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Brentcrude

Brent Crude ready to drop towards $31.50 at leastBrent Crude seems to have completed its impulse rally that had begun since $15.75 lows in April 2020. The commodity has hit fibonacci 0.618 extension of waves 1 through 3, at 39.00 levels already. Ideally, a 5 wave rally is followed by a 3 wave corrective drop at a similar degree A-B-C. Wave A could drop towards fibonacci 0.382 retracement of the entire rally or previous wave 4, which is around $29.00 levels. It should be followed by Wave B higher and finally Wave C lower towards 25.50 at least. A 5 wave rally also confirms that Brent Crude has still got enough room left on the north side and that the commodity might remain in control of bulls for a long time. We should be witnessing a sharp rally towards $65.00 levels as Wave (3) unfolds, after the corrective drop is complete. Strategy: Short term bearish towards $31.50 and $25.50 Long term bullish against $15.00, targeting $65.00. Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
Brent Crude Has Topped @ 36.90 or Could Print $38.00Brent Crude drop from $36.90 until yesterday seems to be a flat/corrective. Hence probability remains that there could be another high before Wave 5 terminates. As seen on the chart here, the fibonacci 0.618 extension of Waves 1 to 3 is seen around $38.99. The counts have been adjusted accordingly, leaving room for another push towards $38/39 levels before reversing lower again. Either way, Brent is on its way towards a long term bullish reversal and a meaningful corrective drop would provide yet another opportunity to initiate long positions. Overall, Brent Crude structure remains bullish against $15.00, going forward. Strategy: Long against $15, targeting above $50/60, long term. Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
Today's matrix for mid term trading on m60 and h1 timeframes.ICEEUR:BRN1! Hi everyone. My analysis done for my main timeframe 5m. I start from higher timeframes and move down to lowest m5. As my analysis is already done, I'm publishing matrix levels also for h1 for mid term traders. If somebody is interested in higher timeframes such as D1, W1 please let me know in comments and I will publish these levels too. Moved to new contract. Futures contract for Brent crude , London exchange ICE 08-20 My trading is based on market phases. For timeframes m60 and h1: Buy after breakout on the test of level 36.92, target 38.19 Sell 33.7, target 32
FX:UKOIL
by AleksZhdan
Brent Crude prepares to drop towards $29.00Brent Crude might be preparing to unfold its corrective drop as a flat towards $29.00 levels at least. The commodity seems to have completed 5 waves rally between $15.75 and $36.90 respectively. During this rally, it has managed to take out a major resistance at $36.30 levels. It is now confirmed that bulls are in complete control and that the rally is not complete yet. Ideally, after a 5 wave movement in one direction, we can expect a 3 wave move in the opposite direction (counter trend). In this case, a counter trend drop is expected to resume any moment towards $29.00 as the first target. We would review again when prices reach $29.00 to see if the drop is complete. Overall, expect a corrective drop for the short term, before Brent Crude rally could resume toward $50.00 levels. Strategy: Long term bullish against $15.00, targeting above $50.00 Short term bearish towards $29.00, stop at $39.50 Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
Brent Crude Complets Impulse Around $36.30/50Brent Crude seems to have either completed 5 waves rally around $36.0 today, or is very close to terminating. We have been calling for this impulse wave to be completed since $16 lows in April and that Brent has managed to carve a multi-year low. The wave counts are absolutely clear with not much room left for error. Ideally, after a 5 wave rally, we can expect a 3 wave corrective drop. With the above target achieved, bulls might be preparing to take a break as bears take control to produce a meaningful corrective drop. A break below $34.00, lower degree wave iv, will confirm that a meaningful top is in place at $36.70. Aggressive traders might be looking to go short with a potential target around $24.00 going forward. Overall long term structure remains bullish except for the corrective drop to materialize soon. Strategy: Long term: Long against $16, targeting above $60 Short term: Short against $38/39, targeting $24 Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
Brent Crude is close to terminating Wave 5 just above $36.30Brent Crude may be just one wave away from terminating Wave 5. The projected fibonacci extensions are pointing towards $37/38 levels but a push above $36.30 would complete minimum requirement. Also note $36.30 was previous Wave 4 termination at a lesser degree and a break higher confirms trend reversal for the long term. We had been calling for a push through $36.00 levels since last several weeks now, and it seems Brent is now close to completing its first impulse through $36.30 resistance. Thereafter, it is expected to produce a corrective drop A-B-C towards $24.00 levels, before resuming its rally. Believe it or not, Brent Crude has potential to close year 2020 back above $60.00 handle. Strategy: Long against $15.00, targeting $36.00/37.00 (almost achieved). Waiting for a pullback to enter buying again. Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
BRENT OIL ($UKOIL): Demand For Oil is Back, But is the Uptrend?BRENT OIL ($UKOIL): Demand For Oil is Back, But is the Uptrend? ✨ New charts every day ✨ Like, Comment & Follow to help the community grow 🎉🎉 --- Brent Oil (UKOIL, USDBRO, OIL_BRENT, BCOUSD) prices are seeing momentum again with Brent Crude forming an uptrend after an ugly start to 2020. Will we continue to see strength for oil, or will the lingering excess of supply work to suppress or even push down price? The chart suggests we have more upside, so let's map out a plan for what we do as oil prices rise. Resource: www.aljazeera.com --- 1. Fractal Trend just started showing an uptrend (Aqua bar color) on the 1 hour timeframe for the first time since early 2020. 2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua) and/or bullish S/R levels plotted by Directional Bias (Aqua). 3. Right now we are looking for an entry off of S1 S/R + order block cluster to ride this potential uptrend to our R1 take profit target below the gap at the range formed by prior swing highs, and our R2 exit target above the gap which would then form a gap fill. 4. The only three full position closure conditions here are if we hit both take profit levels, Fractal Trend signals a downtrend (Maroon bar color) and/or the stop loss is hit. 5. If Fractal Trend signals a downtrend, we will then be looking for short setups instead. So keep in mind that although we currently have a fresh bullish bias on oil, that could change quickly depending on what happens with the oil economy and with oil prices. Good luck family!
TVC:UKOIL
by AlphaBotSystem
Brent Crude preparing to rally towards $37.00/38.50Brent crude is finally looking to rally towards the $38.00 handle as Wave 5 seems to be underway. Yesterday's low at $28.87 might have finally terminated the triangle count as Wave 4. If the above counts are correct, we should witness a Wave 5 rally unfolding towards fibonacci 0.618 extension marked on the chart here. Structurally Brent Crude seems to have carved a major bottom around $16.00 levels in April. Since then, bulls have managed to print a series of higher highs and higher lows terminating Waves 1, 2, 3 and 4 as labelled on the chart. Major price resistance is seen around $36.30, the previous Wave 4, and a break higher would confirm that bulls are here to stay. Expect a corrective drop thereafter, before the rally could resume. Strategy: Long against $15, targeting above $37 in the near term. Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
2
Brent Crude is ready to push towards 37.00 levels Brent Crude might have terminated Wave 4 around 29.34 levels yesterday. As discussed earlier it has unfolded as a triangle consolidation after terminating Wave 3 around 32.00 levels. Brent Crude has been printing higher highs and higher lows since $15.97 lows on April 22, 2020. The wave counts are also pretty clear with 1, 2, 3, and 4 looking to be in place as labelled on the 4H chart here. If the above counts are correct, Wave 5 rally should resume anytime and push above 37.00 handle taking out resistance at 36.30. This would complete the first impulse and also confirm further upside towards the 50.00 handle. A 3 wave corrective drop after 37.00 would provide an excellent opportunity to go long again. Strategy: Long against $15, targeting $37 in the short term. Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
Brent Crude terminated Wave 3 at 32.24, Wave 4 underway nowBrent Crude is moving higher as expected, terminating Wave 3 at $32.24 handle before pulling back. The commodity is seen to be trading just below $30.00 for now and is expected to carve/terminate Wave 4 towards $25.00/27.00 handle, before resuming higher again. The wave structure has been pretty clear since $16.00 lows in April 2020. It remains just one wave away to complete an impulse rally between $16.00 and $36.00/37.00 handle. If the above counts are correct, we should witness Wave 5 resuming from around $27.00 and reaching up to $36/37, taking out resistance (previous Wave 4) at $36.00. This would also mark a long term bullish reversal against $16.00 lows. Strategy: Long against $15, targeting $36/37 as near term targets. Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
2
Brent Crude is close to terminating Wave 3 around 29/30 levelsBrent Crude is just a few cents away to hitting 29/30 resistance and potential Wave 3 termination. The commodity has been moving in line with expectations until now and if the counts are correct, we should see a drop towards 25 levels as Wave 4 prepares to unfold. As a general guideline, 4th waves tend to drift around fibonacci 0.382 retracement of the 3rd wave, which is close to 25. Once the corrective drop is complete, Brent should proceed towards 33/34 levels as Wave 5 progresses. Ideally, prices are expected to break above 36 mark, to confirm a long term bullish reversal ahead. Strategy: Long against 15.00, targeting 36.00. Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
Brent Crude AnalysisThe COVID 19 pandemic that is kneeling the world caused a major drop in oil prices in some cases even reaching levels never seen before. At today's date oil is still in oversupply suggesting a further drop to the downside. But... there is a but, from Our technical prospective Brent Crude has reached it's level of extension and is ready for a retracement. In Our view the price from current levels is aiming a first level of resistance around the 40$ level. Let's watch how price action will evolve in the coming days looking for a perfect set up ;)
OANDA:BCOUSD
by TheTechnicalAnalysts
Brent Crude progressing towards 29.00 as Wave 3 unfoldsBrent Crude remains bullish as it terminated Wave 2, just ahead of 18.48 as highlighted in our previous discussions. The commodity is seen to be trading around 26.38 levels as we write this article and it is just a matter of time before bulls take out 29.00/30.00 resistance, Wave 3 on the chart here. Thereafter, we can expect a corrective drop as Wave 4, before the 5th Wave rally resumes towards 36.00 levels. As a guideline of alternation, Wave 4 could be a triangle or an expanded flat. Structure remains bullish until 15.00 levels holds. Strategy: Long against 15.00, targeting 36.00. Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
Brent oil (BCOUSD) longI see no reason to short oil. The decision area for me is about $ 23 per barrel, I focus on my broker quotes. I believe that a recession awaits the economy, but we are now closer to the moment of exit from the lockdown and the probability of an increase in oil demand is higher. Asian countries are beginning to come into normal operation, and for them, buying oil at current stock prices is a very interesting idea. Companies engaged in shale oil production are probably close to bankruptcy or a temporary halt in oil production. In May, the first reductions according to the agreement between OPEC and the Saudi Arabia and Russia. I don’t see an opportunity for short. Therefore, I am considering shopping. Be careful, brokers have very high oil swaps now, so it is better to trade futures but only with stop loss without transfer over the weekend! Be careful with this tool!
OANDA:BCOUSDLong
by THG_trader
Brent Crude prepares to rally towards 29.00/30 as Wave 3 resumesAn hourly chart of Brent Crude has been presented here, in continuation to what was discussed last time. After having produced an impulse wave between 15.00 and 22.50 on April 22, 2020; we were expecting a corrective drop towards 18.00/19.00 levels. Today, Brent has formed a low at 18.71 levels before turning higher again. Wave 2, remained shy of fibonacci 0.618 retracement of Wave 1, by a few cents (18.48). Brent is seen to be trading around 19.81 while we write this article and seems to be progressing towards 29.00 levels, Wave 3 on the chart. Structurally, it remains bullish until 15.00 levels hold good. Strategy: Long against 15, targeting 36.00 Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media. Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
TVC:UKOILLong
by ExclusiveMarkets
2
My Deadliest Prediction On Oil YetOn Monday, while I was doing my weekly market analysis, I saw something I’ve never seen before. For the first time in history, the US WTI (West Texas Intermediate) oil prices crashed below zero. At first, I thought this was just a glitch on my trading platform. But then, just minutes later, it was the breaking news event of the day. When I did the research, I realised that the demand for oil worldwide has been obliterated. And that we can expect a major further drop in Brent Crude oil’s price in the next few weeks. In fact, I’m about to make my wildest prediction yet on why I expect Brent Crude to drop to a shocking $8.11 a barrel. Let me explain… Negative oil prices hit for the first time in history The Coronavirus pandemic and the world lockdowns has sent the demand for oil down (almost 1/3rd of the world’s oil demand). In fact, the world’s demand for fuel has dropped from 100 million barrels a day, when the economy was operating at full capacity, down to just 29 million barrels per day. As there has been a significant drop in demand for global travel, transportation and economic activity, there is a massive oversupply of physical oil. In fact, on Monday we saw US WTI crude oil for May futures drop at -$36 (-300%) a barrel. This tells us that producers were actually willing to pay people to take their oil off their hands as there were hardly any more willing buyers. All over the world traders and producers are looking for a place to put their unwanted oil. For example, in the North Sea there are vessels which have parked for days with gasoline and jet fuel with no where to go. Even in Vopak (the world’s largest oil storage firm), is saying they are at maximum capacity. And President Trump said that his administration would consider blocking oil imports from Saudi Arabia to protect the US shale oil industry. This over-supply lead to the fall in Brent Crude, as it fell more than 26% down to $18.81. This was the lowest level since 2002. And with the continued lockdown impact, it looks like it will fall even further. Brent Crude is set to crash but NOT below 0 I don’t believe for one second we’ll ever see Brent Crude’s price enter a negative territory. To explain this, we need to understand the difference between WTI oil and Brent Crude futures. With WTI oil futures, when the contracts expire (30 April 2020) they will be settled with physical barrels of oil. And so, the majority of investors, traders and market participants will not be able to handle a huge number of cargoes as there is nowhere to store the oil. In fact, they would have to pay someone just to take the oil off their hands… Here’s what Rystad, Head of oil markets at Rystad’s Energy, said in a note: “Essentially, with 108 million barrels worth of contract positions still not closed by the traders in the market, the buyers were rushing for the door to avoid taking physical delivery of crude,” When it comes to Brent Crude, it’s a whole different story when the contract expires. When the contracts expire they’ll be settled with cash rather than barrels. This means, there is no risk of the price going negative, as nobody will pay you to take cash. But it can still fall quite a bit, which the charts agree… With the daily chart of Brent Crude, we can see that since the beginning of April it’s formed a Rounding Top (Shaded area). This is a breakout pattern that resembles a small mountain… During the formation it formed a low price at $22.27 and a high price at $36.43… However, as of last week, the price broke below the low price showing that the sellers were outweighing the buyers. This means, the selling pressure is on and with the demand for oil dropping at a staggering rate, we can expect the price to continue to fall further. And when I use my High-Low calculation, we can see where the next target for Brent Crude will head. Price target = Low - (High - Low) = $22.27 - ($36.43 - $22.27) = $8.11 This means, we can expect the Brent Crude oil’s price to fall another 55% down to $8.11 in the next few weeks.
TVC:UKOILShort
by Timonrosso
Brent Crude ShortBased on current market sentiments and economic principals such as supply and demand factoring in the shock experienced by the Covid-19 pandempic. It will be a difficult time for Brent curde for the near future(3-5months) I believe. We could see WTI Crude test that famous negative future price this month but down it will in coming months. Brent more valuble and showing its endurance will see systematical decreases in the near future with supply and demand dilemma and major upside after the short term despite the relief efforts from fiscal policy and supply cuts. I've set sell positions at: 22-19,50 in the Jun Future and expecting this asset to make a run towards, 14-16 and potential upside from there onwards. Lets see what happens and let me know your thoughts...
TVC:UKOILShort
by Econeo