Hello guys ,
it seems usoil started a bullish reversal after Breaking the neckline of the double bottom and an important keylevel on the daily tf.
if the price manages to do a pull back towards the area where the trendline + poc + demand zone is it could give a great great buying opportunity .
Update the PULLBACK was done exactly as expected am waiting for...
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
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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...
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.
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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.
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Brent crude oil 4-hour and mid-term time frame analysis The possibility of the formation of ABC corrective wave, which is currently expected to be in wave B, and after the end of the range, it will continue to rise towards the number and range of $83 and $85 as wave C. The main and important support number and range is 76 and 77 dollars.
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...
A glimpse of the CADCHF in the first half of 2024
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According to my risk and capital management system, the risk of each trade is one percent per position.
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A glimpse of the BCOUSD in the first half of 2024
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According to my risk and capital management system, the risk of each trade is one percent per position.
What do you think about this analysis and other analyses?
What symbol would you like me to analyze for you?
Brent
W1 - The price may form a potential 3-wave structure, which, if wave 1 is broken, will mean continued upward movement to the values of 95.90
D1 - You can observe the formation of a triangular structure with a breakout of the upper trend line. Globally, the levels that the price can reach are 92.04
What can you expect?
You can consider entering...
Crude is under pressure of fear of recession and can goes down again.
Upper line of broad channel is so strong and can push price to 68.00 zone.
Trade safe.
Good luck.
Multiple time frame analysis for WTI.
Price action and important key levels.
Trend analysis and directional bias.
Trading plan.
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Daily/4h time frames analysis for Oil.
Price action, important key levels.
Potential scenarios & thoughts.
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WTI Crude Oil keeps falling.
After a completion of a correctional movement, the market dropped again
and violated a key horizontal support.
After a breakout, the price formed a narrow horizontal range on an hourly time frame.
Its support breakout is an important intraday confirmation.
We can anticipate a bearish continuation to 67.3 level now.
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Another Good News to the World.
Any close below 74.60, as per 3Months chart, #Brentoil will fall to minimum 64$, below that 42.12.
Unless these levels are not tested, Brent oil won't make new high or another Bullish Move
Brent crude oil looks to have made the 1st leg lower in a new long term downtrend
Trade: Wait for bounce from recent thrust lower to cluster of resistance to go short
