JSE:SOL is now trading on a declining 200MA, the stock met resistance at the 200MA. TVC:UKOIL , if JSE:SOL has any relationship with it, is also trading below a declining 50MA. Negative setup.
Brent is in a predominant falling wedge channel. As I have mentioned this week, channels are always stronger than breakout patterns. So we need the price to break below or above a certain level, before the price stops meandering... The first target is to the top of the channel at $97 then down to $88 (channel). If the price breaks below the channel then we...
We keep making lower highs and lower lows so I'd rather going with trend than fomo in. We might see reversal if that area is broken
TVC:UKOIL is still on the downtrend, and JSE:SOL seem to be following it. At the moment I wouldn't be surprised if JSE:SOL test R245/share.
Bulls and bears are competing for preeminence, and both of them have gained the upper hand now and then. In the long run, we expect the bears to win this battle, though, and to drag Brent to the green zone between $77.10 and $42.16, where it should finish wave III in pink. After a short countermovement to complete wave IV in pink, Brent should enter the blue zone...
Hi guys! 👋🏻 🔔 Surprisingly low US inventories data supported a short-term uptrend of Brent crude, comforting the price to hit $90 this week. 🔔 OPEC+ meeting scheduled on October 5 will be on the watch, as the cartel suggest a production cut of 100,00 barrels per day (bpd). 🔔 Brent once again retested the upper edge of the descending triangle, although the...
Brent Crude ⛽️ Oil ⛽️ has passed the main wave W by Zigzag structure (5-3-5). Oil could finish Expanding Flat (3-3-5) or Main wave X at 138.03$ . Of course, the War can change my Scenario, but I don't expect Oil to break 177$ . I expect the Brent Crude Oil to go DOWN at least to the upper line of Descending Channe & Support Zone . Brent...
Brent looks like it's on its way down! Broken below a Falling Wedge (which is rare). The RSI continues to make lower highs. and so the first target is around $67.65
Simple technical analyzes. Trying to capture a quick swing upwards before the overall fundamental outlook comes into place.
This graph is a representation of my point of you of the futures market (USD).
This graph is a representation of my point of you of the futures market (USD). First SHORT as people will stock up before winter and hold then LONG once winter hits Europe and fear of lack of Russian oil supply will stop in December.
On the weekly chart, there is ether a strong Falling Wedge in the making. If the price breaks up and out of the Falling Wedge, we can expect the price to move up to $155.000 If Brent Crude forms an M formation (Double top), it's possible for Brent Crude to be bearish and on the way down. But we need the double top to form first. What are your thoughts...
The bears have their territory under control and plan to extend it further, more precisely, till the blue lake between $76.67 and $70.61, where they should fish for the end of wave 3 in blue. However, there is a 38% chance that the bulls could make an appearance and challenge our furry friends. This challenge, though, should only be successful if they can make it...
This graph is a representation of my point of you of the futures market (USD).
Brent Oil is in correction and very likely can test the horizontal trend line.
Brent oil breaking out after a very long down trending period, now targeting $112 a barrel.