Brent Crude Oil : Multiyear(2015-2022) inverted Head and Shoulders triggered at the beginning of this year. Price broke the major downtrendline and subsequently iH&S neckline at 87 (lime) and then skyrocketed to 138. Now pulling back down to the neckline. We could actually see the backtest of the major downtrendline and dip into the S/R Zone 76-68. This would be...
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M formation has formed over the Rising Flag. This confirms not one but 2 bearish patterns in the making. There is a strong chance of the price coming down. and we have other indicators confirming. 7= 21 - crossing Price <200 RSI<50 Target $67,71
Hi Traders, Investors and Speculators of the Charts 📈📉 Oil gets a bad rap these days, but the stuff is actually quite incredible. Many people think of crude oil as a thick, black liquid that is used to source our unquenchable thirst for gasoline and suffocate marine life. Although this isn't untrue; the reality is that each barrel of oil is refined to be used in...
Rising Flag has formed after the downtrend with Brent. The price has broken below the rising flag which confirms bearishness. 200 > 21 > 7 - Bearish RSI <50 Target $67.89 FUNDAMENTALS: We've seen the US Dollar start to strengthen a bit which is can continue to do so for the next few weeks. A strengthening US dollar can cause Brent crude price to drop because...
Brent accomplished the climb above the $86.06-mark and should continue to rise to finish the blue wave . Once completed, we see the course heading for a steep downwards slope to dip right into the green target zone between $77.13 and $42.20. Within the target zone, we expect the Oil to sink further to end the blue wave around the $62-mark, before rising back...
UKOIL will touch 170 and after pullback will hit 203. RSI is in best condition.
●● Preferred count ● CFDs on Brent Crude Oil (TVC) , 🕐TF: 1M Fig.1 The three-wave movement within the framework of wave III of (V) is not completed. The minimum target is the same — to exceed the wavelength of wave II , which will lead to a rise in the price to $ 150+ . The subsequent wave IV will return the price to the current...
Brent oil, which has been in a downtrend for weeks, will break the trend if it closes this day above $86. If it continues this movement with volume, the target of $ 98 will be valid. As long as it stays above the $84 support, the positive outlook will continue.
Current price remains below its 40 week moving average (200 days) which indicates that the longer term trend is lower (100 days or more), however, the scope for a further near term (25 to 50) corrective upside rally from the November high - December low remains on the table, provided the key resistance near $85.05 can be overcome for prospective extension move...
Demand for crude oil is expected to rise after a cold wave hit USA, which will likely increase the demand for oil distillates, easing of the COVID measures in China and US crude oil inventories coming up less than the analysts have had expected. British crude oil benchmark, BRENT, had broken the resistance of the triangle pattern, a strong bullish predictor, and...
We're finally seeing green! After waiting the whole year for Brent to reach the green target zone between $77.10 and $42.16, our British friend finally came through! We're expecting the course to sink a bit further to finish off green wave before heading back North above the $80.79-mark.
As you can see in the chart, due to the weakness in the decline and the reaction to the support level, I expect an upward correction first, and then I will update the analysis if there is a reaction to the resistance level. Stay with me to get more analysis after following me by sharing with friends and leaving a comment. According to my risk and capital...
Today we would like to share my opinion on the possible price of Brent Crude Oil in the coming years, analyzing the chart on a monthly timeframe The war in Ukraine is not just a war between the two countries, it is a geopolitical problem that will affect all world economies. The world's economies have not yet recovered from the Covid-19, and here is another...
Been charting this move since mid July 2022, we are getting close to a bottom IMO, currently testing the bottom TL of the mega phone pattern. Now looks like a support flipped into resistance. Targets remain $45-$55 for a bottom and likely big bounce from there. Which is the 618% from the covid 2020 crash when prices went negative.
Brent Crude Oil - Seem supported if we draw a 2 red arrow there. If this area indeed supported & rebound, we will see our KLSE energy moved. Might retest 100 as resistance here. Risk side, it might just be a technical rebound here cause there are no red chip aggressively appearing.
Rectangle Formation has formed on Daily and it's anyone guess where it's going. On the bearish side, 3 Black Crows candles have formed as the price touches the medium beartrend line. We need to wait for a breakout before we do anything... Bull $120 Bear $67.65
TVC:UKOIL is back at the previous support level. Will it find support again? If $85-ish fails then $76-ish becomes the next potential support level. What does this mean for JSE:SOL NYSE:SSL ?