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...
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.
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...
Amid 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...
Hello 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...
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+
Crude oil trading at highest levels in 7 years.
Multi year Resistance zone is now acting as support zone.
The Black gold is expected to test $115-120 levels in 4 to 6 moths time
Russia - UK tension to and demand pickup to be key drivers
originally published on 1st Feb after highest monthly close in 7 years
Close below 87 will nugget the view...
Description : Crude at lower levels following support area and a trendline zone as well. At top upper parallel levels of trendline are followed. Now at top and formed a strong red candle which can a be probable top if it gives follow through and breaks 86$ level.
Support Area : Break of Support at 86$ downside will lead to immediate support at 76$ followed...
#UKOIL
88-90$ is seen as strong resistance, If unable to sustain above 89$ then possible correction up to 36$.
then we may expect All-Time High again after a few years but no guarantee for ATH again because of progress in Electric Vehicles.
Brent Crude likely to break Major Resistance 87.
If sustains above 87 we will likely see 115 levels.
Stocks which may benefit from this move -
1. ONGC.
2. OIL INDIA.
3. RELIANCE.
Stocks which may loose because of this move -
1. Asian Paints.
2. Berger Paints.
3. Aviation Industry.
#Brent #UKOIL #Crude
Max to max again 86$ seen possible but If unable to sustain above 86$ then?
1: Interest rate hikes & Tappering in Bond buying will increase Dollar Values against every currency.
2: If unlimited given support by Central Bankers will not perform well then demand will reduce & supply will increase.
Brent oil sees further downside after confirming short-term rising wedge bearish chart pattern the last week. However, oil traders turn cautious ahead of today’s OPEC+ JTC meeting and monthly print of the US ISM Manufacturing PMI. That said, a five-week-old horizontal area and 200-SMA, respectively around $77.20-76.80 and $76.25, restrict the immediate downside of...
Brent oil sellers cheer a clear downside break of 200-DMA and 50% Fibonacci retracement of March-October upside around 13-day low. While bearish MACD signals and descending RSI line, not oversold, favor the commodity sellers, an upward sloping trend line from March 23, around $68.70, is the key for the quote’s further downside. Should the commodity bears drop...
