Crude oil may rally soon.Crude oil may rally soon . Getting out of triangle soon. No advice to buy or sell .
BRENT trade ideas
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 $100.00 psychological magnet.
💡Brent Crude Oil - Weekly technical analysis update
Midterm forecast:
While the price is above the support 95.108, resumption of uptrend is expected.
We make sure when the resistance at 131.000 breaks.
If the support at 95.108 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
While the RSI resistance #2 at 62 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 99.245 on 04/25/2022, so more gains to resistance(s) 119.964 and maximum to Major Resistance (131.000) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 59.
Supports and Resistances:
131.000
119.964
110.926
95.108
85.714
75.000
64.647
50.000
36.546
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UK Brent Oil. Looks Bearish In Short Term.TVC:UKOIL
UK Brent Oil can retest or break 102$ per barrel in short term.
Ukraine And Russian Crisis cool off can make oil cheaper.
Trade on your own risk and analysis.
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.
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.
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.
Crude Oil "5" wave is under formationCrude Oil "5" wave is under formation. This is for education purpose only.
💡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
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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.
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.
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+
Crude oil Headed for $115-120Crude 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 $115-120 levels in 4 to 6 moths time
Russia - UK tension to and demand pickup to be key drivers
originally published on 1st Feb after highest monthly close in 7 years
Close below 87 will nugget the view
*************
Disclaimer :
-Please conduct your thorough research/analysis before doing the trade
-Idea shared is only for educational purpose
-Please trade on your own risk
************
Crude Analysis !! #Crude #Commodities
Description : Crude at lower levels following support area and a trendline zone as well. At top upper parallel levels of trendline are followed. Now at top and formed a strong red candle which can a be probable top if it gives follow through and breaks 86$ level.
Support Area : Break of Support at 86$ downside will lead to immediate support at 76$ followed by 72$ & 65$. If not, Uptrend may continue.
Resistance Area : Break of resistance on upside 91-92$ on upside will again resume uptrend.
Crude (UK Oil)#UKOIL
88-90$ is seen as strong resistance, If unable to sustain above 89$ then possible correction up to 36$.
then we may expect All-Time High again after a few years but no guarantee for ATH again because of progress in Electric Vehicles.
Stocks to benefit/lose from CRUDE breakout.
Brent Crude likely to break Major Resistance 87.
If sustains above 87 we will likely see 115 levels.
Stocks which may benefit from this move -
1. ONGC.
2. OIL INDIA.
3. RELIANCE.
Stocks which may loose because of this move -
1. Asian Paints.
2. Berger Paints.
3. Aviation Industry.
Crude (UK Oil)#Brent #UKOIL #Crude
Max to max again 86$ 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 stays softer ahead of OPEC+ JTC, US ISM PMIBrent 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 the commodity ahead of today’s key events. In a case where the UK oil benchmark drops below $76.25, the mid-December swing low of $72.85 will be in focus.
Alternatively, recovery moves remain elusive below the recent tops surrounding the $80.00 psychological magnet. Following that, oil buyers can quickly rush towards the late November’s top surrounding $82.80-85 and then to the November 10 peak of $86.00 should return to the chart. However, a clear run-up beyond the $82.85 won’t hesitate to cross the 2021 high surrounding $86.70. To sum up, Brent oil sellers have firmer grips on the prices ahead of the key events that might turn out as a challenge for bears.
Nine-month-old support line becomes crucial for Brent oil bearsBrent 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 below $68.70, the 78.6% Fibo. and August month’s low, respectively near $66.20 and $65.10, will return to the charts before directing the British energy benchmark towards March’s low of $60.44.
Meanwhile, an upside clearance of the support-turned-resistance confluence around $73.50 will aim for a 38.2% Fibonacci retracement level of $76.70 and then to July’s swing high near $78.50. In a case where Brent oil buyers manage to cross the $78.50 mark, the $80.00 psychological magnet and $82.80 will act as buffers during the run-up targeting the yearly peak of $86.60. To sum up, Brent oil bears tighten the grip but the ball may slip if the trend line support holds.
Crude Oil Set to go up Once againGear up and place your limit orders on break out...!!! Cup and handle pattern to give breakout by 18th Dec 2021
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