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Brent

📈BRENT 08/12/2022: strive upward❗️📈 Priority direction : Up . 📝 Description: Brent crude is currently trading near the POC (point of control) of the previous week and it is not surprising that buyers did not pass this barrier on the first attempt. It may take several such attempts, but most likely the situation will develop in favor of buyers and the instrument will rush to $101.50 (another barrier to growth). If the above levels are overcome (this is already a more medium-term idea), then oil will not keep you waiting and will reach $104.23. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
TVC:UKOILLong
by Market-Mentor
1
📈BRENT 09/08/2022: recovery attempt❗️📈 Priority direction: Up . 📝 Description: After the downward movement since the end of July, the range of which is $16, there is a possibility of recovery and a possible local reversal. The price is at interesting support levels, and the volumes confirm the potential for a likely upward reversal. Buying from the current ones is not a good idea. Longs can be looked at at the level of $97, based on the results of fixing the price at the specified value. The target is located at the level of $98-$100. After such a development of events (as close as possible to this one), we can say that oil locally turned up. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
TVC:UKOILLong
by Market-Mentor
3
Gasoline almost back to pre-war levelsGasoline in the US has been trending lower and lower, now down 30% from its ATH. It hasn't filled the breakaway gap yet, but I think it will do so in the next few weeks, and that could be an excellent opportunity to go long in the short term. Oil has filled the gaps and chopped at support for a while but is looking weak. What is strange is how supply is limited, the spot market is strong... yet the paper market (futures, etc.) is invalid. Maybe the weakness is due to broadly slowing growth and economic activity, though I am not sure the REAL recession is here yet. The energy crisis isn't over, especially not in Europe... and this could get worse before they get better. Most issues remain the same, and there is very little progress. There are no new refineries; few nuclear plants are active again, Russia is still limiting gas flows to Europe, sanctions make oil flows harder, and OPEC+ cannot increase capacity fast. Our energy needs constantly grow, yet our production has plateaued. Very little can be done now to ease our problems, and our problems will become even worse if the SPR is drained and the US stops supplying the world with oil from its reserves. Most solutions require time, and politically many of these are not welcome by the green movement. Essentially, we have energy producers and green activists colluding to increase energy prices so that the first make more money and the second to make themselves feel good while simultaneously destroying people's lives and the environment. I believe crude oil could get down to 75$ and even 55$ in the short term but ultimately will go much higher once the Fed and other central banks are forced to cut rates and print money. It's all about managing your positions until we get to that point, as a big recession could cause oil and gas prices to tank. Oil and gasoline prices rose so fast that it is almost impossible for such a move not to cause a recession and consequently demand destruction. If we look at Gasoline prices in terms of other fiat currencies, we can see that they went 70% higher than their 2008 peak, which is a lot. I multiplied the RBOB with DXY to get a better picture of the actual cost of gas for everyone outside the US, as the US is less than 25% of the global economy. That means that for almost 90% of the population and 75% of the worldwide economy, gasoline costs 70% more than in 2008. This will have tremendous consequences, especially given the rate at which prices increase. In conclusion, although I don't think prices have bottomed, and we could see a sharp decline in the next few months, I believe gasoline and oil prices will go much higher, and dips are for buying.
NYMEX:RB1!
by BitcoinMacro
#BRENT crude oil - technical picture deterioratingAs we all know, Brent crude has been one of the strongest commodities for quite some time given all the supply issues from Russia/Ukraine and under investment. Oil has lost some critical technical levels losing both its horizontal support, rising channel as well as 200 day moving average. The market can be telling us two things, potentially, (1) there is some sort of resolution to the Russia/Ukraine embargo, or (2) Economic growth slows down as we enter recession, with demand destruction starting to take place Next target is likely $86 which was an important level of resistance in prior years - and likely to become support should we drop further.
TVC:UKOILShort
by MarcoOlevano
📈GOLD 08/03/2022: trying to keep growing❗️📈 Priority direction: Up . 📝 Description: Nancy Pelosi's visit to Taiwan yesterday stepped up buying in precious metals, fearing a strong response from China to prevent the arrival of the speaker of the US House of Representatives. However, after the American politician's plane landed, prices began to return to their previous values ​​and even fell lower. The $1770 level is still interesting for buyers and they won't give up this milestone just like that. Today we assume an attempt to rise to yesterday's highs. A change of priority in favor of sales is expected only after breaking through the level of $1756. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
OANDA:XAUUSDLong
by Market-Mentor
3
20 Reason for sell OILUpdate 01/08/2022 1 Structure 3: Side ways Bear 2 imbalances : upper side filled Lower side target marked 3 Current Move1/2 : impulse 4 Entry TF : D1 4.1 ETF Structure: bear 4.2 move : impulse 5 Support Resistance: up side imbalance filled 6 FIB: trigger completed 7 candle Pattern: Momentum engulfing 8 Chart Pattern: M 9 Volume : 10 Momentum: just bear (RSi) using for Momentum Unconventional using 11 Volatility : compression near lower band (use Bollinger bands for volatility ) 12 strength: bull initial (ADX for trend strength 13 Sentiment : extremely bear Currency power index 14 Final Summary: hold entry and add one at close outside the band 15Buy /Sell/Wait : sell 16 Entry:90 17 Sl: 93 18 Tp: 70 19 Risk to reward Ratio: 1:7 20 Excepted Duration : 30
TVC:USOILShort
by Optimum369
1