WTICO (West Texas Intermediate Crude Oil) has recently been outperforming BCO (Brent Crude Oil). This trend coincides with an increase in US-produced oil replacing sanctioned Indian refined oil. Potential Opportunity in WTICO The shift in market dynamics could present an opportunity for traders considering long positions in WTICO. However, as always, it's...
Brent - 24 expiry The rally was sold and the dip bought resulting in mild net gains yesterday. Intraday, and we are between bespoke support and resistance 73.72-81.78. Immediate signals are hard to interpret. Previous resistance, now becomes support at 77.40. There is no clear indication that the upward move is coming to an end. We look to Buy at 77.40...
According to the chart all support zones will be broken down to 64$.
Recent technical analysis has revealed a bearish signal as the Exponential Moving Average (EMA) 50 has crossed the Fibonacci .618 level, indicating a potential downward trend in oil prices. Technical indicators serve as valuable tools to assess market movements and make informed investment decisions. The EMA 50, in particular, is widely recognized for its...
After months of languishing, crude oil has skyrocketed above $80 a barrel in London, signaling a remarkable recovery in fuel demand across China and other regions post-pandemic. But that's not all! Brace yourselves for an even more thrilling development: production cutbacks by Saudi Arabia and its OPEC+ allies are poised to deplete storage tanks worldwide...
Well Everything is obvious and after retest keeping downtrend between 37 to 40$.
Thursday brings us a short update on brent oil. This instrument has been heavily bombarded recently by the macro data, not only for oil, but also the macro data for the USD. Let’s start with the one for oil. Yesterday’s inventories. Data came in hot (bullish for oil) as the number were significantly below expectation, showing a decrease of 4.5 mln barrels from...
STRATEGY SHORT MORE ADDITIONAL SHORTS WTI bears waiting to pounce but bulls are strong West Texas Intermediate, WTI, has rallied towards a key resistance area as the following charts will illustrate. However, while a subsequent sell-off might be expected while on the front side of the bearish trendline resistance, there has been a firm layer of support put...
Looking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for an immediate sell entry at 82.681, to ride the bearish momentum. Stop loss will be at 83.944, where the 38.2% Fibonacci line and overlap resistance is. Take profit will be at 79.072, where the previous...
Looking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for an immediate sell entry at 8259.0, to ride the bearish momentum. Stop loss will be at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Take profit will be at 7906.3, where the previous...
Looking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Stop loss will be at 8673.5, where the recent swing high is. Take profit will be at 7902.9, where the previous...
Looking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Stop loss will be at 8673.5, where the recent swing high is. Take profit will be at 7902.9, where the previous...
Looking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Stop loss will be at 8673.5, where the recent swing high is. Take profit will be at 7902.9, where the previous...
Looking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a pullback sell entry at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Stop loss will be at 8673.5, where the recent swing high is. Take profit will be at 7902.9, where the previous...
Looking at the H4 chart, my overall bias for BOC is bullish. Expecting the price to retest at the overlap support level. Looking for a pullback entry at 8353.2 where the 50% Fibonacci line is. Take profit at 8672.6 where the recent swing high is, and stop loss at 8208.8 where the 61.8% Fibonacci line is. Any opinions, news, research, analyses, prices, other...
Looking at the H4 chart, my overall bias for BCOUSD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Looking for a buy stop entry at 86.888, where the recent high is to ride the bullish momentum. Take profit will be at 90.439, where the overlap resistance and 61.8% Fibonacci line is. Stop loss will be at 83.853,...
Looking at the H4 chart, my overall bias for BCOUSD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Looking for a buy entry at 86.682, where the 50% Fibonacci line is. Stop loss will be at 85.401, where the recent low is. Take profit will be at 90.439, where the overlap resistance and 61.8% Fibonacci line...
Looking at the H4 chart, my overall bias for BCOUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a buy entry at 86.647, where the 50% Fibonacci line is. Stop loss will be at 85.401, where the recent low is. Take profit will be at 90.439, where the overlap resistance and 61.8% Fibonacci line is. Any...