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BRENTOIL
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Brent Oil Futures

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BRENTOIL trade ideas

💡Brent Crude Oil - Weekly technical analysis update Midterm 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 trough is formed in daily chart at 54.40 on 02/01/2021, so more gains to resistance(s) 62.30, 66.05, 70.35 and more heights 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 73. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

by ForecastCity_ME

Brent oil bounces off 100-SMA inside short-term falling triangle Although coronavirus (COVID-19) strains probe the commodities off-late, Brent oil’s latest U-turn from 100-SMA favors the energy bulls. Also keeping the oil buyers hopeful is a short-term descending triangle formation on the four-hour chart. However, a falling trend line from last Wednesday around $55.70 can offer immediate resistance to the quote ahead of highlighting the triangle’s upper line. It should be noted that the commodity’s ability to defy the triangle with an upside break of $56.25 will not only challenge the monthly high of $57.37 but will also raise challenges for the $60.00 threshold and February top near $60.25. In a case, Brent oil drops below 100-SMA, at $54.70 now, triangle support of $54.40 and an ascending trend line from December 23, currently around $53.50, will add filters to the downside momentum. However, the oil bears’ reluctance to respect the $53.50 support will be tested by the $53.00 round-figure before highlighting the monthly low close to $50.00.

Long

by MTradingGlobal

Brent Crude OIL EW analysis on lower time frame Om Namah Shivay Trying brent crude oil EW analysis. The structure with EW in Crude OIL have own characteristics. The structure looks like an Impulse after previous impulse + abc structure. Possibly there is small correction or sideway on short term. In Crude, the 5 wave impulse that we counted now, is part of a bigger impulse wave. Previous impulses are very dynamic which suggests if this is going to be an impulse, then the long side ways are part of it. Om Namah Shivay

by sudhannayak

💡Brent Crude Oil - Weekly technical analysis update Midterm forecast: 52.45 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 57.25 on 01/13/2021, so more losses minimum to Major Support (52.45) 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 61. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

by ForecastCity_ME

Brent oil buyers can ignore short-term support break 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 should, however, be noted that the oil bulls will not refrain from challenging the $60.00 threshold in a case where the quote remains positive past-$53.65. Meanwhile, a daily closing below the 21-day SMA level of $50.48 needs validation from the $50.00 round-figure to recall the sellers targeting November tops near $49.00. Though, any further weakness below $49.00 can make the commodity vulnerable to retest August month’s high of $46.08. Overall, Brent oil remains in an uptrend but the covid woes are likely to test the bulls.

Long

by MTradingGlobal

Elliot wave Analysis # Bullish Sequence TVC:UKOIL

Long

by Dino_Naidu

long after the breakout..wait for the upside breakout...

by kakkar

short..short till profit target..

Short

by kakkar

💡Brent Crude Oil - Weekly technical analysis update Midterm forecast: 46.50 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 52.38 on 12/18/2020, so more losses to support(s) 48.95 and minimum to Major Support (46.50) 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 64. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

by ForecastCity_ME

💡Brent Crude Oil - Weekly technical analysis update Midterm forecast: 46.50 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 trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 54.40, 58.65, 62.30 and more heights 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 68. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

by ForecastCity_ME

Brent Crude Oil - Weekly technical analysis update Midterm forecast: 46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased. A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 48.95, 54.40, 58.65 and more heights 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 69. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

by ForecastCity_ME

Brent Crude Oil - Weekly technical analysis update Midterm forecast: While the price is below the resistance 46.50, beginning of downtrend is expected. We make sure when the support at 36.95 breaks. If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is formed in daily chart at 45.44 on 11/11/2020, so more losses to support(s) 41.70, 40.00 and minimum to Major Support (36.95) 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 54. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

Short

by ForecastCity_ME

The bearish AB=CD c model and the key bit The bearish AB=CD contains the upphase 1.618AB=CD model and the key bit, three-point resonance.

Short

by koubo

Updated

BRENT Short 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 Delta and rumors of increased demand for oil in China and India. But in fact, China bought at good prices in spring and summer and is full of oil. In Asia, flights are only local, international will open no earlier than March 2021. There are no preconditions for a sharp increase in demand. In addition to this news, I want to note the increase in covid diseases around the world.

Short

by THG_trader

Updated

Brent Crude Oil - Weekly technical analysis update Midterm forecast: 41.70 is a major resistance, while this level is not broken, the Midterm wave will be downtrend. We will close our open trades, if the Midterm level 41.70 is broken. Technical analysis: The RSI bounced from the resistance #1 at 55 and it prevented price from more gains. A peak is formed in daily chart at 43.65 on 10/15/2020, so more losses to support(s) 36.95, 33.80, 19.40 and more depths is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 32. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

Short

by ForecastCity_ME

Brent - Possible Breakdown With lockdowns imminent in a lot of Europe, we could have a repeat in a fall similar to April 2020. Watch for brent below 38.75 for a confirmation of the breakdown. First target 34. SL above 39.50

by rdkriplani

Brent Crude Oil - Weekly technical analysis update Midterm forecast: While the price is below the resistance 46.50, resumption of downtrend is expected. We make sure when the support at 38.90 breaks. If the resistance at 46.50 is broken, the short-term forecast -resumption of downtrend- will be invalid. Technical analysis: A trough is formed in daily chart at 38.90 on 10/02/2020, so more gains to resistance(s) 44.15 and maximum to Major Resistance (46.50) 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 53. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

Short

by ForecastCity_ME

Brent buy 42.66 Good for buy 42.50-42.66 I bought 42.66. Not the best price. Daily opens with gap ups and green overtake red On 4 hr breaking above ma On 15 min breaking above ma. Big Red bar. Resistance on that red bar overtaken by green right away, and then green rally with only one little red in the middle. Let’s see if green will keep pushing.

OLong

by Forexblade

Elliot wave Analysis TVC:UKOIL

by Dino_Naidu

Brent Crude Oil - Weekly technical analysis update Midterm forecast: 46.50 is a major resistance, while this level is not broken, the Midterm wave will be downtrend. Technical analysis: A peak is formed in daily chart at 44.15 on 09/18/2020, so more losses to support(s) 36.95, 33.80, 19.40 and more depths is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 34. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

Short

by ForecastCity_ME

1818

Brent Crude Oil - Weekly technical analysis update 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: A peak is formed in daily chart at 39.56 on 09/14/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) 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 52. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

Short

by ForecastCity_ME

Brent Crude Oil - Weekly technical analysis update 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 and the peak at 46.525 on 2020-08-26, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. . The RSI support #1 at 55 is broken, so the probability of beginning of downtrend is increased. . A peak is formed in daily chart at 46.50 on 08/25/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) is expected. . Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. . Relative strength index (RSI) is 35. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️

Short

by ForecastCity_ME

BCOUSD Long Hi! Only if we will see nice pin bar pattern. Weekly ATR had passed so looks nice to buy brent oil now buy "stop buy order" in dynamic. In 4 hour time frame idea not seems good but... why not?

Long

by THG_trader

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