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Brent

Crude | Inventory levels driving the Price -Watch EIA data todayOn the back of Crude inventories data released by American Petroleum Institute(API), according to which inventories fell less than expected, the commodity declined sharply citing lower demand. For further confirmation of the same one can watch crude inventories data about to be released by US government's Energy Information Administration (EIA) at 20:00 Hrs IST. Since the expectation is already set on a lower than expected fall in inventory, possibility of further fall in price is minimal as the information is already priced in, unless the data is unexpectedly skewed. Technically, price drop has dragged Brent to the lower end of the Rising channel pattern and as we could observe, it still holds valid. Evaluating previous price movements we could detect a demand area around 63.60. Besides notice that 64.70 is also an influential level to which the price could react. Interestingly, the range i.e. 63.60-64.70 is also defined by 38% and 50% of Fibonacci levels thus making the space an essential level to be broken for a decisive trend. Summing up, assuming that EIA does not throw any surprise Brent could undergo a short period of consolidation between the above mentioned range. Subsequent trend will be established in the direction of the breakout. Trade Plan: 1. Until either of 63.60 or 64.70 is breached, Sell @ 64.70 and Buy @ 63.60 (typical range trading) 2. A close above 64.70: Buy with stop below 63.50 with targets @ 65.70, 66.70 and 67.40 (trail stop loss as we traverse through these levels) 3. A close below 63.60: Short with stop above 65 with targets @ 62.50 and 60 (trail stop loss as we traverse through these levels) (Note: Expect higher volatility when EIA releases the data at 20:00 Hrs IST. Similar level of fall as per API is not expected to have an impact on price; a comparatively lower drop in inventories could weaken Crude further and alternatively, a comparatively higher drop in inventories will lead Crude to higher levels erasing its losses) (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
TVC:UKOIL
by AkhilSuryaFS
Brent Crude | Important levels at 63.60 & 62.30Brent Crude has taken support from a rising trendline. We could also see a "Morning Star" candlestick pattern adding to bullish bias. But 63.60 is an immediate resistance which will test the strength of Bulls. If price manages to break above 63.60, we can well expect crude to move towards 65.50. However, if the upward move gets arrested at 63.60 and manages to fall, immediate support will obviously be at 62.30. In any case if 62.30 is taken out we can expect the price to fall towards 60.40 levels. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
TVC:UKOIL
by AkhilSuryaFS
Brent oil analysis: back above 4H 200MABrent oil has retaken the 4H 200MA of $70.47, having bounced up from the confluence of the 50-day and 200-day MAs near $69.11. On the 4-hour chart, I see a falling wedge breakout. THe probability of a rise to $72.00 would rise if the 4H RSI breaks above 48.00. As of now, it is hovering at 45.68. Even if it rallies to $72.00, the outlook as per the daily chart would remain bearish with the 14-day RSI below 50.00 and 5- and 10-day MAs trending south. Further, the 50 and 100 4H MAs have produced bearish crossover. Also, the downward sloping 5-day MA is capping upside at press time. So, a rise to %72.00 looks unlikely. Trade strategy: sell on rise to $72 target $69 with stops above $73.00.
TVC:UKOIL
by OmiFX8
A great opportunity to sell in Brent Oil. don't miss it.Midterm forecast: Although current trend is uptrend but we forecast a downtrend wave would begin in Midterm. Technical analysis: There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains. Relative strength index (RSI) is 47. Trading suggestion: There is a possibility of temporary retracement to suggested Sell Zone (77.65 to 80.40). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (77.65) Ending of entry zone (80.40) Entry signal: Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak" , in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 75.40 TP2= @ 73.25 TP3= @ 71.30 TP4= @ 68.85 TP5= @ 66.65 TP6= @ 62.35 TP7= @ 58.15 TP8= Free
FX_IDC:USDBROShort
by ForecastCity