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Brentcrude

Brent Crude Hourly Wave Counts Suggest Drop To 18.50Brent Crude hourly chart has been presented here to have a closer look at potential wave counts since 15.00 lows. It is too early to confirm a major bottom at 15.00 but certainly a potential impulse wave might be underway. A break above 36.30 would be considered as reasonable confirmation that the trend has revered for good. At this point, Brent Crude might have produced Wave 1 around 22.50 levels. A corrective expanded flat could be unfolding with potential termination towards 18.50/19.00 levels. If the above counts are correct, it would be good to buy lower for a Wave 3 rally towards 29.00. Strategy: Build long positions around 18.50/19.00, stop at 15.00, target 29.00 and 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
Start taking ADVANTAGE of OIL now!If I were to go long, my entry would be placed at $26 as the probability of a successful rebound is high if the market closes above the high of the current candle. I’d set my stop-loss below the structural support level. If the market breaks below to prove my idea wrong, I’ll just accept it and quit with a small loss. And my profit target would be at the upper bound of the monthly support zone. That gives me a decent risk-reward ratio of 1 : 1.76. Pretty good, huh? On the contrary, I’d wait for a market retest of the structural support level to go short. Thus, my entry would be slightly below the support level. And I’d set my stop-loss at the upper bound of the monthly support zone. “Where would your profit target be?” You may ask. Given the current market outlook, I’d just leave it open for now. That yields me a risk-reward ratio of 1: Infinite, for the moment. Long or Short, what’s your take? Read the full articles on JCP fx training platform. Step 1: Download the JCP (for free) at : onelink.to/sjxych Step 2: Go to Trader Lab to read the full articles for more insights.
OANDA:BCOUSD
by Chriis_Liew
Brent Crude Fibonacci 0.382 extension is at 17.75Brent Crude might have found interim support just ahead 17.75 levels. Since WTI Crude prints 0.01 yesterday, there is only one technical level to be cleared and it is 29.11. Another benchmark for Oil is Brent Crude and we have presented a monthly log chart. Structurally Brent Crude has been in a multi-year corrective wave since 147/50 in July 2008. An A-B-C corrective wave seems to have completed close to 18.00 or might be completing around 16.00 going forward. The recent wave structure from 71.00 highs on January 06, 2020 until today's low at 18.00 is an impulse (5 waves). It has hit the fibonacci 0.382 extension around 17.75 levels which is still a valid 5 waves down. We need to see a clear break above 36.00 levels to confirm a low is in place though. Strategy: Remain flat for now. Allow a break of 36.00 levels first and then look to buy on dips. 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:UKOIL
by ExclusiveMarkets
CFDS ON BRENT CRUDE OIL - BUY Earlier today, Barclays cut its crude oil price forecasts for this year on worsening outlook driven by the raging coronavirus pandemic even as the price war between Saudi Arabia and Russia threatens oversupply in markets. According to the bank, UK Brent oil price outlook has been revised lower to $31 per barrel while WTI oil could average around $28 per barrel this year. Crude oil prices are expected to remain under pressure unless the world succeeds in containing the spread of the virus effectively. In addition, Saudi Arabia’s plans to flood markets with cheaper oil amid weakening demand is likely to add extra pressure on oil prices in the near future. According to Barclays, global available onshore storage capacity is now estimated at around 1.5 billion bpd. However, there could be an oversupply of around 5 million bpd this year, with Q2 2020 experiencing an oversupply of as much as 10 million bpd. The bank also noted that the US government’s plans to fill up its strategic oil reserves will be unable to offer support to oil producers in the country. According to data from the US Department of Energy, available SPR storage in the country amounts to less than 80 million barrels, and when filled over six months, would increase demand by just about 0.5 million bpd. This meagre amount is far less than the predicted oversupply global oil markets are set to experience this year. PERSONAL RECOMMENDATION: TVC:UKOIL BUY LIMIT 30.76 SL : 28.25 TP : 36.50 TP2 : 39.50
TVC:UKOILLong
by Lafoks
1
BRENT OIL | Bearlish scenario | UpdatingPossible BRENT oil movement based on Elliott theory and Fibonacci proportions Updating last idea ____________________________ Guys, please hit the like button, and write any comment, this will be the best thanks from your side. !!! Please, dont forget, the content on this analysis is provided for the sole purpose of assisting traders to make independent investment decisions. Do not trade this idea before you make your own analysis! !!! ______________________________
FX:UKOILShort
by MinnieTrading
4
OIL, Winter is coming...What a bloody day and more to come. A lot of people might ask why? And How That's possible? Is this a bullish sign? Are they gonna pump it out? Moon!? The answer of all of these questions are a simple "No"! But why? First, institutional moneys from both big investors and governments are moving to safe haven in order to keeping them away from loss or less Second, Some people or governments for dealing with current situation need money. So they will dump every share they have whatever it takes. They start with whatever they have more or whatever they don't need first. Oil of course, is the last thing you want to keep in Corona Virus crisis. Now what will happen? We're gonna go up for a few days for hunting some newbies, market now needs some fresh money. Then we tank down to target
FX:USOIL
by kohouooio
A clear view of Brent Crude Good evening traders, I hope all is well today I'll be taking a look at Brent crude it looks like we have broken a period of consolidation and we shall continue trending upwards I've entered a few trades on a small account I realized that I have entered a bit late but thats alright as I could see Brent crude continuing to go up from this point forward, also I personally like to wait to enter into my trades a little late to make sure that my analysis is correct. Let's see how much I could get the small account up to by the end of this week! I'll also be sure to post updates of the account by the end of the week. Please leave a like If you agree with my analysis or leave a comment with your view on Brent crude. Have a wonderful day all, and if you ever need help with forex shoot me a DM I would be more then glad to help you out! :)
TVC:UKOIL
by Shahbazalyan
🛢 BRENT OIL - Entered zone of verbal INTERVENTIONS USA&SAUIn this zone, I expect a BUNCH of bullish info-occasions into the oil market and bullish forecasts of energy organizations and OPEC. Thumb UP👍 if you agree with me! Although the United States and Saudi Arabia are already competitors in the oil market, they are in the same team in this zone and will do everything possible to prevent a strong collapse in oil prices. And if this happens, then such a failure should not be long in any case... There are 3 very important reasons for this: 1) the Saudis' budget is burning. 2) the US problem is even more serious - almost the entire oil industry is sitting on a wild leverage before banks (very large debts to banks - just a cosmic exposure)! Low oil prices = defaults from shale producers = defaults from US banks = disaster. 3) the impact of coronavirus on energy quotes can be called short-term, since factories in China are already returning to work. Technical Indicator 12H: 1) Awesome Oscillator - turned to green zone and started rise up. 2) Stochastic RSI - started to rise up from the undervalued zone. Summary: Buy on pullback around 55.15 and sell in 67 zone. Its more than 20% profit. Stop-loss could be around 53.37
TVC:UKOILLong
by Fandorinn
3