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U.S. DOLLAR / BRENT CRUDE OILU.S. DOLLAR / BRENT CRUDE OILU.S. DOLLAR / BRENT CRUDE OIL

U.S. DOLLAR / BRENT CRUDE OIL

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Overall Bias: Bearish with the potential for a breakdown.Instrument: Brent Crude Oil (UKOIL) Current Price: $73.66 Overall Bias: Bearish with the potential for a breakdown. Key Observations: 1. 12-Month Chart: • Pattern: The chart is forming a Head and Shoulders pattern, which is a classic reversal pattern suggesting a potential significant downturn. • Neckline: The neckline is around the $73.67 level, which is where the current price is hovering. • Target: The measured move from the head and shoulders suggests a potential decline towards $42.00 if the neckline breaks convincingly. • Fibonacci Levels: The 0.236 Fibonacci retracement at $68.20 is the immediate support, with more substantial support around $58.19. • Resistance Levels: Resistance levels are at $84.00 (0.5 Fibonacci retracement) and $94.40 (0.764 Fibonacci retracement). • RSI: The RSI at 59.28 indicates the market is approaching neutral but with a slight bearish bias. 2. 1-Month Chart: • Price Action: The monthly chart shows a downward trajectory after failing to hold above $135.00, with the current price around $73.67. • Support Levels: Immediate support is at $56.42, corresponding with prior lows. • Resistance Levels: Key resistance is at $135.00. • RSI: RSI at 53.66 is neutral but leaning towards bearish territory, with the market potentially heading lower. 3. 1-Week Chart: • Price Action: The weekly chart also reflects a bearish outlook, with a key failure to maintain levels above $121.83. • Support Levels: Key support is around $84.16 (0.236 Fibonacci retracement). • Resistance Levels: The $102.99 level (0.618 Fibonacci retracement) is a critical resistance zone. • RSI: The RSI at 45.51 suggests bearish momentum is gaining strength. • MACD: The MACD shows bearish crossover, signaling the potential for further downside. 4. 1-Day Chart: • Price Action: The daily chart reveals consistent downward pressure with the price breaking below $86.67, now testing the $73.66 level. • Support Levels: $73.66 is the immediate support; if broken, the price could head towards $71.10. • Resistance Levels: Resistance levels are at $82.54 and $86.67. • RSI: The RSI at 44.63 is bearish, indicating continued selling pressure. • MACD: The MACD is showing a bearish crossover, with no signs of reversal yet. 5. 4-Hour Chart: • Price Action: The 4-hour chart shows a clear downtrend with multiple failed attempts to reclaim higher levels. • Support Levels: Immediate support is at $71.10, with potential further downside. • Resistance Levels: Resistance at $79.39 and $86.67. • RSI: RSI at 34.85 is approaching oversold territory, suggesting that while bearish momentum is strong, a temporary bounce could occur. • Volume: Volume indicates increasing selling pressure, which supports the bearish case. 6. 1-Hour Chart: • Price Action: The hourly chart indicates aggressive selling pressure, with the price failing to hold above $91.79 and falling towards $73.66. • Support Levels: Key support is at $73.60. • Resistance Levels: Immediate resistance at $79.39. • RSI: RSI at 24.28 indicates that the market is oversold, so a short-term bounce could be expected, but the overall trend remains bearish. • MACD: The MACD is deep into bearish territory, confirming the downward momentum. 7. 30-Minute Chart: • Price Action: The 30-minute chart shows a steep decline, with no significant support levels being held. • Support Levels: The $73.80 level is being tested as a key support. • Resistance Levels: Resistance at $78.28 and $82.67. • RSI: RSI at 26.86 is deeply oversold, indicating a potential for a brief relief rally, but the larger trend remains bearish. • MACD: The MACD is in strong bearish territory, reinforcing the likelihood of continued downside pressure. Strategy Recommendation: Primary Bias: Bearish • Short Entry: Consider shorting if the price breaks and holds below $73.60 with a target towards $71.10 and potentially lower to $68.20. • Take-Profit Levels: • First Target: $71.10 (immediate support). • Second Target: $68.20 (0.236 Fibonacci retracement level on the 12M chart). • Third Target: $61.73 (longer-term support). • Stop-Loss: Place a stop-loss above $79.39 to protect against a bullish reversal. Alternative Scenario: • Long Play: If the market holds above $73.66 and shows signs of strength, consider a speculative long with a target of $82.67. • Long Entry: Enter above $78.28 with a stop-loss below $73.60. • Profit Target: $82.67, with a stretch target at $86.67 if bullish momentum resumes. Risk Management: • Position Sizing: Use conservative position sizing due to the high volatility in oil prices, risking no more than 0.5% to 1% of capital per trade. • Adjust Stops: Consider using a trailing stop to lock in profits as the trade moves in favor. Conclusion: The Brent Crude Oil market is showing significant bearish signals across multiple timeframes, particularly with the Head and Shoulders pattern on the 12-month chart. Short positions are favored, especially if the price breaks below the critical support at $73.60. However, traders should be aware of the potential for a short-term bounce due to oversold conditions on lower timeframes. Conservative risk management and close monitoring of price action are crucial in this volatile market environment.
TVC:UKOIL
by stonaola1
2
Global Oil Analysis by the Mallicast Team:Following the recent decline and negative price movements in the global oil market, the price of oil has approached a key liquidity zone. The Mallicast analytical team, through careful examination of price charts and market behavior, has concluded that this area could act as a significant support level and potentially correct the current downward trend. As the price reaches this liquidity zone, there is a likelihood of a rebound, especially if both fundamental and technical factors support this recovery. Investors should pay closer attention to the upcoming market movements, as any changes in market conditions could provide new opportunities for entering trades or adjusting trading strategies.
FX:UKOILSPOTLong
by mallicast
BRENT Crude Oil Bullish robbery PlanMy Dear Robbers / Money Makers & Newbies, This is our master plan to Heist BRENT Crude Oil based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low Stop Loss : Recent Swing Low using 2h timeframe Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.
BLACKBULL:BRENTLong
by Thief_Trader
BRENT CRUDE OIL (BCOUSD) POTENTIAL LONG OPPORTUNITYHey everyone hope you are doing AMAZING! Just wanted to get on here and do a simple post on an potential opportunity I see with brent crude oil! Buckle your seatbelts and let's dive in! OK so first off higher timeframe. Like I'm talking monthly(s) & weekly you can see that price has kind of been in this wedge patter getting squeezed for the last like little over a year! So this has held price for a long time which is definitely significant and probably going to indicate at some point soon market sentiment (supply or demand) extreme will form to either push price up into monthly historical supply levels or down into monthly historical demand levels...EITHER WAY...I am in the next couple of weeks (2-3 most likely) expecting a push to the upside. FIRST THING that gives me this conviction is the reaction off of the bullish trendline within this weekly/monthly wedge pattern. SECOND THING is the fact that on the weekly timeframe price left a large wick to upside showing me that it may come fill that price. THIRD THING is that price is pulling into a newly formed daily/4H demand and going to watch the momentum(interest) of the sellers bringing it into the level. We obviously want to see weak sellers if we are ultimately looking to buy and would really like to see that strong response from the buyer as well once it comes into that zone! OK so I think this is the extent of how much I want to break this down hope you guys got some value in this if you did please boost the post and follow my page for more accurate and insightful breakdowns!! Cheers!
OANDA:BCOUSDLong
by JosePips
Brent Rises Today on Middle East Supply FearsToday, Brent crude oil prices rise on growing supply concerns in the Middle East, especially in Libya and Iraq. Brent futures for October delivery are up 0.5%, trading at $80.33 per barrel, while the November contract is up 0.4% at $79.16. The chart shows the current checkpoint (POC) around $83, with the RSI at 50.03%, signaling balance and possible moves towards the mid-range soon. The upward pressure on Brent is due to the significant reduction in production in Libya, where more than half of its capacity is out of service due to political conflicts, with losses of up to 1 million barrels per day. Iraq also plans to reduce its production after exceeding its OPEC+ quota. However, despite these rises, Brent is still on track to close August with its second consecutive monthly decline, affected by weak global demand, especially in China. It would not be strange to see the price stagger towards the current support zone of $71.47 if demand does not follow through heading into the fall. Ion Jauregui - Analyst ActivTrades. ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
ACTIVTRADES:BRENTLong
by ActivTrades
Volume Profile Part 3: Pockets of Hot AirWelcome to the final part of our three-part series on Volume Profile Analysis. In the previous segments, we covered the essentials of Volume Profile and techniques for uncovering hidden market levels. In this final instalment, we’ll explore how to trade breakouts using the concept of pockets of hot air—areas where the market moves efficiently from one high-volume zone to another. The Concept of Pockets of Hot Air The idea behind pockets of hot air is rooted in market efficiency. An efficient market continually seeks equilibrium by moving price to levels with the highest trading activity. Essentially, the market will travel from one area of high participation to another, bypassing lower-volume regions where price acceptance is less established. Pockets of hot air refer to the price spaces between these high-volume zones where the market has not yet formed strong consensus. These areas can act as rapid transit zones where prices move quickly as the market transitions from one high-volume area to the next. By identifying and trading these transitions, traders can capitalise on swift price movements. Technique: Trading Breakouts Between High-Volume Zones Step 1: Map High-Volume Areas with the SVP HD Indicator • Apply the SVP HD Indicator: Start by applying the Session Volume Profile High Definition (SVP HD) indicator to an hourly candle chart. This indicator will help you identify high-volume areas by showing the concentration of trading activity within each trading session. • Identify High-Volume Zones: Observe where multiple Points of Control (POCs) cluster across various sessions. These clusters indicate areas with high trading volume and are your high-volume zones. Brent Crude with SVP HD Indicator Hourly Candle Chart Past performance is not a reliable indicator of future results Step 2: Look to Trade Breakouts Backed by Technical Catalysts • Remove SVP HD for Clarity: To focus on trading opportunities, remove the SVP HD indicator from your chart. This will help you better visualize price action and technical patterns without the clutter of volume data. • Identify Breakout Patterns: Look for technical patterns that signal a breakout, such as a symmetrical triangle in the example below. Brent Crude Hourly Candle Chart: Triangle Consolidation Pattern Within High Volume Zone Past performance is not a reliable indicator of future results Step 3: Trade the Breakout • Entry: Trade the Breakout: Enter your trade when the price breaks out of the pattern and moves towards the next high-volume zone. This approach leverages the market’s tendency to move efficiently between high-volume areas. • Set an Initial Stop Loss: For risk management, place an initial stop loss below the lows of the current high-volume zone. This protects your trade in case the market reverses before reaching the next high-volume zone. Brent Crude Hourly Candle Chart: Triangle Breakout Past performance is not a reliable indicator of future results Brent Crude Hourly Candle Chart: Target Hit Past performance is not a reliable indicator of future results Conclusion We hope our mini-series on Volume Profile Analysis has sparked new ideas and insights for your trading strategies. By focusing on the distribution of trading volume at different price levels, Volume Profile Analysis allows you to see beyond traditional price action, identifying hidden support and resistance levels that aren’t immediately obvious. Mapping high-volume zones using indicators like SVP HD and VRVP can help uncover key market areas where significant trading activity occurs. Understanding how markets move efficiently between these zones offers valuable breakout opportunities, especially when supported by technical catalysts. By incorporating these methods into your trading routine, you can improve your decision-making, anticipate market moves more accurately, and manage risk effectively. Thank you for joining us on this journey through Volume Profile Analysis—here’s to more informed and successful trading! Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83.51% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
CAPITALCOM:OIL_BRENT
by Capitalcom
Brent Crude Oil Bounces Off Key SupportBrent Crude Oil Bounces Off Key Support Analysing the oil market on the XBR/USD chart on 20 August, when Brent was trading around $77 per barrel, we: → Identified resistance around $81.60; → Noted that the price was approaching a key support level (shown by the yellow line), which has been in effect for several months; → Speculated that bears might attempt to break the August low. This attempt by the bears can be seen in the price drop to $75.55 on 22 August. However, the August low was not breached, as the yellow support line had an impact on the price—Brent crude oil reversed upwards (indicated by an arrow). As shown on the XBR/USD chart, Monday's trading opened with a bullish gap, and the price is near $79 per barrel. The price increase was supported by news of a potential escalation of conflict in the Middle East. According to Reuters: → On Sunday evening, Israel issued new evacuation orders for the central part of the Gaza Strip, forcing more families to flee; → Israel and Hezbollah exchanged heavy rocket fire; → Hezbollah's leader mentioned the possibility of further strikes on Israel. From a technical analysis perspective of the XBR/USD chart today: → The price is forming a downward channel (shown in red) and is approaching its upper boundary, which could provide resistance; → Resistance could also be expected at the psychological level of $80 per barrel. This leaves some room, albeit limited, for further growth. However, bulls will need to demonstrate their persistence when they encounter a block of resistance around the $80 level. It is possible that the RSI may be in the overbought zone at that point. Whether Brent crude oil can break through the upper boundary of the downward channel in the coming days will largely depend on the nature of the news from the Middle East. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
1
UKOIL / BRENT / CRUDE OIL Bullish Heist Plan To Steal MoneyMy Dear Robbers / Traders, This is our master plan to Heist UKOIL based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Stop Loss : Recent Swing Low using 30M timeframe Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style
FX:UKOILSPOTLong
by Thief_Trader
BRENT Crude Oil Robbery Plan on Bullish DirectionMy Dear Robbers / Traders, This is our master plan to Heist BRENT Crude Oil based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low Stop Loss : Recent Swing Low using 2h timeframe Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style
OANDA:BCOUSDLong
by Thief_Trader
Bullish bias on Brent CrudeThere was a 2H Demand at price 76.00 since the market was on a downtrend with multiple breaks of a swing low, I was cautious in immediately bidding at 76.00 I waited for that demand to be valid and then the 1H supply to be invalidated to give me more bias to go long on Brent Crude, a Break of structure occurred price moved up till 78.62 and the previous supply was now acting as a potential Bullish breaker. I'm anticipating a retracement back to77.90 and then bulls till the previous tested 2h supply at 81.73 as my target
TVC:UKOILLong
by Nigel-K-W
1
What does OIL (BRENT PETROL) mean for the world economy?#BRENT Oil (Petrol) 1W chart; What does oil mean for the world economy? Oil is critical to the world economy and is considered the basic energy source of modern industrial societies. And then there are the quarterbacks. Market makers, a term we hear a lot in the crypto space. These and similar important charts cannot be moved by ordinary people. They cannot afford it. Only the most important countries in the world can do it. So what usually happens when these charts come to trend breaks? While situations such as war, geopolitical tensions, chaos, finding a vaccine for an existing virus move the chart upwards, Situations such as viruses, recessions, economic depressions also move the chart downwards. Significant chart movements are only possible with these and similar news. Conscious or unconscious. If you think there is anything unconscious in the world, I can't say anything about it. The trend line in the middle is important. I have indicated the details of the important breaks and critical intersections on the chart. But there is one place I would like to draw your attention. Russia-Ukraine war; The chart is rising sharply with pre-decline gapped openings and momentum candles. What happens in the world in such a situation? Energy, industrial production costs, important basic services such as electricity, heating, transportation, raw material prices would increase. Global economic slowdowns. Geopolitical tensions increase. In short, inflation would be fueled. Just like the economic crisis that would be caused by a sharp fall in the oil prices of the countries that depend on oil for their economies. Then energy companies cannot make a profit. Labor prices would fall, companies would go bankrupt, unemployment would rise. In short... Inflation was deliberately and willfully fueled. Because it was time to start raising interest rates. The world was not ready for that yet. With the war, the chart went up 40% in 2 weeks. I am not talking about any coin in crypto, I am talking about the oil chart increasing 40% in such a short time. You all know the scenario afterwards. The top of the chart is where the red needle is. March 2022. The Fed has officially started the cycle of rate hikes with 25 basis points.
VELOCITY:BRENT
by ugurtash
Brent Oil Price Drops Over 3.5% in Two DaysBrent Oil Price Drops Over 3.5% in Two Days As indicated by the XBR/USD chart, the price per barrel opened at $80.28 on Friday and closed at $77.27 on Monday. Moreover, early Tuesday trading also shows a downward trend. Bearish sentiment in the market is being influenced by geopolitical factors, particularly the easing of tensions in the Middle East. According to media reports, Israeli Prime Minister Benjamin Netanyahu has accepted a proposal aimed at resolving disagreements between Israel and Hamas. Additionally, ANZ Bank analysts point to a reduction in petrol consumption in China due to the increasing use of electric vehicles. Could Brent crude oil prices continue to fall further? Technical analysis of the XBR/USD chart indicates that the price is approaching a key support level (shown in yellow) that dates back to 2023. This raises concerns, especially given the bearish indicators: → The recovery from B to C has retraced approximately 50% of the A to B downward impulse; → The formation of peak C has seen false bullish breakouts of previous local highs; → The bearish candles on Friday and Monday have broad bodies and closed near their lows, indicating a lack of demand (or effective selling pressure). Thus, it is reasonable to assume that the bears might attempt to breach the critical support level, potentially leading to a new low for August. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSD
by FXOpen
3