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Brentcrudeoil

Another Move Higher for Brent Crude Oil, Towards 89.25Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The commodity Brent Crude Oil (BCO) has been in a rangebound movement since mid-October 2021, with resistance around the 86.50 price level and support observed around the 83.55 price level. Expectations are for a breakout higher towards 89.25. Failure of this move will be seen if BCO breaks below 83. On the longer termed Daily chart, BCO has had quite a rally thus far, with a low around the 65.213 price level, the commodity is 31.7% higher. A change in trend will be determined if BCO were to decline below 81.693. Technical Indicators BCO is currently trading above its short (50-MA), medium (100-MA) and long (200-MA) fractal moving averages. The commodity is currently in an uptrend. The RSI is trading above 50 and there has been a positive crossover on the KST. This suggests another move higher for the commodity. Recommendation The recommendation will be to go long at market, with a stop loss at 83.00 and a target of 89.25. This produces a risk/reward ratio of 1.14 Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
OANDA:BCOUSDLong
by Ceddy86
UKOIL (Brent Crude Oil) : 1Month TFWell, as we can see, we are technically reviewing Brent oil charts at monthly timeframes. The price finally broke its 13-year downtrend last month ... (This break needs to be stabilized) Currently, the most important support range for Brent oil is from $ 72 to $ 76 ... Brent oil currently has a significant static resistance of $ 85 and we have to see if it can break this resistance after 3 years and pave its way to climb or not. ⚠️ This Analysis will be updated ... TVC:UKOIL 👤 Arman Shaban : @Ar_M_An_4 📅 02.Oct.2021 ⚠️(DYOR)
TVC:UKOIL
by ArmanShabanTrading
11
Climbing Oil Price Range 2021As we enter the 4th quarter of 2021 we see that some countries are imposing strict measures to curb Covid-19. At the same time, restrictions are loosening. thus, allowing economies to demand more oil to fill the need for increased economic activity. We can see that oil has remained in a steady climb with price making small fluctuations. But the trend is bullish as economic activity picks up as travel restrictions are loosened. As can be seen in the chart, there are events that effect the oil price like rebel strikes against Saudi oil facilities. Also, China has added extra inspection measures at its ports which affected the oil price negatively. I see oil ascending further as global economic activity picks up and restrictions loosened. Disclaimer: There are amateur opinions.
TVC:USOILLong
by baronbloe
Brent Crude Oil 1-day classic patternsQ: What has the highest probability of occurring? Since February 2021 price has been stabilising on $65 per barrel. There is a combination of 2 classic patterns forming at 65.00 support. The inverse head & shoulders, which is in the process of forming the right shoulder, is currently invalid. This pattern projects 85.25 as the target. The double bottom, having recently tested and rejected 65.00, would need to breakout from 76.50 to be validated. This pattern projects 52.00 as the target. Objectively looking at 65.00 support the two high volume bars appear to be putting the weight in favour of the formation of the double bottom following the ~15% correction. Since the double bottom is not validated so the current position is neutral with a bias in favour of the uptrend continuing. It is worth paying attention to the high of the left shoulder at ~72.00 and how the bulls and bears interact as validation of the double bottom is required at 76.50
OANDA:BCOUSD
by xciiitradingco
💌 BRENT - Inflation and Geopolitics 🕊️🌎''One way to control inflation is to have cheap Oil around'' the Fxprofessor News: Brent crude oil price down below $67 per barrel on London’s ICE first since May 24 The price of WTI oil also went down by 2.52% MOSCOW, August 19. /TASS/. The price of futures contracts of Brent crude oil for October 2021 delivery went down by 2.18% on London's ICE on Thursday to $66.99 per barrel, diving below $67 per barrel for the first time since May 24, according to the trading data as of 10:00 am Moscow time. As of 10:25 am, the price of Brent oil was down by 2.11% compared with the previous closing at $66.79 per barrel. Meanwhile, the price of WTI oil was down by 2.52% at $63.53 per barrel. The MOEX Index was down by 1.35% at 3,872.18 points, while the RTS was down by 1.74% at 1,645.99. The dollar’s exchange rate was up by 0.45% at 74.14 rubles, while the euro’s exchange rate was up by 0.09% at 86.55 rubles. Geopolitics: If prices of Oil and Natural Gas are TOO high, Russia is becoming TOO dangerous (in the eyes of Americans, not in my eyes. In my eyes Russia and America should be best friends and fix this planet💌☮️🕊️🌎). -Russia is the world's largest producer of crude oil (including lease condensate) and the second-largest producer of dry natural gas. Russia also produces significant amounts of coal. - In early June, when Brent climbed above $70 per barrel, Russian Deputy Prime Minister Alexander Novak said the oil price reflected the balance of supply and demand and was “good enough” for Russia. Tell me what you think. the FXPROFESSOR
TVC:UKOILShort
by FX_Professor
3
Breaking: The OPEC report is issuedOPEC monthly report was issued a few minutes ago, and the report was not positive for OPEC+ and the oil-producing countries within the group, led by Saudi Arabia. OPEC kept its forecast for oil demand in 2021 unchanged at an increase of 6 million barrels per day, bringing the average to 96.6 million barrels per day, and also kept its forecast for the growth of oil demands in 2022 by 3.3 million barrels per day, bringing the average production to 99.86 million barrels per day. While OPEC+ raised its expectations for an increase in the production of oil-producing countries outside the group by 840 thousand barrels per day, to reach an increase of 2.9 million barrels per day, with a total average of 66.9 million barrels per day in 2022. It also raised its forecast for the production growth of oil-producing countries outside the group in 2021 by 270,000 barrels per day to reach 1.1 million barrels per day, with a total average of 64 million barrels per day.
TVC:UKOIL
by basembitar
Technical Analysis: Brent oil bulls aren’t out of the woodsBrent oil struggles to keep bounce off 200-SMA above $76.00 as sellers attack 50-SMA amid early Monday. However, MACD is about to positive while RSI is strong as well, not to forget the black gold’s sustained trading above the key SMA. Hence, oil buyers are bracing for a leap towards the monthly resistance line around $79.00, which in turn will refresh the multi-month high. In doing so, the latest high surrounding $76.30 and $77.50 may entertain energy optimists. Should the Brent bulls keep reins past $79.00, the $80.00 psychological magnet will be a tough nut to crack for them. On the downside, a clear break of $75.80, comprising 50-SMA, will direct short-term sellers towards 200-SMA support of $73.38. However, any further weakness needs to conquer a horizontal area from June 03, around $72.10, to recall the oil sellers. Following that, May 18 swing high near $70.30 may offer an intermediate halt during the fall to the $70.00 threshold and $69.00 support levels. Overall, Brent oil remains on the bullish trend and any pullback above $72.10, can be considered a buying opportunity.
TVC:UKOILLong
by MTradingGlobal
15% Move for Brent Oil Brent Oil trading within the Apex we are soon to get a breakout or breakdown . As detailed on the chart we can see that the .75 Fib has been a Strong support for Brent since December 2020 and is still respected . With that said we have a measured move of around 15 percent for this to extend its uptrend into the 80 dollar zone or retreat back to the 56 Dollar level where we can expect support to hold . Like and Follow for Daily Analysis , signals and to see or hear my perspective . Know your Invalidation and Trade With a Plan . PLEASE NOTE THIS PERSPECTICE IS BASED UPON TECHNICAL ANALYSIS ONLY I DO NOT FOLLOW ANY GEO POLITICS THAT OF COURSE CAN EFFECT THE OUTCOME SHOW ME THE CHART AND I WILL TELL YOU THE NEWS IS HOW I WORK
CAPITALCOM:OIL_BRENT
by SJTRADESFUTURES