UK Oil Daily AnalysisPrices move because of supply and demand. When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium.
XBRUSD trade ideas
Ukoil sell model Ukoil is approaching the retail retest and also the poi for more down side after their liquidity has been taken for down continuation
DeGRAM | UKOIL channel breakingUKOIL rebounded from the resistance and pulled back on the 4-hourly chart.
The market is trading in the descending channel, but this is just a pullback against the bullish trend.
We anticipate the continuation of this current trend and the breakout of the channel.
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UK-BRENT-OIL BRENT OIL
to be bearish should stable under 82.71 then will reach 80.52
to confirm the bearish trend should break 82.71
and stabilizing above 86.04 will be bullish to reach 91.43
Pivot Price: 83.50
Resistance Price: 85.17 & 87.70 & 91.43
support price: 82.70 & 80.52 & 77.81
Brent oil will move between 86.04 and 80.52
Brent - decline on pause.Oil sellers are not yet able to push through the existing support zone so that the daily candle closes below the existing lows. Much more important for traders is that these attempts to decline can stretch for a very long time and eventually end with a rebound and then a local increase to the resistance level. And if that happens. then all the cards will be shuffled again, and we will have to deal with a new hand, new trump cards on a new table. Let me remind you that the key resistance for Brent oil prices is in the area of 87.
Brent - technical levels. Continuation.Yesterday I published an idea in which I showed the current levels for Brent oil. Today it is clear that the support level has been passed. The level can be considered broken if today's daily candle closes below the August 3 low. If this does not happen, then we will wait for the next daily candle to close below today's one. It is then that we can expect a further decline in quotations. Let me remind you - I believe that oil quotes are in the global corridor. And if we talk about the next decline in prices for black gold, then a fall should be expected to the level of 72.40.
Usoil we can buy herHarmonic equilibrium routing
Wecan buy here .This is a reversal area and can break the last high
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.
Live Trading Session 234: Potential Trades on GBP,Brent & moreIn this live trading session video,we look at potential trades setting up for the week on GBPUSD,S&P 500,Brent Oil,Bitcoin and many more.
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
