Brent Crude Oil

OANDA

:

BCOUSD

Head & Shoulder Pattern observed.

The stock would probably hit the channel bottom and the go for a long move toward the resistance or might even continue falling if the channel is broken

Brent Crude Oil may test $78.5

Hi Guys, As you can clearly see in the chart, Brent is entering into the resistance area and also retraced 61.8 percent. it might fall from here after consolidating for some time. wait till it comes out from the area and short when it comes back to retest. good Risk reward from here in the downside. Not a financial advice.

follow the mentioned level

Buy CrudeOil at 67.7 Stoploss 67.38 Targe 68.25 69.4

After the FALL the recovery rally halted at exact 61.8 % retracement OVERBROUGHT Indicator and Strong Resistance line supports our Analysis

Sell CrudeOil 64.32 Stoploss 64.78 Target 63.7

Sell Crude at 66.6 SL 66.95 Target 66 65.35

Buy CrudeOil at 65.48 SL 65.25 Target 65.95

Sell CrudeOil at 65.64 SL 65.82 Target 65.3 65.2

Sell Crude at 65.9 SL 66.42 Target 64.8

Buy Crude oil on dips around 64. positional targets are 70 and 78.6

Crude was in a range for quite some time but it has given a breakout now. Buy on a retest of 63.85 levels with a target of 66.65

Sell BRENT at 63.1 with a hourly closing SL above 63.55 target 62.4 62.1

Buy at 60.70 Tg 63.73/64.33

50.5 TO 47.5 A STRONG RELIEF ZONE FOR BULLS HOWEVER , OVERALL TREND IS BEARISH AND WEEKLY SUPPLY ZONE IS THE BEST PLACE TO GO SHORT

as 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.