Oil moves in an ascending channel? Brent oil needs to conquer the resistance of 200EMA at 89.60 before we can talk about 90ish price. A bit hefty upside due to some bearish divergence seen across indicators. More likely to stay neutral in the range 81.51-89.60. Yeah it is a big volatile range. by winfredwuPublished 0
Brent - target 94 in wave (2) pbWave (2) in crude is taking shape of a wxy structure where only C of y is left. I count 1-2/1-2 from 23/02 low. I expect to see a strong move at least to 90, then pb in 4 to 88, then up again to 94 target in 5 of C.Longby VyazPublished 0
Brent Confirm the Weakness Brent Confirm the Weakness after Close Under 84.700 , We may trade now in wave C that target level 70.20 …. close above 86.50 cancel this idea Shortby EwaveUpdated 113
#Brent crude - an important inflection areaThis analysis is done on a monthly chart so this could still consolidate and take some time to play out but just a few interesting points to note: (1) the 200 month moving average (green line) has acted as a support and resistance level for the price of brent crude for the last decade and a bit (looks to be supporting price action currently) (2) the 61.8 fib from the extreme April '20 lows and March '22 highs come in at around $77.60 where the market recently bounced from (3) resistance monthly highs in October '18 and October '21 seem to be now acting as support (change of polarity). (4) RSI 50 level holding on the RSI (5) Price candle action (wicks) on the monthly chart over the last quarter shows that the bulls are ready to buy into any weakness during the month (6) Not shown on the chart but if you look at the daily chart we are forming a flat top triangle which usually breaks to the upside which also has a target at roughly $100 Given the significance of this consolidation zone between 77 and 84 leads to a high probability that OIL will once again move higher after this consolidation phase is complete. Thus on a medium term view I would use any weakness in Brent crude to accumulate a position for higher levels with a medium target around the $100 mark If you look at seasonality data for Crude oil futures in the past, you can see it enjoys a favourable period from the end of February to around end of September. www.equityclock.com Longby MarcoOlevanoUpdated 1
BRENT Oil aims for a breakoutBRENT Oil is about to break through the 200-period MA. If so, we expect a strong upward momentum up to $86.00 per barrel. 🔼Trade: Buy BRENT 🎯TP: 85.0, 86.0. Longby ForexChampionsPublished 0
UkOIL BUY ideathe overall trend it up we expect price to reverse from this level to continue upwardsShortby Kagaayi_BryanPublished 0
UKOIL // Triangle pattern Resistance breakdown requiredAlthough there is a triangle formation on the chart, let's look for closures where I indicated with X.by aet61Published 1
Oil waiting for good news75 is a good support for brent oil price. new data from world economic is not enough strong to push oil price up. channels are depicted and waiting for a breakthrough.by Zamani_MehrzadPublished 1
easyMarkets Brent Oil Daily - Quick Technical OverviewBrent oil continues to trade between two trendlines, a short-term upside one taken from the low of December 9th and a downside line drawn from the high of July 28th. As long as the commodity remains between those two lines, we will stay neutral. If the downside line gets violated, we will start examining higher areas as potential targets, however, more buyers may join in if Brent oil jumps above the 89-dollar mark. Additionally, the commodity could also rise above the 200-day EMA, which also could be seen as a bullish indication. Alternatively, a break below the aforementioned upside line and an additional move below the 80.43 zone may attract more sellers into the game, possibly clearing the way to the 75.00 area. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party. by easyMarketsPublished 3
UK Brent Oil: Oil is Rising More...What's Next?UK Brent Oil: Oil is Rising More...What's Next? In this analysis, I am looking at the technical perspective of oil and a reference about what happened on the past. We need to look at history time after time. For more details, you can watch the video analysis! Thanks and good luck! 02:14by KlejdiCuniPublished 8825
Crude long-term viewI count crude as wave circle C of a larger wave 4 that started in 2008. So far it looks like wave 1 of circle C is complete and crude is papering for a bounce in wave 2 (somewhere to 95-100 zone). Overall target for the larger wave 4 is in the 20-25 range. We then should expect a sharp rally to 200 level into 2027-28.Shortby VyazPublished 0
UK BRENT short idea!!!! Hi traders, here's my idea concerning the UK BRENT. I found a sell opportunity where we can see a bearish order block aligned with the Quasimodo level. That's well-known as an MPL or Maximum Pain Level. We can clearly see a liquidity sweep just above the Quasimodo level. Any trade you take after this is your own responsibility. Set a proper money management. Trade safely and carefully. Shortby tiavinarakotonirinaPublished 1
DeGRAM | UKOIL trend continuationUKOIL broke through the support level. The price tested, broke, and closed below the major resistance level of $84.00. The oil market could retest the resistance and fibo 50% before dropping again. We anticipate a bearish continuation trade. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!Shortby DeGRAMPublished 5518
Brent Crude is ready for major moveOil has been in a large falling wedge for the last year or so. Over the past three months, it has started to show some strength, as it has not yet retested the support of the falling wedge, instead finding new support at a trading line. It is impressive how the price is respecting the lower trend and new support line. Oil is currently in a symmetrical triangle, which is near its end, and soon there will be no place for it to consolidate on this level, forcing a significant move up or down. It is currently below all major moving averages (MA), but the fact that the 8, 20, and 50-day MAs are all at the same level indicates an explosive move is imminent. The relative strength index (RSI) is neutral and behaves similarly to the price. The moving average convergence divergence (MACD) is coiling around the zero line, suggesting that the upcoming move will also be significant. Overall: Brent Crude found support around $80, and while it has not yet bounced, it is preparing for a major move in either direction. This presents a great trading opportunity as we do not need to be bullish or bearish to make money. There is no bias as the price can move in both directions, but breaking the current pattern will lead to a strong move. Considering we are currently in a bullish pattern, there is a slightly higher chance for Brent to break up. If it does, the first major resistance would be at the BigRed level, around 14% from here. If it breaks down, the support would be at the trend line from the falling wedge, which is also around 13-15% from this level. Overall, this presents an ideal opportunity for those trading based on patterns and edges.by Consistent_TradesPublished 0
Brent Crude Oil Monthly Log ChartSink or Swim time for crude oil! If you are looking much lower from here, then you are not considering the critical amount of support the price is currently sitting on. Trading is a game of probabilities. #inflation #recession #crudeoil #fintwitLongby BadchartsPublished 5
Analysis of 23-2GBPNZD : vandaag met winst afgesloten en nu weer een nieuwe sell trade op 1.92946 BCOUSD : een risico waard. Mooie uptrend. een buy uitgevoerd op 82.425. by ProbelegPublished 0
Brent Crude Oil’s Dead Cat Bouncing is too much! 23/Feb/23.It’s not that just UN are “pushing” “carbon free energies”. The “emerging or existing” Billionaire/Trillionaire capitalists are “investing” heavily on “clean energy”.. So any “logic” to let their “heavy big investment” “go to vein”?!Shortby SteveTanPublished 112
oil BrentWe are witnessing a correction in a channelized range that completed the -0.5 shark pattern in this range and we are exactly on the expected correction area of the above pattern, we are in the 50% Fibo area at 75.65 with a little flexibility in the above pattern at the intersection with the midline of the channel along with Two pivot point ranges at the prices of 64.15 and 71.28 can be expected to support the upward movement that can determine the role of the above reduction in dealing with the ceiling.OLongby maryammhPublished 1
aland strategyTechnical analysis formations and chart patterns are derived from price action.Shortby BahrozMalaPublished 0
DeGRAM | UKOIL confluence level for sellUKOIL rebounded from the bearish trendline on the 4H chart. Price action printed a double top, and it created the same pattern as before. The market pulled back on the larger scale of the bearish trend . We anticipate a trend continuation trade. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!Shortby DeGRAMPublished 121212
#Oil looks so #bearishOil is bearish and most likely will test $60-$65 range.by GreatMindsPublished 4
BCOUSD Potential for Bearish Drop to overlap supportLooking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for an immediate sell entry at 82.681, to ride the bearish momentum. Stop loss will be at 83.944, where the 38.2% Fibonacci line and overlap resistance is. Take profit will be at 79.072, where the previous swing low and overlap support is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group. Shortby VantageMarketsPublished 111