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Crude Oil Brent

Stubborn MarketsThe markets simply refuse to give up. The birds are speaking to them, but nobody listens. Gold, still living inside a massive bearish wedge pattern, is almost ready to print a death cross. The 1M, 2M and 3M timeframes print a similar picture. The 2M chart is beginning to give in. Volatility between MAs is keeping these still glued together, unable to figure out the next move. Either the best Golden Cross prints or the worst Death is soon to come. Markets are weird. I always found incredibly interesting the period before the .com bubble. Equities had just printed a death cross. After the post-1988 prolonged weakness, all support seemed to have been lost. Instead, the markets boomed. It is at these extremes when the good and bad stuff happens. I am getting annoyed from all the birds speaking, many of them bullish on gold, others bullish on equities. The Gold Bird Everybody wants to keep this fella alive! The SPX Bird Everybody wants to kill this poor fella! With both birds SCREAMING, we cannot reach conclusions. Gold Bulls are buying into their ultimate doom. SPX Bears are selling into one of the most powerful bull runs we have witnessed. It is the duel between them that will clear the picture. Honestly, it looks like a Gold Cross is about to shape for equities, not for Gold! Gold may instead take the black death-ish color. Again, Buffett may be right after all... Japan + Oil = love-4-many-years US Yield Rates show significant signs of strength. The end of the 2nd Big Tech bubble is right around the corner... Bird might be Peter's word. Don't be like Peter. Remember: Trend is the trader's word.
TVC:GOLD
by akikostas
13
ukoil 1 hour chart distribution tp 65 usd / bbl🔸Today let's review the 1 hour chart for brent oil . Previously strong downtrend in progress entire 2023 so outlook remains bearish until we can daily close above 80 usd. 🔸OPEC production cuts have low impact on prices recently due to lower global demand. Technically, we are in a distribution pattern setup since May 2023 and expecting breakdown and new/fresh lows soon for Brent. 🔸Recommended strategy for crude oil traders: short-sell near market / short-sell rips and rallies, limited upside and final TP bears is 65 USD. once we get a valid breakdown of the structure expecting losses to accelerate in this market. 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
TVC:UKOILShort
by ProjectSyndicate
18
UKOIL(BRENT)-06/19/2023Preferred direction: BUY Comment: Closing the price above the local resistance 76.30 creates a potential movement for buyers towards 77.39. This will be another major buying hurdle as it is medium term resistance. Given the context of the price movement towards this resistance, there is a very high probability of a breakout to the upside. Perhaps this will not be the biggest upward impulse, however, the approach to the round value of 80 will most likely be provided. Thank you for like and share your views!
TVC:UKOILLong
by Strifor
3
#OIL #OOTT UpdateI think I just decoded the oil chart. I have been contemplating a rise to $90+ because I expected ABC flat where I now see WXY combination of zigzag, zigzag and triangle. The chart now perfectly aligns with Brent where wave [ B] did make lowest low presumably shaping a symmetrical triangle whereas WTI is working on a running triangle. That means that we have only strong push left upwards from current low which should come either as a straight impulse or an expanding diagonal which will be extremely annoying.
TVC:USOIL
by Fomenka
Oil -Rising on potential OPEC cut oil productionWell, the technical analysis seems to indicate that Oil is currently in a very strong overbought area, from which we expect it to rise to at least 82. Especially since interest rates may stop rising in the coming period and be fixed at 5.25 or 5.50 With the decline in oil prices due to the economic slowdown, there is a high probability that OPEC will cut oil production at the next meeting, which will cause prices to rise strongly.
TVC:USOILLong
by m-trad-e
1
FEDFUNDS | Too TightThe point of TradingView (and being a human/trader in general) is to learn from your mistakes. I did make some mistakes. Perhaps this idea by itself is another mistake. But I cannot do any different. I must speak out about what I see. For the past year I tried to understand the pressures that are pushing prices higher, equities lower. It is important in analysis to avoid the mass, the "common truth". We all have expected a future of uncontrollable inflation, extreme prices and The Great Reset. The place where everything is too expensive to buy, and we will have to live with coupons. While some of these may come, it is important to analyze what isn't coming. Oil prices have been paired with the dollar (with the petrodollar). Many expect oil prices to explode even further, while "dollar is losing value" and "hyperinflation is imminent". Some charts however show a different picture... WIth the 2M chart warning of downward swing, and with the 3M chart showing divergence, the future of oil may not be as explosive as we may believe. But that is in relative terms. The strength of money seems fated to increase a lot more. Which in relative terms will constitute oil cost to be viable. In the main chart, it appears that oil is moving into what appears to be a Wyckoff Distribution. And oil is not the only one who will have trouble with the high-yield environment. Until now, the usual equity-bond investment scheme has performed tremendously. This trend is now changing. With a significant trend violation that occurred last year, it seems that we are entering a new period of investment strategies. From bonds as a hedge against equity weakness, investors should seek alternatives. The old way of doing things is broken. Commodities will be playing a significant role in the future of investments. It is in our power to find the new way of doing things. Tread lightly, for this is hallowed ground. -Father Grigori P.S. A link to the indicator I am using.
NYMEX:CL2!
by akikostas
USOIL is getting cheapWe recently noted that an interesting opportunity to go long oil could be on the horizon soon. Accordingly, we waited patiently for the price to fall below $70 per barrel. Now, with the price trading near $68.80, we are starting to consider the price attractive to go long. However, we think it is proper not to use all the firepower yet as technicals still point to more downside. Therefore, our plan is to start accumulating in very small batches and unload the stash with the price retracing back above $70. With that said, we would like to set a price target for USOIL at $71. Technical analysis Daily time frame = Bearish Weekly time frame = Bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILLong
by Tradersweekly
22