CFDs on Crude Oil (Brent) UKOIL

Multiple SUPPORT $78.59 - $78.49. In Last Candle Bounced from $ 78.59 In 2nd Last Candle Bounced from $ 78.49 Closed Below Drag to $77.51, $ 76.92-

Another analysis shows Inverted HnS on Weekly charts of Brent. Target is the length from Head to neckline ,which suggests target $91.50 My previous analysis suggests rounding pattern on daily charts whose target is also near this zone.. So charts say that we ll see crude at 90/91.5 in upcoming days,..

Whatever it is,it's bad for oil importing countries.. $80.5 is the level to watch out for..

Crude moving down south.

Oil traders eyed fresh insights from OPEC and IEA reports Supply crunch back on the table The downside prevails as long as 79.50$-80.50$ is resistance zone The monthly OPEC report will be released on Wed, 12 Sep and IEA report will be published on Thu, 13Sep respectively. We believe this week’s Brent crude oil price action is likely to remain controlled by ...

The down trend has started and we may see a sub 70 level by end of this month

75.63

Brent likely to comedown after visiting 72.70

Brent oil price fell 1.0% last week for a third week in a row, as the Turkish Lira crisis ignited the economic growth concerns. On Monday the oil price volatility stabilized, and the price inched up by 0.6%. From June high’s the price declines for six weeks out of seven. Recent weakness attributed to the ongoing trade concerns and a dip in global economic growth, ...

May see a level of $65.xx in near term

LONG

Crude may go to 72.75 and then start moving up.

Could not cross 2/1 ascending line, the channel thus formed shows Crude is heading for sub 70 level. Interim target 69.75 and in down trend.

RSI showing divergence which is a sign of breakdown. This fall is due to increase in supply from Libya. In my opinion oil should retrace back from 71$ or from 67$ and make new high in next 3-4 months. WINTER IS COMING!

Support not likely to be broken at 72.67

In bearish trend, upper limit 76.25 lower range seen at 75 in short term.

May go down to 72 in short term if it does not recoup and goes back above 82.25

Crude is in down trend and is out of 8/1 ascending Gann angle. May find support at 72.