Brent Crude Oil in Next DecadeBrent Crude Oil has formed a diametric pattern and will see the targets which is shown in this analysis.
Brentcrudeoil
BCO USD SELL (BRENT CRUDE OIL - US DOLLAR)Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current levels for sell.
M15 Comparative Analysis : US Oil ↔ UK Oil (with 4 indicators)Here, a comparative analysis of US Oil (West Texas Intermediate)
and UK Oil (Brent) on a 15-minute chart (M15).
US Oil on the left and UK Oil on the right.
The four indicators are the main indicators used at ADX-BRIEFING.
- Top indicator (directly below price window): modified MACD
- 2nd indicator: modified ADX
- 3rd and 4th indicators: modified momentum indicators.
The modified MACD indicator (on both markets) has been in the BUY zone
since November 16, 2020 and is still in the BUY zone as of now.
The modified ADX indicator is in a downtrend and this means that right now,
we have a consolidation.
We are waiting for a turn-around on this indicator which would indicate
that we have a new significant move on the way.
As of now, this is a waiting period, when considering this higher 15-min time-frame.
Indicator #3 on both markets, is still in the BUY zone
and now is a risky time for a long-term short trade.
Indicator #4 is in the neutral zone between the BUY zone and the SELL zone.
Conclusion:
On the 15-minute time-frame, there is no clear signal for either a BUY trade or a SELL trade.
I will add, in the comments section, more detailed analysis, related to the time-frame we are actually using for trades.
François Normandeau
Institutional Research Director
ADX-BRIEFING
This post can also be found on:
www.adx-briefing.com
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 48.95, 54.40, 58.65 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 69.
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Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 48.95, 54.40, 58.65 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 69.
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BRENT TARGETSFinal movements before Brent correction phase.
Last uptrend target is 49.5. Then road to ~33.5.
BUY OIL (Brent)Oil prices are climbing to the Upside as the positive developments for a Vaccine that could be rolled out as early as next month, is extremely positive for the demand outlook for Oil in 2021.
We look at entry price, stop loss and upside targets.
One month ATR Stop Loss included.
BCO USD SELL (BRENT CRUDE OIL - US DOLLAR)Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current levels for sell.
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
While the price is below the resistance 46.50, beginning of downtrend is expected.
We make sure when the support at 36.95 breaks.
If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 45.44 on 11/11/2020, so more losses to support(s) 41.70, 40.00 and minimum to Major Support (36.95) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 54.
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Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
While the price is below the resistance 46.50, beginning of downtrend is expected.
We make sure when the support at 36.95 breaks.
If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 45.44 on 11/11/2020, so more losses to support(s) 41.70, 40.00 and minimum to Major Support (36.95) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 54.
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UKOIL (BRENT) SELL PLANIf you found my analysis useful, you can support it with your likes and comments.
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
41.70 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 41.70 is broken.
Technical analysis:
The RSI bounced from the resistance #1 at 55 and it prevented price from more gains.
A peak is formed in daily chart at 43.65 on 10/15/2020, so more losses to support(s) 36.95, 33.80, 19.40 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 32.
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Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
41.70 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 41.70 is broken.
Technical analysis:
The RSI bounced from the resistance #1 at 55 and it prevented price from more gains.
A peak is formed in daily chart at 43.65 on 10/15/2020, so more losses to support(s) 36.95, 33.80, 19.40 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 32.
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Oil looking super interesting Will we get a continuation to the downside or will we have an impulse to the upside followed by a continuation for further upside momentum
Brent crude. Today's matrix for intraday trading.
For timeframes m5. Detailed levels for buy / sell. On the screenshot below 🠗🠗🠗
ibb.co
Hi everyone. My analysis done for my main timeframe m5. I start from higher timeframes D1, H1 and move down to lowest m5.
Futures contract for Brent crude , London exchange ICE 12-20
My trading is based on market phases by Wyckoff.
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
Technical analysis:
A peak is formed in daily chart at 44.15 on 09/18/2020, so more losses to support(s) 36.95, 33.80, 19.40 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 34.
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Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
Technical analysis:
A peak is formed in daily chart at 44.15 on 09/18/2020, so more losses to support(s) 36.95, 33.80, 19.40 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 34.
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
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. . . . . . . . . . Drop some feedback below in the comment!
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💎 Want us to help you become a better Forex trader ?
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Trade well, ❤️
ForecastCity English Support Team ❤️
Brent Crude Oil Ascending Triangle Pattern ?Ascending Triangle >> It is not an Investment Advice. It is for Tracking Purposes
Good Luck :))
BCO USD SELL (BRENT CRUDE OIL - US DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
UKOIL BRENT Nose-dive to $32 and beyond?After the 2h 50 EMA crossed below the 200 EMA first time since May 05, 2020,
the 3h 50 EMA crossed below the 200 EMA on Sep 04, first time since May 07, 2020.
What exactly can stop oil from going diving back to low $30's ? More cuts from OPEC?
Winter coming to the Northern Hemisphere? Miracle vaccine ?
Doubt it. Let's see...
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
While the price is below the resistance 46.50, beginning of downtrend is expected.
We make sure when the support at 40.00 breaks.
If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 39.56 on 09/14/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 52.
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