Brent oil breakoutBrent oil breaking out after a very long down trending period, now targeting $112 a barrel.
Brent
USOIL 27th JULY 2022Oil prices rose for the second day in a row, Tuesday (26/7). Amid growing concerns about tightening European supplies after Russia, a major energy supplier is cutting gas supplies via a main pipeline. The European Union has repeatedly accused Russia of using energy blackmail. The Kremlin said the shortage had been caused by maintenance issues and Western sanctions.
EU energy ministers on Tuesday approved a proposal for all EU countries to cut voluntary gas use by 15% from August to March.
The Organization of the Petroleum Exporting Countries and allied producers (OPEC+) are expected to confirm as a mere formality their decision to expand oil production by 650,000 barrels per day in July and August. The OPEC+ group of producers including Russia, began two days of meetings on Wednesday, though sources said there was little prospect of agreement to pump more oil . The net drop in crude oil inventories was flattered by SPR (Strategic Petroleum Reserve) releases, while the gasoline stock jump is because U.S. refineries are running at over 95% capacity.
USOIL 6th JULY 2022
USOIL 14th JUNE 2022
📈GOLD 07/27/2022: attention to $1715❗️📈 Priority direction: Up.
📝 Description: According to yesterday's analysis, we expect growth and the price, as expected, fell to $1715, from where one should carefully look at long. The direction remains the same (up), but there is a possibility that the price will dive under the $1715 level. In this case, to open a long position, it is necessary to wait for the price to close again above this level ($1715). If buyers fail to fulfill this condition, then longs should be refrained from at the moment.
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" USOiL" Sell Trade ( With 300 Pips Target )Pair Name : USOIL
Time Frame : 15 Min
Analysis Type : Scalping Trade
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➡️ Main Support Level : 92.400
➡️ Main Resistance Level : 98.250
➡️ Time To Entry : After Break Out The Area And Test it
➡️ Target : 91.00 - 88.00 - 85.00
📈BRENT 07/26/2022: continued growth❗️📈 Priority direction: Up.
📝 Description: Oil is also starting to gain momentum and gradually recover. This outcome of events is expected for us, earlier this perspective was approved in the ideas. Now the levels of $105-106 are the nearest support from which the price will potentially continue to grow. An alternative (unlikely scenario suggests) a rollback to $101 and from there to look closely to buy. Long targets are at the levels of $109 and $111.
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📈GOLD 26/07/2022: $1715 support❗️📈 Priority direction: Up .
📝 Description: The metal is starting to show signs of recovery, the $1715 level works well as support. Thus, longs will be in priority, if there are still some sales, then it is better not to set targets below $1715.
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CRUDE OIL (WTI) Your Trading Plan For Next Week🛢
Hey traders,
WTI Crude Oil is approaching a solid demand area.
To catch a bullish move from that, watch the reaction of the price to the resistance line of a falling parallel channel.
If the price breaks and closes above that, we will expect a bullish movement at least to 104.5 level.
Alternatively, bearish violation of the yellow zone will trigger a further decline.
Good luck next week, traders!
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
📉GOLD 07/25/2022: reverse attempt❗️📉 Priority direction: Down.
📝 Description: Friday's growth last week allowed the metal to strengthen, but buyers stopped at $1725. The price is currently trying to stop the local downtrend. Within 1-2 days, it will most likely be clear whether this will be done or not. At the moment, the focus is on the $1710 and $1700 levels. In the medium and long term, the instrument will most likely turn up, but before that there is a high probability that there will be another approach to $1700 and even lower.
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CRUDE OIL (WTI) Detailed Video Analysis 🛢
Weekly update for WTI Crude Oil.
Price action, key levels and potential scenarios.
Trading recommendations.
❤️Please, support this video with like and comment!❤️
📈BRENT 21/07/2022: potential longs❗️📈 Priority direction: Up.
📝 Description: The downward channel for oil since mid-June indicated the priority of shorts, but at the moment, most likely, buyers will attempt to reverse the price and send it towards the latest highs. In the near future, the price will try to break through the resistance line of this channel. An alternative scenario assumes that the price will stand at current prices and then go up. Potential longs can be considered from the level of $101.
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USOILPotential for mean reversion back to balanced area we see above around the $99 mark, lets see if Price can keep above Fixed VP POC.
UKOIL headed downGood day friends... spotting reluctance has really helped my understanding. From avoiding being caught in the wrong direction to forecasting, to setting targets....spotting reluctance just puts probability on our side... isn't that what we want as traders? to put probability on our side? So you may ask, how do we spot reluctance... going back to this UKOIL chart, I am not personally on this sell because it didn't meet my entry criteria, I was actually looking to go long but what did price do? It retraced into the demand zone , just wicked it slightly and proceeded very close to my target and then headed back to the demand zone.... what you just read is what I call reluctance …. its shows slowing of price and a possible reversal in place... once spotted my bias changed to bearish immediately... I was bearish on USOIL anyway (just didn't get an entry because it moved too impulsively)… with all these said.. we might just see UKOIL heading down as depicted on the chart.
USOIL: TOO PESSIMISTIC?Hi guys, after a huge rally in the past months, i'll probably start to long position on Oil only after a huge dip around 40-60$.
Do you think is possible?
CRUDE OIL (WTI) Your Detailed Trading Plan For This Week 🛢
How to buy oil with a confirmation?
Watch this video and get a detailed trading plan.
Top-down analysis included.
❤️Please, support this video with like and comment!❤️
$UKOIL - Multi-timeframe reviewHi guys! 👋🏻
🔔 Saudi Arabia refused to increase oil production requested by President Biden. However the strong US Dollar and uncertainties in Chinese economy hold Crude oil prices from a stronger hike. Market will be watching the relaunch of Nord Stream 1 this Thursday which will have a massive impact on DXY, energy sector commodities.
🔔 As for the technical analysis, implementing the Elliott Wave theory, we might consider that oil is on its way to display newer highs.
🔔 See charts below
🔔 Fibonacci 0.618 level of last weeks correction
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
CRUDE Bounce and rehash IILast week's assessment was way off, admittedly. No follow through and just a turn and dive. It went further down to 92, and bounced strongly to end the day, and the week with a candlestick and long lower tail.
Expecting bullish week ahead... later in the week.
104 resistance, then 108 next resistance.
TRADE OF THE WEEK | Patience Pays & Winners Win💰
Hey traders,
As you know, I made 4 accurate predictions in a row on WTI Crude Oil.
This week the price was retesting a key level.
I spotted a very nice confirmation on that with a double top formation and a bearish breakout of a rising wedge pattern.
The market dropped sharply then and I spotted one my confirmation:
neckline breakout of a head and shoulders pattern.
Great winner and nice trade.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
USOILOil breaks the daily structure, we can look for shorts on pullbacks to this orderblock to aim for the market orders lower, market doesnt agree with these high oil prices! great signs for the cost at the pump. Look to catch the imbalance to the downside.
CRUDE OIL (WTI) Important Decision Ahead! Your Plan: 🛢
Hey traders,
WTI Crude Oil is approaching a major daily demand area.
Depending on the reaction to the underlined structure, I see 2 potential scenarios:
If you want to buy WTI, I would suggest watching a falling wedge pattern on a daily.
Its bullish breakout will trigger a bullish continuation at least to 104.6.
(we need at least a daily candle close above that to confirm the breakout)
If you want to short, I would suggest waiting for a bearish breakout of 93.0 - 95.0 area.
Daily candle close below that will trigger a bearish continuation to 87.5 - 90.0 area.
Wait for a breakout and only then follow the market.
What do you expect?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
3d world war is coming!;(Bit on oil and Bitcoin to pass the war it will be to hard future is darrrk!
USOILIs there some value in oil longs here, we can see we are trading just below the fair value range highlighted by the VP, price has contracted and broken the fixed VP, we could look to take some longs back to a fairer price here.
Brent: You Can Do It!On its way down, Brent got stuck at the support line at $97.56. However, we expect it to struggle through and to make it into the blue zone between $94.50 and $89.73, where it should finish wave 5 in blue and wave a in turquoise. Then, Brent should move upwards, crossing even the resistance at $107.64, above which it should complete wave b in turquoise. Afterwards, Brent should resume the downwards movement and drop back below $107.64 as well as below $97.56.
