BearishAs was told, Crude has beein going down being at 59.50 presently. I has hoped the at the support will be at 59. But looking at the way the descending angle has been breached, I hope it may not stop at 59.05 and we may see some more down move.by sabyasachi_nath4
Focus on Brent;need to close below last week’s low to add shortsBrent oil log sixth straight weekly loss, the fall last extended for eight straight weeks between June-August 2015. www.keytomarkets.com Chart : twitter.com Oil bears need to close below last week’s low to add more shorts. In this case, Brent may have legs to extend correction towards 63.50$ below here the focus shifts to 61.50$-60.00$. However, the limited daily volatility and the bullish turnaround of the daily oscillator should limit the downfall in the coming days. Also note that the price manages to hold the 31-month ascending trendline, so far. The resistance stands at 68.50$ and 70.00-70.50$. Overall, today the price likely to consolidate between 70.00$-65.00$. After a relentless selling pressure finally, the landslide paused last week. Expectations of OPEC’s supply cut and oversold indicators stop us to forecast further bearish views on an intraday basis. For a trading purpose, a move above 68.50$ needed to rally further to 69.00$ and 69.20$, in extreme case 70.00$ is also achievable. The flip side, intraday support finds at 66.30$ and 65.70$ below here 64.80$ exists.by KeytoMarkets0
Brent: Price going down down and down-repeat as neededBreak down the 2y7m ascending channel- focus shifts further down to 200MA www.keytomarkets.comby KeytoMarketsUpdated 0
go long | strong recommendationas we can see a strong support zone is already hit ,surely will be a correction. oil companies can have negative impact on oil price rise.Longby harshit7770
Brent: Trend can still be considered neutral/limited downsideBrent oil prices are down by more than 13.00% from October high’s and lost all the key MAs. Selling pressure remains very strong; a descending channel is still evident in the daily chart. However, turning to the daily indicator, RSI study reached an oversold level; currently sits at 30.0 and the oscillator is trying to form a base sooner. Technically speaking, the price action closed below 200MAs but manage to hold the 50MA (Weekly). Under these factors, any further correction could shift the focus to the next immediate support at 70.00$ levels. We remain to stick to the other week’s forecast “Brent crude oil topped 87.00$. That’s going to be the flash news/headline when it closes below 77.00$.” The near-term risk surrounding the Crude oil trend can still be considered neutral/limited downside risk. At the same time, support at the mid-August low 70.50$ remains noticeable. We believe it could consolidate between 70.00$-80.50$ for some days/weeks. Turning to the positioning, bullish bets cut crude in the latest week. Hedge funds and other money managers cut their bullish wagers on crude in the latest week to a one-year low, the fifth consecutive cut during a month when prices posted their most significant drop since July 2016, data showed on Friday, Reuters reportedby KeytoMarkets0
Brent Crude Though Brent has come down in last 3 days, still its in uptrend. If this uptrend sustains in coming week, possible upside target is $83-85Educationby ArvindSavant0
LONG_Brent Crude 82.5-83 Levels & MCX 5300 levelLONG_Brent Crude 82.5-83 Levels & MCX 5300 levelLongby Nifty_Club_India0
still Rudebad Sign, as brent took support right there where it was supposed to but i didnt want it to !!! this can again set the crude to go and we all know its consequences. lets see how it spans out next week. Educationby Soulblighter0
Brent: Marching to 94.3 levelsFX_IDC:USDBRO formed an inverse H&S Pattern, which is a bullish pattern, and the expected target is $94.3/bbl. Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.Longby Nikita_Poojary0
Crude was Rude !!waiting to see how it behaves around 88-92 !! thats when i think (hope) it might cool off !!! wait and watchby Soulblighter0
BRENT CRUDE MONTHLY CHART CONSIDERING ENTIRE SWING NEXT RESISTANCE COMES AT 94.77Longby nifty50striker0
Doller Rupee: ObservationMultiple SUPPORT $78.59 - $78.49. In Last Candle Bounced from $ 78.59 In 2nd Last Candle Bounced from $ 78.49 Closed Below Drag to $77.51, $ 76.92-Educationby DSKF163
Inverted HnS on crudeAnother analysis shows Inverted HnS on Weekly charts of Brent. Target is the length from Head to neckline ,which suggests target $91.50 My previous analysis suggests rounding pattern on daily charts whose target is also near this zone.. So charts say that we ll see crude at 90/91.5 in upcoming days,..Educationby sirlaxmanagarwal113
Inverted HnS/Rounding PatternWhatever it is,it's bad for oil importing countries.. $80.5 is the level to watch out for..Educationby sirlaxmanagarwal2