Crude oil Bearish Set upCrude oil look bearish on higher time frame.
Good MArket Structure break on 1H,
Best set up to Sell
Crude Oil Brent
Crude (UK Oil)#Brent #UKOIL #Crude
Max to max again 86$ seen possible but If unable to sustain above 86$ then?
1: Interest rate hikes & Tappering in Bond buying will increase Dollar Values against every currency.
2: If unlimited given support by Central Bankers will not perform well then demand will reduce & supply will increase.
UKOIL SHORTAccording to my analysis UKOIL is SHORT. UKOIL take the resistance on Pitchfork upper line on 4H candle. 71.600 Works as support.
Brent Crude OilBrent crude oil has broken the trendline resistance and it looks like primary wave 5 has started, and within wave 5 , wave I and wave II are posiibly been completed and wave III should now unfold at $ 79.40 to $ 80.21, where wave III will be atleast equal to wave I, and on the down, the swing low of $ 70.89 will be now crucial support. one can go long at current levels or in dips (hopefully) with stoploss of $ 70.89
wave structure
key levels
macd in daily is positive, uptick and above zero line
rsi in daily is positive, uptick and also near 60
price tooked support from middle bollinger and now its above same
on weekly chart dmi is converging from negative to positive
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
Oil History - Based on Spread USOIL & UKOILOil History - Based on Spread USOIL & UKOIL
How the spread has reacted during difference phase of Geopolitics of oil life in last 2 decades.
CRUDE LOOKS POSITONAL TARGET 62-58$ CMP 68$Crude Looks Positional Target 62-58$
Cmp 68$
Short - below 65$ looks more weak.
UKOILBRENT (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)
usoil trade setup oil taking support in zone 57 58 continuous , heavy fall only after close below his , while 5 week rejection suggest a push move at higher areas
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 64.83 on 02/18/2021, so more losses to support(s) 58.65 and minimum to Major Support (54.40) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 66.
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CRUDECrude oil has given a fresh breakout after weeks of consolidation. This breakout could test $ 45, 48 & 51 (INR 3250, 3500 & 3800) provided it does not retrace beyond $41.30 (3070)
Crude oil Buy / Sell Based on Fibo and GannSell crude oil at 2754 stop loss 2782 Target 2676
Fibonacci and gann always rocks follow us support us and research with us
Crude oil Buy / Sell Based on Fibo and Gannbuy crudeoil at 2565 stop loss at 2549 Target 2628 / 2654
Fibonacci and GANN always rocks follow us support us and research with us
Crude near Triangle Breakout!!Just check How crude is near triangle breakout. Also check how scalping indicator is providing perfect buy sell signals!!
Latest Algo Update on Crudelearn how Algo performs so perfectly on Crude. This indicator will assist you in takig buy sell decisions in crude trading. Learn it over here...
Don't miss the great sell opportunity in BrentTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (42.80). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Brent is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 48.
Take Profits:
TP1= @ 39.70
TP2= @ 38.65
TP3= @ 37.10
TP4= @ 34.10
TP5= @ 32.30
SL: Break Above R3
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berger paint fundamentals and panic criss cross crude is down is fundamental positive
market panic is near term negative
