor || UKOIL-07/19/2023Preferred direction: BUY Comment: The medium-term and long-term picture of oil looks most likely in favor of the seller. To be completely sure of sales, it is necessary to wait for the price to close below the level of 77.39. The short-term picture is quite unusual, and most likely today-tomorrow will be in favor of the buyer. The level of 80.59 suggests itself for a test, and perhaps further buyers will be able to reach the local maximum at the level of 81.7. Thank you for like and share your views!
TVC:UKOILLong
by Viktor_strifor_analyst
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