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...
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...
This is a small snapshot of the volume profile on the 30 minute, but the large view says higher, I believe, and in the shorter fractle, I believe this shows why. We have higher VAH, we are above POC, and we have cleared previous areas of volume.
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...
- Demand from China is soaring. - The US dollar index has recoiled. - Supply is not rising as fast as demand is. - I think recession fears are overblown. Where I live, people are traveling like crazy. - European Union will announce new Russia sanctions on February 5.
As evident on 4Hr Time-Frame with formation of Bearish Cypher harmonic pattern UKOIL a reversal is possible. Seasonal Analysis shows JXY & DXY remain Bullish in January over 60% which have negative correlation with Oil. CXY on the other hand remain Bearish in January over 70% of times which indicates a low price of Oil. TPs can be set as per Fib Lvls...
Bearish Indications • Resistance Zone at 85.26 • AB=CD where the D point is at 85.93 which indicates a reversal • Gartley’s XABCD indicates 85.73 Area • Seasonal Analysis Shows DXY remains Bearish at over 80% in December month Bullish Indications • Three White Soldiers • Significant Support Zone at 0.68329 • Resistance Broken at 0.68629 • Support Zone at...
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...
Brent Oil: I don't think the downtrend is finished; I believe we will see lower prices on Brent Oil. However, I think the price has a correction or pullback to the trend line.
TVC:UKOIL is now trading below $76/pbl. Not much, it was one of those imaginary support levels. It might go to the sixties. How will JSE:SOL handle this?
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.
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...
In my opinion, oil can experience a heavy drop in the coming days I can't say exactly how many days, but it will happen soon So be careful in your purchase transactions
Bear Rectangle is forming on Sasol as it previous did a few months ago. There are bearish signals as the downtrend is continuing. The 200 > 21 >7 MA which once the price breaks below R277.95 we will have our next target at R225.43. This confirms with the ongoing drop in oil price...
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
Potential Ascending Triangle on Brent Crude forming. We are just waiting for the price to break up and out of the resistance and then the first target will be around $122... Moving Averages look good 7>21 <200
Cup & Handle has formed on Daily and now we are just waiting for the breakout of the brim level. 7>21 <200 almost perfect. We just need the price to cross above 200MA First target $122
If you can recall back Oct 20th Crude chart guidance was to monitor its retracement ended. We can also see there are red chip progressing during those rise period. So i assume if tomorrow crude future turn green, very likely it will goes beyond 100 here.