Resistance & Support levels for #Brent_OilIf the Brent Oil breaks the region of 60-62 (an authentic support region)... it can visit the region of 49-52.
Brentcrude
USOIL to touch 59.50 and UKoil follow the same long trend
Why this is considered for Long :
1. As per the volume the higher volumes are seen in the chart.Volumes are growing
2. As per the LongBuyLongSellIndicator ,Strength-meters(1 2 3 P D ,Up/dn, PSAR,MA Green Red Line, Red STAR, yellow Star,Green Early Entry stars) minimum of numbers of strength-meters lined up in a row /within two candles that is added advantage for the entry.
3.BackGround color informs it is good to enter at this price.
4. As per the LongBuyLongSellIndicator ,The candle color transition change indicator this is the time to go for entry.
What is the target : close the target @1.5% of 50% number rest in higher numbers.
what will be the stop loss: The stop loss shall be high of previous candle for short /low for the long entry.
TVC:UKOIL TVC:USOIL
Brent Crude/UKOIL heads south 5/22/2019Media reports that "bearish EIA data" is responsible for the decline in US and and UK oil. May be but whatever
The way I see it is after that news, there was a short signal. I was already in, myself, and this just escalated my position.
I like trading both TVC:USOIL and TVC:UKOIL
Have any insights, suggestions or oil trading tips? I'd LOVE to hear them! Seriously. Comment below and teach me and the community.
Oil - Brent - UK OIL - LongAfter taking profit at 72 and 70 on our recent short I'm now actively looking to go long from 70.80 so I have to wait for a pull back before entry.
Although it has been a bank holiday I still feel the outside bar is valid, showing strong rejection from the lower BB.
Entry 70.80
Stop 68.50
TP 75
TP2 79
VIDEO ANALYSIS: BRENT CRUDE SHORT TO 68.50In this video update, we take a look at a swing trading opportunity on Brent Crude Oil
as price breaks through a counter-trend trendline support. If price pulls back to 72.10
we can look for further shorting opportunities down to the 161.8 Fib extension.
oil is prices are being manipulated. The trump administration claim they are for low oil prices but in reality they are for higher oil. Look for a break out to HH. Demand is low so there is nothing driving the price up apart for instability in the oil producing countries. And who do you think is behind this? This time it is not about stealing oil, its about crippling
their infrastructure so the USA becomes the worlds largest exporter.
Brent Crude OutlookBrent Crude Seems to have entered an upper range consolidation and might Move in the same range for few weeks. Bulls have definitely lost momentum this time and might head to Accumulation considering the highly over bought nature of crude. The Non stop rally has however disappointed the Bears which will try their level best to bring crude down on any break in short term Support levels. However i am of strong view that the stance on Brent is Neutral for weeks Ahead.
Thanks
Dr Idrees Arafath
EURCAD. Sell now.
Note: this is 3rd attempt to sell. Second attempt I posted was invalidated. It did not breakout of consolidation period (red box).
Trading 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 a significant 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)
Either Stocks Crash, or Oil RalliesWe are basically exactly where we were at in October 2018. About the same things for US equities. But why the divergence with US equities outperforming oil? Look what happened last time stocks become too zealous in January 2018. Correction downward to a near parity in percentage gains. Either stocks are going to readjust or oil is just going to go crazy in the next few weeks. My question is, where is the conviction, where is the demand (weak EU, weak China, weak EMs) and what are the fundamentals driving markets forward? I'm really opened, but color me skeptical.
EURCAD. Turning Down now. Second chance to get in. Trading 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 a significant 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)
Buy Brent. Short SL and Long TPOpen Buy Order on Brent - 69.77
TP - 71.85
SL - 69.20
RRR 1:3.65
Good RiskRewardRatio, good SL and good TP shows this buy order very interesting.
BRENT.CMD/USD 4H Chart: Reaches near $70The Brent crude oil price reached near the $70 mark on Wednesday. The increased was due to the US sanctions against Iran and Venezuela crude oil exports and the OPEC supply cuts.
As for the near future, it is likely that the BRENT.CMD/USD pair makes a brief retracement down towards a support level formed by the 50-hour simple moving average at 67.93.
Meanwhile, technical indicators demonstrate that the commodity could continue to maintain the medium-term ascending channel pattern during the following trading sessions.
Brent Crude Oil - Shorting opportunityBrent Crude Oil does not seem to have the support it needs to make the push higher up from the 4H chart. MACD 8H is making lower lows as well.
As long as the 4H 50 EMA holds strong as resistance, the move further down is active.
First TP is at Fib Extension 1 which is 64. If prices still aren't able to find support at that price, then sell further till 1.618 (62)
Brent Pullback has happened, now it's time to riseAbove 65.05 Brent oil is very strong and might continues to move upwards.
Blue channel is still valid so don't be afraid of pullbacks.
BRENT.CMD/USD 4H Chart: Weekly overviewThe Brent crude oil prices have depreciated about 4.93% against the US Dollar during the last week. The pair breached the lower boundary of an ascending channel pattern at 64.63 on Tuesday.
The BRENT.CMD/USD pair is currently trading near a resistance cluster formed by the weekly S1 and the 50-hour simple moving average at 66.58.
If the commodity passes the cluster as mentioned earlier, buyers could push the pair towards the weekly R1 at 67.94.
Although, if the resistance line holds, a southern breakout is likely to occur during the following trading sessions.
Another sell order to BrentFirst sell order was opened on 01-mar-2019
I see Brent going down few next days. So lets make duplicate sell order on it.
Sell - 65.70
SL - 66.40
TP - 60.58
RRR - 1:7
Of course it has smaller TP with smaller RRR. I make close order manually.
Crude Oil 63?Decembers ascending trendline from the end of 2018 as you can see price has closed below it, I can see consolidation within the 4hr range and support. (green)
With price below this trend, along with the strong 65 area, the bottom of our macro range previously a support, now becoming resistance, i can't see this rallying further.
I feel there is too much compression of resistance above the price.
Ending the last 4hr bar with a hammer/pin is a decent sign also of confirmation
15minute has retest the trendline previously mentioned and already rejected off during the last few hours of trading last week.
Brent Crude Pullback Buy Trade H4After reaching multi-month highs and following Trump's tweet on OPEC, oil fell $64.36 and seems to be completing a pullback we forecasted earlier in our analysis. The commodity is now trading close to the lower rising channel boundary, supporting our long view.
The inverse SHS pattern has already been triggered and projects a target of around $76.xx. More risk-averse traders could aim at the upper rising channel resistance ($73.xx).
Will this Doji put an end to the #oil rally?We decided to analyze the daily graph of oil as we found an interesting technical model called-Doji, What Does a Doji Tell You? analysts interpret this as a sign of reversal. So our recommendation is Sell position
We also added the Fibonacci Retracement to know where we were going
Sell Brent (oil)
Entry Price: 66.30
Stop loss: 67.30
Take Profit: 65
