This is my personal opinion and observation. it is not financial advice..
us Oil at key level if price break this resistance level then oil will hit 90
Brent oil last trading week completed its bullish structure, and thus indicating the potential for price to exceed $90 in the coming days. The market has witnessed the formation of a bullish structure characterised by higher-low and higher-high, signifying a positive momentum in the oil market. N.B! - UKOIL price might not follow drawn lines . Actual price...
Crude Oil broke and closed above a key daily structure resistance. The broken structure turned into support. We can anticipate a bullish movement from a broken structure. Next resistance - 78.40 ❤️Please, support my work with like, thank you!❤️
The West Texas Intermediate crude oil has trended mostly sideways for over a month, moving between $68 and $75 per barrel. Yet, while the situation in the Middle East and the Red Sea continues to deteriorate, the oil market keeps growing increasingly ignorant of the dangers of a broader war in the region that could further disrupt the transit of goods and oil...
Looking at the short-term technical picture of EASYMARKETS:BRTUSD on our 4-hour chart, we can see that the price is approaching a key resistance area, around the 81.50 hurdle, which is marked near the highest point of December 2023. At the same time, the price remains well above a short-term upside support line drawn from the lowest point of December. Although...
A recent bullish trend is evident in BRENT UKOil on the 4-hour time frame, marked by the development of higher highs and higher lows. My approach involves anticipating a retracement into the 50-61.8% Fibonacci zone, creating a favorable discounted entry point. It is essential to emphasize that this analysis is merely an educational idea and should not be...
Preferred direction: BUY Comment: The shorter-term view for the USDCAD currency pair is directed upward. The US dollar is still strong, and further strengthening is expected this week. The most likely scenario is growth from current levels. Less likely is a retest of the support area at the 1.34000 level. The long target is located at the level of ...
WTI Crude Oil formed a double top pattern after a test of a strong horizontal resistance. Its neckline breakout is a strong bearish confirmation. We can anticipate a retracement at least to 73.0 level now. ❤️Please, support my work with like, thank you!❤️
🔸Today let's review the daily chart for brent oil . Noteworthy bounce in progress after accumulation near lows, speculative XABCD setup in progress. 🔸XABCD is defined by point X at 97.45, point A at 73.70, point B at 93.85, point C (confirmed) at 76.85, point D in progress at 105.30. speculative trade setup with advanced entry reversal at point C. 🔸Recommended...
Hello Traders, Base on technical and wave analysis we see this scenario for #Brent Oil for next move. let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Here are the important key levels & structures to watch next week on WTI OIL. Support 1: 69.3 - 70.4 area Support 2: 67.7 - 68.7 area Resistance 1: 75.2 - 76.2 area Resistance 2: 78.5 - 79.7 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
Preferred direction: SELL Comment: Sell-deal by oil is also relevant. Recent events in the OPEC arena did not have a positive impact on oil, and the decline continued. At the moment, the transaction has been moved to breakeven, and part of the profit has been fixed. However, on Thursday, there is a good opportunity to take a closer look at short-term...
Preferred direction: Neutral Comment: Our last trading idea for AUDUSD successfully hit its target. At the moment, it is assumed that the instrument will sink down a little more, but you can already think about a reversal upward. The current estimated area is quite wide, so entry points are now anyone's guess. Therefore, we will be patient and wait for the...
Preferred direction: SELL Comment: For the British pound , we continue to adhere to scenario №2 . The first, as we remember, has already been worked out, but since the fall continues to be relevant in the medium term, scenario №2 is also relevant. Just like other major currency pairs, the pound has accumulated buyers within the current balance, which is a...
Preferred direction: Neutral Comment: There is no particularly interesting situation in the medium term for oil yet, but we can say that there are still more signs of sell. After all, the instrument is in a downward global trend. The current accumulation after a small downward impulse is filled with purchases (long-orders), that is, there is a resource for...
Brent D1 - Update* After breaking through the trend line, the price was unable to gain a foothold behind the line, which may lead to further downward movement when the lower line is broken. For shopping, nothing changes dramatically. Globally, the levels that the price can reach are 92.04 If a downward movement is realized, the levels can be considered at a...
Oil is not looking good on the chart, i'm still shorting it unless $83,83 is taken out. All major indicators are bearish for oil.