Brent Crude can test USD 118Brent Crude can test USD 118 per barrel in the medium term to long term perspective and at the maximum resistance is seen at USD 183 per barrel.by madhusudhan_arjunUpdated 0
CoolOffCrude facing resistance near 124. Noticed #ThreeBlackCrows pattern near the resistance zone. If not taken out convincingly, then it has high probability of retracing till 113/106. Any trend continuation will happen after some cool off.Shortby TradersVenueUpdated 1
Monthly rising channel favors Brent oil buyers despite inactionBrent oil prices grind higher around late March tops, staying above 10-DMA inside a monthly bullish channel formation. Given the firmer RSI backing the black gold’s gradual north-run, the quote is likely to overcome the immediate hurdle, namely the late March swing high around $124.40. However, the stated channel’s upper line near $127.50, which if ignored could propel the energy benchmark towards the yearly high marked in March at around $140.50. During the run-up, then likely overbought RSI may interrupt the upside momentum around $130.00 and the $135.00 intermediate halts. Meanwhile, pullback moves may remain elusive until staying beyond the 10-DMA level surrounding $119.60. Following that, the support line of the bullish channel, close to $117.00 by the press time, will be crucial to watch. In a case where Brent oil sellers manage to conquer the $117.00 support and reject the bullish formation, there are multiple supports around $115.50 and $115.000 before directing the quote towards May’s low near $101.90. Overall, oil prices remain firmer inside a bullish chart pattern and are likely to rise further. However, the upside momentum will be shaky and hence needs the trader’s discretion.by MTradingGlobal0
Crude - Wedge breakoutToday with Saudi increasing prices to Asiam shipments for July crude could break out of the wedge once its markets open on Monday. If that happens crude could once again attempt to reach its recently made highs (where it could once again face a lot of resistance or one sided momentum). Watch this space as this migth decide the inflation going forward and how our markets move. by rdkriplani0
a short term pause before a trend formsCrude is retesting the breakout levels at higher end of previous range with 21 dema nearby that could act as short term support, RSI though declining is still above 50. likely trade :- put option writingby QuackStocks0
make or breakUKOIL is trading at higher end of range created breakout or rejection will have 7 $ move on either sideby QuackStocks0
Brent oil again approaches $116.00 key resistanceBrent oil prices managed to bounce off the crucial SMAs and 61.8% Fibonacci retracement of the late February to early March rally, despite posting meager weekly gains. Firmer RSI and the higher-low formation since April also keep the black gold on the bull’s radar. However, the upside bias needs validation from a two-month-old horizontal hurdle surrounding $116.00. Should the UK energy benchmark rally past $116.00, it becomes capable of crossing the $120.00 threshold, which in turn makes it eligible to challenge the late March high near $124.50. In a case where the commodity prices manage to stay firmer past $124.50, the yearly peak of $135.35 will gain the market’s attention. On the contrary, pullback moves remain elusive unless staying beyond an area comprising the 50-DMA and the 20-DMA, around $109.00. If at all the quote drop below $109.00, the $100.00 psychological magnet, also including the 78.6% Fibonacci retracement, should be on the bear’s hit list. It’s worth noting that April’s low of around $99.30 is the last defense for the Brent oil buyers, a break of which will make it vulnerable to revisiting February lows surrounding $90.00. Overall, Brent oil prices are ready to rise but the bulls need to cross the $116.00 barrier.by MTradingGlobal0
Crude oil may rally soon.Crude oil may rally soon . Getting out of triangle soon. No advice to buy or sell .Longby Elliott_Wave_Projection221
Brent oil buyers seem running out of steamAlthough a fortnight old rising channel portrays the bull’s command over Brent oil, backed by the fears of a supply crunch, the commodity prices have failed to portray a notable run-up. On top of that, the quote is heading towards a short-term key hurdle surrounding $115.70, comprising a horizontal line from late March and the upper-end of the mentioned channel. That being said, the RSI line also approaches overbought territory, which in turn poses the risk of a pullback move. Even if the energy benchmark rally beyond $115.70, multiple hurdles around $119.00, comprising the 78.6% Fibonacci retracement of March 26 to early April fall, as well as the $120.00 threshold could test the buyers. Meanwhile, the 200-SMA and the support line of the aforementioned channel, respectively near $109.70 and $107.30, put a floor under the short-term downside of Brent oil. It’s worth noting, however, that a clear break of the $107.30 will defy the bullish chart pattern, namely the rising channel, which may direct the bears toward $104.00 and $100.30 before highlighting the $100.00 psychological magnet.Shortby MTradingGlobal0
💡Brent Crude Oil - Weekly technical analysis update Midterm forecast: While the price is above the support 95.108, resumption of uptrend is expected. We make sure when the resistance at 131.000 breaks. If the support at 95.108 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low. While the RSI resistance #2 at 62 is not broken, the probability of price increase would be too low. A trough is formed in daily chart at 99.245 on 04/25/2022, so more gains to resistance(s) 119.964 and maximum to Major Resistance (131.000) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 59. Supports and Resistances: 131.000 119.964 110.926 95.108 85.714 75.000 64.647 50.000 36.546 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️Oby ForecastCity_ME449
BREAKOUT Possible In This WeekCrudeOil trend is up, with Target 130 & 160. The Red Lines In The Graph.by Trader_NishantK0
UK Brent Oil. Looks Bearish In Short Term.TVC:UKOIL UK Brent Oil can retest or break 102$ per barrel in short term. Ukraine And Russian Crisis cool off can make oil cheaper. Trade on your own risk and analysis. Shortby About_Bazaar1
Crude TargetCrudeOil Took Support At Green Line. CrudeOil uptrend continues. 📈🐂 Red lines are the possible targets for this uptrend.by Trader_NishantK1
Crude Should Fall and come back to 90$ and 100$ per barrelCrude after testing all time high should cool off a little and find a support between 90$ to 100$ per barrel. Weakly charts shows selling pressure. Moreever Russia Ukraine Tension are also easing.by About_Bazaar0
Crude TargetCrude oil is in uptrend. Crude oil has broken the channel on upside. Target around 150. Stop/Support 122. by Trader_NishantK0
Brent is ready for Ultimate breakout !!!!As stated 3 weeks earlier I had given a target of 110 on Brent when it was trading around 94.And, my target achieved 🎯🎯 Then again 1 week earlier when my target of 110 achieved, I stated that Brent could soon see levels of 120. And, my target achieved 🎯🎯 And now, if Brent gives breakout above 141.5 then it could rally above our estimates, which is probably possible.Longby Chaser30222
BRENT rally could continue !!!!Earlier at levels of 94, I suggested that there is breakout above 87.5 and brent could soon show the levels of 110 and by target achieved this morning. You can check that idea below. Now, I suggest to do partial profit booking and hold for target of 115. I think brent could face resistance between 110-115 zone.by Chaser30Updated 2
Crude Oil "5" wave is under formationCrude Oil "5" wave is under formation. This is for education purpose only.Longby kmurali1650
Channel BreakoutCrude oil has channel breakout. Strong uptrend. Target upper trendline around 130.by Trader_NishantK0
💡Don't miss the great sell opportunity in Brent Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (93.01). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . Brent is in a downtrend, and the continuation of the downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 51 Take Profits: TP1= @ 89.30 TP2= @ 87.44 TP3= @ 84.79 TP4= @ 82.68 TP5= @ 80.13 SL: Break Above R2 ❤️ 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 / Crypto 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 ❤️ Shortby ForecastCity_ME226
Brent oil prices battle seven-month-old resistance, Russia eyedAmid escalating tensions concerning the Russian invasion of Ukraine, crude oil prices rally to a multi-month high. However, overbought RSI conditions recently triggered the quote’s pullback near an upward sloping trend line from July 2021. That said, a six-week-old support line near $92.00 precedes the 21-DMA surrounding the $90.00 psychological magnet restricts short-term declines of the black gold. Also putting a floor under the energy prices is the October 2021 peak near $86.70, a break of which will recall short-term Brent oil sellers. Meanwhile, the aforementioned resistance line near $96.00 precedes the $100.00 threshold to challenge Brent oil bulls. Should the quote remains firmer past $100.00, lows marked during November 2013 and April 2014, respectively around $103 and $104.00 should flash on the buyer’s radar. It’s worth noting that the commodity’s upside past $104.00 will be hindered by multiple resistances marked during July 2014 near $108-109. Overall, geopolitical risks keep energy prices higher but the key resistance line triggered recent profit-booking. by MTradingGlobal0
Great sell opportunity in XBRUSDHello guys once again we are back with our idea to give you a good short term profit. Wait for the rejection from the trend line and than you can place your fresh sell orders for XBRUSD. Sell XBRUSD @92-95 SL:-100 TP 1) 90 2) 88 3) 85 4) 83 5) 80 & Last jackpot tp is 75 safe traders can exit the position as soon as the target Hits. Note:- before investing do your own research & invest only that which you can afford to lose.Shortby forexmaster7867
BRENT rally could continue !!!!Brent could keep rising above 97.58 a monthly breakout level, it crossed the congestion zone in past month around 87.4 which show that it could rally towards 97.5 above which could see levels of 110+by Chaser302