Brent Crude Oil price is expected to consolidate between 93 to 100, with the main catalyst being China's Covid Policy. There were on-and-off hopes of China's reopening. However, we are still very much on the fence given the continued strict Covid measures in China. On the other hand, China did announce an easing of the measures, reducing the quarantine time....
With the help of support and resistance points, we can take long as well as short Brent crude oil against USD
On H4, with the price breaking the descending trendline and above ichomoku cloud, we have a bullish bias that the price may rise from the buy entry at 98.418, which is in line with the 23.6% fibonacci retracement to the take profit at 105.207, where the 50% fibonacci retracement and previous swing high are. Alternatively, the price may drop to the stop loss at...
On H4, with the price breaking the descending trendline and above ichomoku cloud, we have a bullish bias that the price may rise from the buy entry at 96.458, which is in line with the 23.6% fibonacci retracement to the take profit at 104.818, where the 50% fibonacci retracement and previous swing high are. Alternatively, the price may drop to the stop loss at...
On H4, with the price breaking the descending trendline and above ichomoku cloud, we have a bullish bias that the price may rise from the buy entry at 94.704, which is in line with the overlap support to the take profit at 104.818, where the 50% fibonacci retracement and previous swing high are. Alternatively, the price may drop to the stop loss at 89.447, which...
US President Joe Biden will ask oil and gas companies to invest some of their record profits in lowering the cost of living in the country. Biden will ask Congress to consider requiring oil companies to pay a tax penalty. Biden has previously encouraged oil companies to increase production rather than use profits for share buybacks and dividends. The government is...
On H4, with the price breaking the descending trendline and above ichomoku cloud, we have a bullish bias that the price may rise from the buy entry at 94.704, which is in line with the overlap support to the take profit at 104.81, where the 50% fibonacci retracement and previous swing high are. Alternatively, the price may drop to the stop loss at 89.006, which is...
On H4, with the price breaking the descending trendline and above ichomoku cloud, we have a bullish bias that the price may rise from the buy entry at 91.277 which is in line with the overlap support to the take profit at 104.81, where the 50% fibonacci retracement and previous swing high are. Alternatively, the price may drop to the stop loss at 89.006, which is...
On H4, with the price moving within the descending channel and below ichimoku cloud , we have a bearish bias that the price may drop form the sell entry at 93.533, which is in line with the 38.2% fibonacci retracement to the take profit at 83.911, where the swing low is. Alternatively, the price may rise to the stop loss at 96.352, which is in line with the...
On H4, with the price moving within the descending channel and below ichimoku cloud , we have a bearish bias that the price may drop form the sell entry at 93.533, which is in line with the 38.2% fibonacci retracement to the take profit at 83.911, where the swing low is. Alternatively, the price may rise to the stop loss at 96.352, which is in line with the...
On H4, with the price moving within the descending channel and below ichimoku cloud, we have a bearish bias that the price may drop form the sell entry at 90.944, which is in line with the 61.8% fibonacci retracement to the take profit at 83.911, where the swing low is. Alternatively, the price may rise to the stop loss at 93.156, which is in line with the overlap...
On H4, the price is above ichimoku cloud and testing the buy entry, with the price crossing the descending trendline, we have a bullish bias that the price may rise from the buy entry at 95.650, which is in line with the overlap support to the take profit at 105.142, where the swing high is. Alternatively, the price may drop to the stop loss at 89.971, where the...
On H4, the price is above ichimoku cloud and testing the buy entry, with the price crossing the descending trendline, we have a bullish bias that the price may rise from the buy entry at 93.901, which is in line with the overlap support to the take profit at 105.142, where the swing high is. Alternatively, the price may drop to the stop loss at 89.971, where the...
On H4, the price is above ichimoku cloud and testing the buy entry, with the price crossing the descending trendline, we have a bullish bias that the price may rise from the buy entry at 95.650, which is in line with the overlap support to the take profit at 105.142, where the swing high is. Alternatively, the price may drop to the stop loss at 89.971, where the...
On H4, with the price moving above the ichimoku cloud and crossing the descending trendline, we have a bullish bias that the price may rise from the buy entry at 93.491, which is in line with the 38.2% fibonacci retracement and overlap support to the take profit at 103.154, where the overlap resistance is. Alternatively, the price may drop to the stop loss...
On H4, with the price moving above the ichimoku cloud, combined with the reduction of supply, we have a bullish bias that the price may rise from the buy entry at 96.393, which is in line with the 23.6% fibonacci retracement to the take profit at 102.807, which is in line with the previous swing high. Alternatively, the price may drop to the stop loss at 93.374,...
On H4, with the price moving above the ichimoku cloud, combined with the reduction of supply, we have a bullish bias that the price may rise from the buy entry at 96.393, which is in line with the 23.6% fibonacci retracement to the take profit at 102.807, which is in line with the previous swing high. Alternatively, the price may drop to the stop loss at 93.374,...
On H4, with the price moving above the descending trendline and above ichimoku cloud , we have a bullish bias that the price may rise from the buy entry at 93.947, which is in line with the overlap support to the take profit at 100.494, where the78.6% fibonacci retracement is. Alternatively, the price may drop to the stop loss at 90.107, which is in line with the...