Although supply crunch talks trigger Brent oil’s bounce off a two-month low the previous day, the black gold remains pressured towards re-testing the 100-day EMA level amid US push for more output and fresh covid woes from Eurozone. It should be noted, however, that the quote’s weakness past $77.85, comprising the stated EMA, won’t hesitate to challenge the 50%...
A two-month-old support line break joins the failures to keep rebound from 20-DMA to favor Brent oil sellers. However, a clear downside break of the $84.00, comprising the immediate moving average support, becomes necessary. Following that, a fall towards $80.00 becomes imminent. Should the oil sellers keep reins past $80.00, the mid-September high near $76.40...
Crude Oil is running in channel since septmber, we many time initiated purchases near support lines but avoided short selling as Crude is in Bull cycle. We suggested you to buy near 6200 on 22nd Oct for a target of Rs 6500 which you may see tomorrow. In a few days crude may give another signal either for long or short position. We may soon see a trend reversal...
Yea yea, I know Oil is most manipulated commodity on the planet. But amidst the super consolidation worldwide, the most suppressed commodity is oil, and the hurricane supply chain destruction will annihilate the supply. We should see sharp rise in Brent Oil futures in coming days. It’s inevitable. I have given a range of targets from moderate to aggressive....
Brent oil prices jump to a one-week top while crossing a downward sloping trend line from July 06. In addition to the trend line breakout, the bullish MACD signals also favor the oil buyers targeting late July tops near $76.50. However, overbought RSI conditions challenge the quote’s upside momentum, if not then the yearly peak of $77.90, marked in July, will be...
#OIL daily bearish momentum and trend.sideways on weekly and probably trendline channel bottom supoort?
Escalating covid woes weigh on commodities while downbeat China data exerts additional pressure on the Brent oil prices during early Monday. Also favoring the oil sellers could be the quote’s U-turn from 50% Fibonacci retracement of early August upside, followed by a break of the one-week-old rising trend line. Hence, the Brent oil prices are all set for further...
BRENT (Crude Oil):- 74.22 CMP, 80 to 90 zone (Multiple Resistance Zone) 1) Dow Theory (Downtrend Since 2008/2009) 2)Crude takes year to rise (But in pandemic its is rise too fast)
Hi guys i had find this 4h time frame setup plzz see
Hello Guys I had find this trade and done analysis double top on 1h Timeframe i hope i had added some value thank you so much if you like plzz follow like and comment
Brent oil holds onto a weekly uptrend despite the previous day’s pullback moves. The British oil benchmark keeps the upside break of double-tops marked in May amid bullish MACD. As a result, the commodity buyers should stay hopeful to refresh the multi-month top, marked the previous day around $71.50. However, the following run-up needs validation from $72.30...
MCX Crude oil can go down for a retracement value of 0.236 in the upcoming days. So, intraday traders can set the following targets to make some money: 4560 - 4500 - 4460 - 4400 But, if brent oil breaks $66.60 upside, then change your position for the following targets: 4800 - 4880+ Refer to the recently published NYMEX Brent Oil Futures article:
Here, I have used MA , RSI , VOL , & DMI to identify the next move of Brent Oil. According to those indicators, it seems bullish ahead. We may see the following targets soon: $68.8 - $69.8 - $71+ But, if brent crude oil breaks the hurdle ( $66.60 ) and shows a closing price below it, we will see a heavy downfall. Targets: $64.6 - $62.8 and below
Following its run-up to a fresh high since January 2020, Brent Oil wavers around $61.25 amid overbought RSI and sluggish markets. Given the fresh headlines suggesting US-China tension, coupled with the US stimulus gridlock, the commodity has reasons to look for a pullback. However, the yearly peak surrounding $60.26, followed by the $60.00 threshold, can test the...
Despite breaking an ascending trend line from early November, Brent oil remains beyond 21-day SMA. However, a clear break beyond the previous support line, now resistance, around $51.30 becomes necessary to renew optimism. Following that, $52.50 and the recent high close to $53.30 can lure energy buyers ahead of making them confront February lows near $53.65. It...
The corrective upmove should be at its last legs. We should now look for weakness and enter short. A move to under $30 is in the pipeline. The subwaves on the minute chat also indicate a 1-2, 1-2 pattern which should now accelerate if the days high is not taken
Hello colleagues. Double top pattern for oil. If price will break through the nearest resistance zone by Wednesday next week, then the target for oil is 36. but I advise using trailing stop loss as oil goes oversold and the countries of OPEC may announce additional cuts to normalize the situation. Fundamentally the previous growth was associated with hurricane...
Midterm forecast: . While the price is below the resistance 46.50, beginning of downtrend is expected. . We make sure when the support at 40.00 breaks. . If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08...