Brent crude registered fresh mid-September highs around $66.20 on Tuesday but failed to confirm a bullish break and finished below $66. Today, the futures struggle to resume the ascent and hint toward a potential bearish correction, though in general, prices stay elevated within the upside trend.
Rejection from fresh highs was due to overbought conditions...
Crude oil prices shifted into a consolidation mode on Wednesday after a local rebound yesterday. Brent has settled above the $63 handle but has yet to confirm a breakout as the upside momentum looks unsustainable fragile. In the daily charts, the futures remain stuck between the 100- and 200-DMAs.
Oil market remains sensitive to trade-related headlines, with...
Brent crude extends gains for a third day in a row. Prices registered two-month highs around the $64 handle and tries not to lose the upside momentum after some consolidation during the Asian session on Friday. Now, the immediate hurdle for the market comes at the 200-DMA around $64.30.
The rally was fueled by positive comments from China. The government...
Crude oil prices failed to preserve gains and got back below the $63 handle. On Tuesday, Brent tries to hold above $62 and struggles to resume the ascent amid the lingering trade uncertainty. Moreover, the market remains vulnerable to further losses despite the futures are holding above the 100-DMA these days.
China expressed pessimism over a partial trade...
Beta-R:Journal. Risk Management: Compound .Level : PA . Time: Short-term - Intermediate . This is just my view follow if it aligns with yours. Ideas are not repeated rather updated.
General election called in UK for Dec 12th and the last thing those scummy politicians want is the voters worrying about petrol prices so I'm shorting until about December 11th.
Price appears to have started a new bullish rotation with some follow-through after the large outside bar on 1st Nov.
Price consolidated and broke to the downside on Friday, which was swiftly and powerfully rejected.
Expecting a continuation of the move higher, I am looking for a swing long (as seen on charts), with targets at:
TP_1: $64.50
TP_2: $68.00
Both...
BRENT OIL APPROACHING THE TREND LINE AND STRONG RESISTANCE LEVEL.
SHORT FROM 62.69
TARGET - 59.30
TECHNICAL ANALYSIS, NOT FINANCIAL ADVICE.
TRADE SAFE AND PROTECT YOUR CAPITAL.
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
Support and resistance are converging for brent oil. In the coming days, it will be forced to break out either to the upside or downside. Subsequently, a strong trending phase could ensue. Following the volatility after the Saudi attack last month, brent oil retraced back to prior support around $57.40, as shown in the chart.
Support around this area comes not...
Double bottom on the price of UK OIL with bullish divergence on the RSI on the daily chart,
Good entry for longs and taking profits at $62 where the 20 MA is at at the moment , price in case of an uptrend most likely will travel towards that level,
Also Fibonacci taken from the high to low of the descending channel we have been trading in for the last few...
Crude oil prices declined aggressively on Wednesday, with Brent has registered fresh nearly one-month lows around $57.20. Today, the prices are making some recovery attempts but struggle to get back above the $58 handle and remain under pressure in general.
The market took a hit from a series of dismal economic data from the US, which spurred concerns over...
The Brent Сrude oil was originally produced from the Brent oilfield in the North Sea. About 2/3rds of all crude oil contracts around the globe include Brent Сrude oil, making it the most popular marker. Its relatively low density and sulphur content are the reasons why it’s described as light and sweet. One of the advantages is transportation since this type of oil is waterborne. The Brent Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum and has a UKOIL ticker symbol.
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