USDBRO trade ideas
DeGRAM | UKOIL pullback against trendUKOIL is trading in the descending channel .
Price is testing the resistance level and psychological level at $80.00, which creates a confluence zone to short the market.
The market is making a pullback on the larger scale of the bearish trend.
We anticipate a trend continuation trade.
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UKOIL, ShortPrice has correctively pulled back to an area which we saw a strong impulse push downward breaking structure indicating could see a potential reversal occur at this level.
If we don't see a bearish confirmation validating a sell, I will look for a different that meets my trading plan.
Thanks
Trade Safe
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UKOILUKOIL is in falling wedge and near 2020 trend higher low after its breakdown we saw a crackdown and more selling
but if we follow rules we can see a pullback to wedge uppr trendline
and after breakout ukoil gives a new move
DeGRAM | UKOIL pullback against trendUKOIL broke through the major support level at 80.00 then dropped.
The price is consolidating after the sell-off.
The oil market bounced off the support level at 72.00. It's pulled back against the bearish trend.
We anticipate a bearish continuation trade.
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OIL PRICE IS TOO LOW TO STAY AT THIS LEVEL FOR LONG#COMMODITIES #TRADESETUP
📡🔞 TRADE $BRENT
🔽 LONG (BUY) > 76.20$
❌ STOP > 75.10$ (1.18%)
✅ T1 > 93.32$ (RR 19.31)
✅ T2 > 119.5 (RR 48.41)
☠️CAUTION !!!!
2 IMPORTANT INFORMATION TO TAKE INTO CONSIDERATION:
> THIS IS A MT/LT TRADE. REGARDING THE SETUP. JAC IS DONE AND WE ARE WORKING ON THE EXIT. PIV D (76.47$) MIGHT BE THE KEY.
> IF WE REINTEGRATE THE FORK (BACK BELOW 75$). LAST CALL MIGHT BE THE LEFT LQ ZONE (73.30$)
> FUNDAMENTALS
OPEC+ likely to stick to its guns despite price slump, delegates say
www.reuters.com
Wo1and, PhD
Short OilThe price below 200 EMA indicates downtrend bias. Wait for the price to retrace to SBR zone to enter short position.
UKOIL🛢️ macro movesBrent Crude Oil : Multiyear(2015-2022) inverted Head and Shoulders triggered at the beginning of this year. Price broke the major downtrendline and subsequently iH&S neckline at 87 (lime) and then skyrocketed to 138. Now pulling back down to the neckline. We could actually see the backtest of the major downtrendline and dip into the S/R Zone 76-68. This would be great buying opportunity. Price shouldn't get much below right shoulder (65.8), otherwise the setup would be invalidated. Will set SL to 60, Target 157.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Brent: In the Jungle 🌳🌴🎍Wimoweh, wimoweh, wimoweh, wimoweh
Wimoweh, wimoweh, wimoweh, wimoweh
Wimoweh, wimoweh, wimoweh, wimoweh
Wimoweh, wimoweh, wimoweh, wimoweh
In the jungle, the mighty jungle
The lion sleeps tonight,
In the jungle the quiet jungle
The lion sleeps tonigh
Wee heeheehee…–
… – okay, let’s stop here before we won’t be able to get this song out of our heads. We should rather take a look at Brent, which has advanced deep into the dark green jungle between $77.13 and $42.20 and has left the mark at $75.09 behind. We hope, the course has taken a sharp machete along, as we expect it to penetrate the scrub further – ideally until the 61.80%-retracement at $62.71. There, it should complete wave 2 in green and subsequently turn upwards again.
Brent weaknessFX_IDC:USDBRO traded below $75 last week. Given the economic challenges, I'm open to weak oil prices. Unless there's a bounce at $71, we might see $64. How will this affect JSE:SOL , I don't know but I don't want to pay more than R30/L for petrol.
Bullish Market for The OIL This Week ?As the markets attempt to digest two bank failures in the U.S., a plunge in shares of Credit Suisse and plummeting bank stocks on two continents, fears mount that a banking collapse could lead to a sustained economic downturn and cap demand for oil. So that will push the OIL up .
