CRUDE OIL MAKING BULLISH PATTERNBreaking out above $73.6 with RSI above 60 in 4-hour or daily time frame will give a target of $80. Strong support at $70.6.
XBRUSD trade ideas
Brent Crude Oil Alert: Bearish Pattern Forming!The Brent Crude Oil chart is shaping up into a decreasing triangle pattern, signaling a potential breakdown ahead.
🔑 Key Highlights:
• Lower highs forming resistance
• Strong horizontal support being tested
• Bearish momentum building
💡 What to Watch For:
A break below the support line could trigger a sharp downside move. Traders, stay sharp and manage your risk wisely!
#OilMarket #BrentCrude #TechnicalAnalysis #TradingAlert #ForexTrading #CrudeOilBreakdown
What’s your take on this setup? Share your thoughts below! ⬇️
Brent Crude Breakout possibleHello Everyone,
Brent crude price 72.60 breakout possibel above resitance strong momentum till 75,77,80 RSI having strength,volume is concern waiting for either side break is good but overall bullish set up with Awesome ocsillator.
W pattern (BRENT)
The W pattern, or double bottom, is another bullish reversal signal. When you spot it, it often indicates that a downtrend has found strong support and is ready to reverse upward. The two troughs of the "W" shape are key areas of support. Are you anticipating a specific stock or asset to break out of this pattern?
BRENT potential BUY opportunityClosing price currently trade at $73.444 a buy opportunity is envisaged from the current market price as we may continue to see price go up. Our Buy target TP1 is 75.750 , TP2 is 77.815. stop loss at 72.008.
we can see a 78% retracement before around October starting and now again after bull run 78% retracement.
It's a good 1:4 RR trade.
UKOUSD or CRUDE OIL ANALYSISOIL TESTED its sell side liquidity and now its going to buy side liquidity.
Brent Crude - Making Reverse H&S Brent crude has been consolidating and is range-bound for almost 3 years.
Once it breaks out form the current range it would go till 124. Increasing inflation around the globe, especially for countries who are big importers of oil like India.
UKOIL BRENTFalse breakdown of symmetrical triangle pattern could test again $100 in days ahead triggering stop losses and thus heading higher from current levels
Brent CrudeDate 04.09.2024
Brent Crude
Timeframe : Weekly
Remarks :
If breaks multi year support & closes deeply on weekly timeframe then its not a positive signal as far as global economies performance is concerns, mainly from West & China. It has some positive impact on our current account deficit due to lower crude import prices & if dollar correction will occur then it will add more efficiency however, with respect to global demand its both ways earnings damage as well some input cost impact.
The International Energy Agency (IEA) projects global oil demand to grow by slightly less than 1 million barrels per day (mb/d) in both 2024 and 2025
Its one of the most important leading indicators including Baltic index, interset rates, job data & bond yields.
Regards,
Ankur
BRENT (FOREX) WEEKLY TIME FRAME"Brent Crude Oil is a major benchmark for oil prices worldwide. The chart typically displays the price movements of Brent Crude over a specific period, such as days, weeks, months, or even years. Key components of the chart include:
1. Multiple Support From Lower Trend Line
2. Likely It Will Take Support From The 76
3. Even On The Weekly Time Frame It showing A Weak Selling Pressure
Although It Trading below ALL the 100 MA
but worth to watch and wait for a bullish candle to confirm are entre price
and should be place around 72$ can be good 1 ratio risk reward
Thank You <3
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UK Oil - Ending diagonal elliott wave ?Uk oil is consolidating from a long time and it is taking support on a trendline and making compression pattern from march 2023, As per my wave analysis we can see crude around 60 dollars.
After touching 60 we can see crude oil in uptrend. This is the last wave of downtrend 5 th wave.
Thanks
BRENT Decent range breakout in brent
can enter ones the price has tested the levl of 86.650$
can go long with the stoploss of swing low
Buy CRUDE oil now MXC buy near 6510 , we get 9-10% move on sell On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Crude Oil AnalysisHello Friends, Hope you find doing well.
As there are so up down in market now a days because of many reasons
Elections, war, Global data, USDINR, DXY.
So based on following all parameter i am trying to analysis crude oil price action, hope it helpful for all commodities trader.
As we can see in chart it is making bullish flag pattern on 4hr timeframe. So we will se break out up side and we can make better position according. It may trigger by global data or by war declare.
Plan your trade according your analysis. I do not recommended to do as i said. I just analysis chart pattern and data which make positive price action.
Best of luck
Regards.
BCOUSD : Bullish Momentum Signals Potential Surge to $104-$124 Brent Crude Oil charting its potential trajectory amidst current market dynamics. Through a meticulous examination of technical indicators and chart patterns, a compelling case emerges for an imminent bullish surge within the $104-$124 range.
Based on the comprehensive analysis of these factors, it is anticipated that Brent Crude Oil to embark on a significant upward trajectory, targeting a price range between $104 and $124. This projection aligns with the prevailing bullish momentum and anticipated price appreciation.
Bad times possibly ????Brent and Dollar near crucial weekly resistance. Any breakout could bring pain for Nifty
CRUDE oil MCX also sell on every rise till recent high not breakOn Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Brent Crude BullishW pattern in making
already reversed from Double bottom.
rest all levels are marked on the chart.
Breakout Based:
Buy above 95
SL 91.5
Tgt 114 - 120 - 131
Support Based:-
Buy near 87
SL 82.5
Tgt 95 - 114 - 120 - 131
This is for educational purpose and papertrading only. Please consult your financial Advisor before investing. We are not SEBI registered.
Happy Trading.
UK OIL Technical Analysis - The weekly outlook for UK Oil looks very positive and promising
- The base is getting matured on the weekly whereas the Daily base has already matured
- As of now waiting for the base to form and enter once you see a low getting taken out by huge demand
- My Bias over this is straight bullish and nothing else to consider
UKOIL BRENT CRUDEAfter 5months of rigorous compression it nears its long term resistance trendline
With VCP pattern its likely to break resistance forming upthrust candle.stop loss closing below the rising support trendline
Crude levels - Bearish bias due to fundamentalsOn a downtrend with strong support at 72. On confirmation of breaking upper line can enter but problem is with fundamentals. Saudi cutting 2 dollars is bearish as it decreases the incentive for US producers and showes the lack of confidence with respect to demand. So Can even push below the 72 support and go down before uptrend. Till then wait and watch
