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Brentcrudeoil

WTI oil. Turning Up now. Be mindful of CAD pairsTrading Criteria: Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow border boxes), or five daily candles for solid yellow boxes. If you're a pattern trader or pinbar trader, this might be useful here. Wait for the breakout of the 4hr. consolidation or daily consolidation from red border boxes to take the trade. Red border boxes are the High/Low of a consolidation period inside the consolidation zone. I usually aim for 80% of the weekly ATR (or monthly ATR for yellow solid boxes) taking profit but not always at the next yellow box. I place my stop loss above/below red border box. *These zones, with the inclusion of price action described above, have remarkable accuracy. Yellow border box: weekly consolidation zone Yellow solid box: monthly consolidation zone Red border box: High/Low breakout box (5 minimum candles) Grey solid box: monthly grid block
TVC:USOILLong
by ComteSt.Germain
1
Break above neckline may see 'Oil Rise as high as $74'Trade set up ‘Buy long’ on daily open with caution as current price closes above the 10day EMA with stops below the recent daily close or those with higher risk appetite, a close below the 10day EMA. Target levels of 64.30 followed by the 50% retracement of the previous major move around $68.30 and looking to add to our position as price make a new higher-high above $63.00. Why we like it With recent US government sanctions imposed on Venezuelan state-owned oil firm PDVSA, we saw a strong rise in oil prices which continues the pressure from the bulls looking to send oil higher. Technically speaking, recent MACD crossover and oversold RSI may be an early indication of a change in trend as price looks to have found support with a potential ‘Head & Shoulder pattern’ also in play. One could argue a break above the neckline could see oil rise as high as $70-$74 with the shorter-term outlook ranging between $64.30 and $68.60. That said, a close below the 10Day EMA and furthermore, a break below the recent support level could see the end of this short term rally. Disclaimer. Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone
BRENT.CMD/USD 4H Chart: Breakout occursBullish sentiment has been dominating the BRENT.CMD/USD since the end of December. The commodity reversed from the lower boundary of a dominant descending channel pattern at 50.31 on December 26 and followed by an upside wave. The Brent crude oil breached the upper boundary of the dominant ascending channel at 58.49 during yesterday’s session. Given that a breakout had occurred, it is likely that the crude oil prices will continue moving north and potentially targeting a resistance cluster formed by the combination of the weekly and the monthly PPs at 61.90.
TVC:UKOIL
by UnknownUnicorn890690
UKOIL Brent Crude Oil Long-Term ForecastSo, here we go again with the brent crude oil forecast: Scenario 1: Oil prices could reach highs of up to $83 a barrel, which represents a resistance level formed by the descending upper trendline. Scenario 2: Oil prices could fall even lower to about $30 a barrel, which represents a 100% retracement of the previous wave. That level is also in the support zone formed by the previous lower lower. My verdict: Price is going up to $80 a barrel
FX:UKOILLong
by munyaelliott
OILOil retracement with fib level/structural confluence ***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
TVC:UKOILLong
by algocowboy2030
BRENT CRUDE TO RETRACE FURTHER IN WEEKLY UPTRENDWe have already had some great shorts on Brent of the past few weeks and now we have just cleared out the support of $80.00 we can continue to look for the short positions. We have to be aware that the weekly chart is still in an uptrend and until its breaks the weekly lows of $70.34 we should be cautious in holding long term short positions. Looking at the chart we could see the BRENT CRUDE OIL market retracing down to the 38.2 fib and if so we could look for further short trades down to this point if the market on the 4hr timeframe can pullback into the key 4hr structure lows of $79.00.
TVC:UKOILShort
by BlueberryMarkets