Brent is hovering above down trend line .
ROC is hovering near 0 line. SL of 74 not triggered on closing g basis. So if profit not booked can stay long with SL 74.
Brent Crude is dependent on international news. Any negative news can trigger SL.
Place SL trigger order before only so if Brent comes down immediately you will not run in hefty loss. Book profit if...
As expected brent had broken the trend line on up side. Divergence notice on time helped to know the trend ROC is above 0 line. 1st target on its way 0f 77.5$
ROC has shown divergence to price and is doing well in favour of bulls .Today If down trend line is broken then first target should.be 78 and then 81 . SL is 73 now . Long was initiated at 74.5 ROC is also moving above 0 and is excelrating.
1. ROC is showing divergence against price.
2. Since March Brent had not dropped below 70, only once its low was 67.
3 It had completed Triangle A and trading above base of triangle and now completing triangle B.
4 It had retraced to 0.318 and continously trading near it. So 0.618 retraced can be done
5 Conclusion buy wiSL 70 and targt 81which is 0.618...
Hey guys ukoil has been in a consolidation, for some weeks but now i can see price breaking 77.06. once that happen we shall go all the way to 80.000 and 85.000
This is a small video on how to calculate the target in the head and shoulder pattern which will allow us to place an alert using the tradingview tools. The tradingview tools make calculating the exact target based on the patterns a lot more easier. I hope this video helps the beginners, please note this is only for beginners and if you are already familiar with...
CRUDE OIL CHART on WEEKLY BASIS through Elliott wave & NEO wave
Impulse wave completed (5 wave /1 to 5). In this pattern 5th wave was longest wave
Now on present wave on corrective phase i.e. Advanced Elliott wave (Neo wave)
Upside move target 88. but if it break "ob" trend line thats only possible
Note: Crude falling means globally crises to be happed. Its not...
Usually not a good sign for stock markets in general if crude oil prices cool off..it often means growth is cooling off..esp at a time when OPEC is shrinking production.
Watch for this to be a lead indicator for global slowdown.
There could soon be news that the US starts building up the strategic reserves which they used when crude was above $120. If on this...
Crude about to test a crucial support.... Coming days, dollar + crude will decide broad nifty movement... If crude rebounds, a strong dollar, and rising crude might take nifty further down...
Expecting to create accumulation cycle and is going to break up to weekly distribution trend
on the bottom side weekly trend was hit and held. Long term daily downtrend is distributing. Now weekly uptrend is held and trying to create long term accumulation cycle. Long term target might be 91. But we might once again retest 77 price level which 85 level can hold...
TVC:UKOIL seems to have completed triple zigzag correction in wave 2.
Near to breaking out of Falling wedge. A Robust Rally in Wave 3 of Bull Market which can take it abv $300 in next 2 years.
Bullish OIL is Bullish for stock market.
- Brent Crude is following
Downward channel and
heading towards 64 - 65.
- Major Support at 64 - 65
- Major Resistance at 87
These are my personal views and are for educational & papertreading purpose only. please consult your financial advisor before investing.
Looks like crude oil is in complex correction which has crossed 100% extension and might touch 1.27 (78$) or 1.382 (74$) level
It is also trying to take support at 79-78 level which is 0.786 retracement level from recent low-high below that can touch 78 or 74 level in coming days...
It might also take support on long trendline 75$
If sharp move from 74 level...
With US marketss falling and Crude falling in tandem..its not a good sign for the economy..
It could be a lead indicator for weakness in the markets..
Watch for stoplosses if this continues to melt down further.
If your trading oil..short at current prices with stoploss above 83.50.
