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Crude Oil Brent

A Sell on the Rise StrategyFrom a long-term perspective, Oil, in this case, we use the Brent Last Day Financial by NYMEX CME, overall is trending downward! It would be tempting to initiate a “sell on rise strategy” especially when a long term trend line (in blue) is challenged. The trend line majors the historical highs of Brent (BZ) as well as Crude (CL) since the second all-time-high (ATH) in March 2022. Diving deeper and a closer look to what's happening in 2024! Brent has been consolidating way too long already! Crude oil touched-and-go, the same immediate resistance, and marked a 4-month high before closing just below $87 per barrel. Meanwhile, from a short-term perspective, it coincides with a broad technical bullish consolidation within a channel formation (Orange lines). All recent higher-highs and higher-lows in 2024 have indicated an uptrend and the current bullish bias was well supported at triple bottom (Purple line) in the last couple of weeks. Ideally, Oil should consolidate within the wedge formation until a sustained clear breakout. Oil is trading in an overbought territory and reversal should be in cards! A suggested trade to bet on the stronger challenge downtrend would be to short at 87.50 level and an appropriate stop loss above an immediate significant resistance. Fundamentally still overbought am looking to break the congested trend channel downwards!
NYMEX:BZ1!Short
by phillip_nova
UKOil Looks Bullish**Monthly Chart** UKOIL last month's candle closed bullish after it tested the demand zone in Dec 2023 around 70 levels. This suggests a continuation of the bullish trend at least to test the MC around 95 level. **Weekly Chart** Last week's candle closed bullish after Breaking the recent weekly high at around 84 level. The price might continue moving higher to at least test the liquidity pool at around 88 levels. There is a high probability chance that UKOil will continue the up-move for this week. **Daily Chart** Last two weeks there were good buying opportunities and USOIL broke the high of the range. This week will continue to look for buying opportunities if the price moves below 84.00 level with next target around 88 level. If the price does not sustain the move and starts showing reversals then we will look to sell it instead.
TVC:UKOILLong
by PropSignals
UKOIL (Brent) Technical Analysis - VideoIn my previous post, I shared my analysis on Brent crude oil. Here's a video explaining the reasoning behind my trade idea: Currently, Brent is trading within a daily range-bound channel. It's pushing against the upper boundary, which hints at a possible retracement to test previous lows. Interestingly, historical data over the past decade suggests that March tends to be a bearish period for Brent. Disclaimer: Remember, this analysis is based on technical factors and should not be seen as direct financial advice. Trading commodities is inherently risky. Before making any trades, always consult with a qualified financial professional and carefully consider your own risk appetite.
TVC:UKOILShort
by fxtraderanthony
UKOIL (Brent) Technical AnalysisBrent crude oil is presently confined within a daily range-bound channel. The price is currently testing the upper bounds of the range, suggesting a potential retracement to retest previous lows. This analysis incorporates a seasonal perspective – historical data over the past decade indicates a tendency for Brent to experience declines during the month of March. Disclaimer: This analysis offers a technical viewpoint and does not constitute direct financial advice. Trading commodities carries inherent risk. Always consult a qualified financial professional and carefully evaluate your individual risk tolerance before making investment decisions.
TVC:UKOILShort
by fxtraderanthony
Crude Oil Analysis: Bullish Momentum Expected After BreakoutCrude oil has recently encountered resistance and experienced a pullback from this level. However, it is currently trading within an ascending channel, suggesting that the bears are losing momentum, while the bulls are gaining control of the market dynamics. Key Observations: 1. Resistance Encounter: Crude oil faced resistance at a significant level, prompting a temporary retreat. 2. Ascending Channel: The price action is confined within an ascending channel, indicating a bullish bias in the market sentiment. 3. Breakout Confirmation: Notably, the price has broken and closed above the critical resistance level of 83.00, signaling a potential shift in momentum towards the upside. Anticipated Move: - With the breakout above 83.00, I anticipate a continuation of bullish momentum in the near term. - The breakout suggests renewed strength in the market, potentially leading to further upside movement. - Bulls are likely to dominate as the momentum shifts in their favor, with potential targets being the next resistance levels. Trading Implications: - Consider long positions or bullish strategies in anticipation of the upward momentum. - Implement risk management strategies, including stop-loss orders, to mitigate potential downside risks. - Monitor price action for confirmation and adjust trading plans accordingly based on evolving market dynamics. Overall, the breakout above the resistance level of 83.00 suggests a bullish outlook for crude oil, with the potential for further upside movement in the near term. --- Share your thoughts in the comments and support the analysis with boost thanks for the follow.
EASYMARKETS:OILUSDLong
by Forex_Haleh_signals_professor
1
ukoil 8 hour short from resistance tp 72/74 usd🔸Hey guys, today let's review the 8 hour chart for UK oil . Any upside is limited by strong overhead resistances, currently weak bounce in progress, however most likely bears will take over from overhead. 🔸Strong resistances will cap upside at 84.00 usd / 86.00 usd. right now locked in tight trading range, however expecting final pump to trigger overhead stop losses before reversal and subsequent sell off event. 🔸Recommended strategy for BEARS: wait for the final pump before short selling from strong overhead resistances at 84.00 and 86.00 SL fixes at 88.00 usd, TP1 bears is 76 usd TP2 bears is 72 usd. swing trade setup, patience required. good luck! 🎁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
3
gbpusd 2700/2720 short tp bears 2500🔸Hello traders, let's review the 4hour chart for GBPUSD today. Nice pump off the lows recently, however upside capped/limited by heavy overhead resistance near 2700/2720. 🔸Downtrend defined by a sequence of lower highs, 2760, 2740, 2720 in progress, right now I recommend to focus on shorting any rips/rallies towards heavy resistance. 🔸Recommended strategy for GBPUSD bears: short sell rips/rallies near resistance 2700/2720 stop loss fixed 40 pips TP1 + 100 pips TP2 +2000 pips final TP exit at 2500. swing trade setup, time required to hit both targets. good luck traders! 🎁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.
Short
by ProjectSyndicate
1
UKOIL OUTLOOKUKOIL FEB WEEK 5 OUTLOOKG - Daily - I am still long bias on oil. if it does pullback, I will not get involved in shorts this week. I will see how it plays out. significant zones to look for absorption are 80.10 - 79.43 78.63 - 77.48 Origin -looking weak here too. if price fails to hold above 80.87 - 80.77 here, next level of support comes down to 78.54 - 79.26. but if for some reason oil does pull up from here and is able to hold the zone 82.98 - 82.66 (low probability) then I will look to enter quick long entries.
TVC:UKOIL
by Osiris992
usoil h4 xabcd short from resistance target 68 usd🔸Today let's review the 8 hour chart for US oil . Noteworthy bounce in progress after accumulation near lows, however currently getting overbought, we are closing in on a cluster of stop losses / heavy overhead resistance. 🔸XABCD structure is defined by point X at 70 usd, point A at 78 usd, point B at 72 usd, point C at 79 usd, point D at 68 usd. speculative XABCD setup. 🔸Recommended strategy for BEARS: bulls will likely trigger clusters of overhead stop losses near 78 usd and 79 usd, look for reversal / rejection near 79 usd and short sell, SL at 82 usd, TP1 is 72 usd, TP2 / final exit at point D / 68 usd. swing trader setup, patience required. good luck! 🎁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:USOILShort
by ProjectSyndicate
7
USOIL daily best level to buy/hold 24% upside🔸Today let's review the daily chart for crude oil . Recently price action contained within well-defined range trading zone. therefore it's recommended to focus on buying low near range lows. 🔸Strong horizontal support at 67 usd is a great entry point for a swing trade setup for the bulls, short-term expecting more losses, however downside will be capped by the strong S/R zone. Bulls should focus on buying low later, once the pullback is complete near 67 usd. 🔸Overhead resistance set at 81/82 usd, defined by strong horizontal S/R zone previously confirmed with numerous backtests. Therefore, recommended strategy for the bulls: buy low near 67 USD TP 1 is 75 USD TP2 is 80 USD final TP/exit at 82 usd, this is +23% gains (unleveraged). obviously, buy/hold swing trade setup, patience is required and will take more time to hit tp. good luck, traders! 🎁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:USOILLong
by ProjectSyndicate
12
Investing into Uranium-Backed Producers. Technical perspectivesUranium ore trades is at records highs, as several hedge fund managers are expanding their allocations to uranium stocks, with a conviction that an increasing embrace of nuclear energy as part of a "green" future - along with geopolitically-rooted ambitions to reduce dependence on Russian oil and gas -- means the trend has a lot of room to run. On Wednesday, November 1, French President Emmanuel Macron arrived in uranium-rich Kazakhstan on the first leg of a trip to Central Asia. According to a study by the World Nuclear Association (WNA,) published in August this year, Kazakhstan possesses 12 percent of the world's uranium resources and in 2021 produced about 21,800 tons. In 2009 it became the world's leading uranium producer, with almost 28 percent of world production. In 2019, the country produced a staggering 43 percent of the world's uranium. A dozen years after the disaster at Japan's Fukashima reactor put nuclear energy on worldwide probation -- and in, Germany, gave it a death sentence -- various factors are combining to bring it back into the acceptable realm of energy solutions. UXC URANIUM U3O8 Futures Price, over the past 5 years. First reason, the International Energy Agency says that, in order to meet "net zero" goals -- which describes a state where carbon emitted into the atmosphere matches the amount removed from it - global nuclear generation capacity must double from 2020 levels by 2050. In addition to nuclear energy coming to the fore as a zero-carbon-emitting power source, it's also seen as a way for the western economies to reduce their need for Russian oil and gas. The fact that Russia currently accounts for about 8% of the world's uranium reserves underscores the need to develop new supply sources. There's also an increasing appetite for nuclear power in Asia and Africa. Taken together, the uranium-friendly trends could power significant gains in the sector. Uranium equities could see dramatic upside -- 50%, 100%, possibly MultiX more. The main graph represents technical perspectives for AMEX:URA - The Global X Uranium ETF that provides investors access to a broad range of companies involved in uranium mining and the production of nuclear components, including those in extraction, refining, exploration, or manufacturing of equipment for the uranium and nuclear industries. The Global X Uranium ETF is 35.66% year-to-date return in this time, that is much stronger against top 4 American well-known indices i.e. S&P500 Index SP:SPX (11.95% YTD), Nasdaq-100 Index NASDAQ:NDX (35.22% YTD), Russell 2000 Index TVC:RUT (-3.38% YTD) , and Dow Jones Industrial Average DJ:DJI (1.94% YTD). Top 5 Holdings of AMEX:URA - The Global X Uranium ETF (as of November 1, 2023) # Weight Name 1. 23.80% TSX:CCO - CAMECO CORP 2. 11.25% TSX:U.U - SPROTT PHYSICAL 3. 6.77% LSIN:KAP - NAC KAZATOMPROM-DR 4. 6.45% NYSE:NXE - NEXGEN ENERGY LTD 5. 5.41% AMEX:UEC - URANIUM ENERGY CORP 👉 The main graph says, there're alternative technical perspectives for AMEX:URA - The Global X Uranium ETF in this time, where the major break out of multi year highs can open the door to further huge, MultiX upside price action under well-knoww Technical figure "Cup-and-Handle". 👉 Vice versa, if resistance is still strong, it can bring the graph to its main 5yrs SMA support.
AMEX:URA
by Pandorra
Geopolitical tensions are starting to weigh on oil pricesThe United States’ decision to conduct airstrikes earlier this week against targets in Somalia and Yemen provoked more aggression from Houthi rebels, who engaged in multiple new attacks against commercial vessels in the Red Sea and the Gulf of Aden. Following that, Yemen’s rebels claimed a successful hit to the U.S. military ship, which the United States quickly denied. Despite months of ongoing attacks on ships passing through the strait, there have not been any reports of casualties. However, the odds of a fatal tragedy are growing together with the increasing intensity of Houthi’s attacks. Such an event would likely elevate tensions to a new level and put significant pressure on the United States government to act. In the scope of this worsening crisis, the odds of higher oil prices are climbing. On the technical side, some developments suggest oil might be prime for a run higher as well; the MACD crossed into bullish territory on the daily graph, and RSI and Stochastic continue to build bullish structures. Nonetheless, one thing to note is that the ADX is still relatively low, hinting the trend is very weak. Therefore, it might be proper to wait and see whether the USOIL manages to close above $76.14 for at least two consecutive days before committing to a bullish outlook. Illustration 1.01 The image above shows the MACD breaking above the midpoint on the daily time frame. Illustration 1.02 Illustration 1.02 displays the daily chart of the USOIL and simple support/resistance levels derived from peaks and troughs. An important level to watch is support at $76.14. If the USOIL manages to make another two consecutive closes above this level, it will bolster the bullish odds. Technical analysis Daily time frame = Bullish Weekly time frame = Neutral 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 or any other entity. Your own due diligence is highly advised before entering a trade.
TVC:USOILLong
by Tradersweekly
2
WITH BULLISH STRUCTURE ESTABLISHED, BRENT OIL TO RISE ABOVE $90Brent oil last trading week completed its bullish structure, and thus indicating the potential for price to exceed $90 in the coming days. The market has witnessed the formation of a bullish structure characterised by higher-low and higher-high, signifying a positive momentum in the oil market. N.B! - UKOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast. - Let emotions and sentiments work for you - ALWAYS Use Proper Risk Management In Your Trades #usoil #crudeoil #wti #brentoil
TVC:UKOILLong
by BullBearMkt