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Oil Prices Slip as Gaza Talks and China Worries WeighOil prices edged lower at the start of the week, as traders weighed the potential impact of ongoing Middle East tensions and softening demand from China. Brent crude, the global benchmark, dipped towards $79 a barrel, while West Texas Intermediate (WTI) hovered around $76. The recent decline follows a turbulent week for oil markets, marked by significant volatility. Prices had shed nearly 2% on Friday as investors grappled with concerns over China's economic recovery and the potential implications for global oil demand. The world's second-largest economy has shown signs of weakness, with data indicating a slowdown in industrial activity and consumer spending. This has raised doubts about China's ability to drive oil consumption growth. Meanwhile, the ongoing conflict between Israel and Hamas in the Gaza Strip continues to cast a shadow over the energy market. While diplomatic efforts to broker a ceasefire have intensified, the situation remains volatile, and the potential for disruptions to oil supplies in the region cannot be ruled out. The geopolitical risk premium, which has supported oil prices in recent months, could diminish if a ceasefire is achieved. Analysts caution that the oil market is likely to remain volatile in the near term, as traders navigate a complex interplay of factors. On one hand, the potential for supply disruptions due to geopolitical tensions could underpin prices. On the other hand, weakening global economic growth and efforts to transition to cleaner energy sources could exert downward pressure. Looking ahead, investors will be closely monitoring developments in the Middle East, as well as economic indicators from China and other major economies. Any escalation of the conflict or further signs of weakness in the Chinese economy could lead to renewed volatility in the oil market. Ultimately, the price of oil will depend on the balance between supply and demand. While the market has experienced periods of tightness in recent months, concerns about slowing demand growth may start to weigh on prices if they materialize.
OANDA:WTICOUSDShort
by bryandowningqln
Oil Prices Climb on Inventory DrawdownOil prices edged higher on July 3rd, 2024, buoyed by signs of a significant decline in U.S. crude oil stockpiles. Brent crude, the benchmark for international oil prices, for September settlement rose 0.1% to $86.34 a barrel by 10:21 AM in London. Meanwhile, West Texas Intermediate (WTI), the U.S. oil benchmark for August delivery, inched up to $82.88 a barrel. This price increase comes amidst a wider risk-on sentiment in the global financial markets. Equity markets, including the S&P 500, have been reaching record highs, and this optimism appears to be spilling over into the oil market. Inventory Drawdown: A Cause for Optimism The primary driver behind the oil price increase is a report from the American Petroleum Institute (API) indicating a substantial drawdown in U.S. crude oil inventories. According to sources familiar with the data, crude inventories fell by a significant 9.2 million barrels last week. If confirmed by the official figures released by the Energy Information Administration (EIA) later this week, this would mark the largest single-week decline in stockpiles since January 2024. A decline in stockpiles indicates a tightening of supply, which can lead to higher prices. This is because crude oil is a fungible commodity, meaning a barrel of oil from one source is generally equivalent to a barrel from another. So, if stockpiles decline in the United States, it can impact global supply and drive prices up. Geopolitical Tensions and Summer Driving Season Lend Support Apart from the inventory drawdown, several other factors are contributing to the current oil price rally. Geopolitical tensions remain elevated around the world, particularly in the Middle East. The ongoing war between Israel and Hezbollah, along with potential upcoming elections in France and the UK, are keeping investors on edge. Disruptions to oil supplies from these regions could significantly impact prices. Summer is typically a season of increased demand for gasoline due to vacation travel. While the API report also indicated a decline in gasoline stockpiles, concerns linger about weak U.S. gasoline demand, which could temper the current price uptick. Looking Ahead: Factors to Consider The oil market remains susceptible to several factors that could influence prices in the coming weeks and months. Here are some key elements to keep an eye on: • Confirmation of API Inventory Data: Official confirmation from the EIA regarding the inventory drawdown will be crucial. If the data is validated, it will solidify the current bullish sentiment in the market. • Global Economic Growth: The health of the global economy, particularly major oil-consuming countries like China, will significantly impact demand. A strong global economic recovery will likely lead to higher oil demand and consequently, higher prices. • The Upcoming Hurricane Season: The Atlantic hurricane season officially began on June 1st, 2024. If major hurricanes disrupt oil production facilities or shipping routes in the Gulf of Mexico, it could lead to price spikes. • Geopolitical Developments: Any escalation of geopolitical tensions in major oil-producing regions like the Middle East could lead to supply disruptions and price increases. Overall, the recent oil price increase is a result of a confluence of factors, including a potential decline in U.S. crude oil inventories, a risk-on sentiment in the financial markets, and ongoing geopolitical tensions. While some headwinds exist, such as concerns about weak U.S. gasoline demand, the near-term outlook for oil prices appears cautiously optimistic. In conclusion, the oil market is currently in a state of flux. While several factors currently support higher prices, the path forward remains uncertain. Close monitoring of inventory data, global economic indicators, geopolitical developments, and the Atlantic hurricane season will be crucial for understanding how oil prices will behave in the coming months.
OANDA:WTICOUSDLong
by bryandowningqln
Jump on the Oil Swings with Confidence!I am excited to share some positive news with you regarding the recent developments in the oil industry. According to the Energy Information Administration (EIA), crude inventories took a significant dip last week, falling by a whopping 6.37 million barrels. This decline has sparked a wave of optimism in the market, with WTI prices hovering around $83 a barrel and swinging between gains and losses. As we navigate through this risk-off mood and witness the US stockpile decline, now is the perfect time to consider going long on oil. The potential for further price increases is certainly within reach, and this could be a lucrative opportunity for all of us. So, let's not hesitate and take advantage of these oil swings with confidence. Trust your instincts, do your research, and make informed decisions. Together, we can ride the wave of success in the oil market.
OANDA:BCOUSDLong
by bryandowningqln
WTICO Outperforms BCO on US Oil Production RiseWTICO (West Texas Intermediate Crude Oil) has recently been outperforming BCO (Brent Crude Oil). This trend coincides with an increase in US-produced oil replacing sanctioned Indian refined oil. Potential Opportunity in WTICO The shift in market dynamics could present an opportunity for traders considering long positions in WTICO. However, as always, it's important to conduct your own research and consider factors like: • Market Volatility: Oil prices can fluctuate significantly due to various factors. • Global Oil Production: Changes in global oil production can impact WTICO's price. • Your Investment Strategy: This trade should align with your overall risk tolerance and investment goals. Stay Informed, Make Informed Decisions We recommend staying updated on market developments before making any investment decisions. We're Here to Help Please don't hesitate to contact us if you have any questions or would like to discuss this further within the comments.
OANDA:WTICOUSDLong
by bryandowningqln
Brent to continue in the upward move?Brent - 24 expiry The rally was sold and the dip bought resulting in mild net gains yesterday. Intraday, and we are between bespoke support and resistance 73.72-81.78. Immediate signals are hard to interpret. Previous resistance, now becomes support at 77.40. There is no clear indication that the upward move is coming to an end. We look to Buy at 77.40 (stop at 76.40) Our profit targets will be 79.90 and 81.78 Resistance: 79.90 / 81.78 / 84.57 Support: 77.40 / 76.61 / 73.72 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:BCOUSDLong
by OANDA
Oil Indicates Bearish Trend as EMA 50 Crosses Fibonacci .618Recent technical analysis has revealed a bearish signal as the Exponential Moving Average (EMA) 50 has crossed the Fibonacci .618 level, indicating a potential downward trend in oil prices. Technical indicators serve as valuable tools to assess market movements and make informed investment decisions. The EMA 50, in particular, is widely recognized for its ability to provide insights into medium-term trends. When it intersects with significant Fibonacci levels, such as .618, it often signals a shift in market sentiment. Given the current scenario, it is crucial to exercise prudence and consider the implications of this signal. While it does not guarantee a definitive outcome, it is a noteworthy indication that suggests a potential downward pressure on oil prices. Consequently, we should reevaluate our investment strategies and exercise caution before making further commitments in the oil market. Given this information, I encourage you to hold on to your existing oil positions and refrain from further investing until we witness more precise market signals. It is essential to closely monitor the market and observe the subsequent price action to understand the potential trend direction better. As always, it is essential to remember that market conditions can change rapidly, and it is crucial to remain vigilant and adaptable. I recommend staying updated with the latest market news and conducting thorough research before making investment decisions. Please comment with me if you have any questions or require further clarification. I am here to assist you and provide additional insights to help you navigate these uncertain times.
OANDA:BCOUSD
by bryandowningqln
Capitalize on the Crude Surge! Exciting Opportunities Await!After months of languishing, crude oil has skyrocketed above $80 a barrel in London, signaling a remarkable recovery in fuel demand across China and other regions post-pandemic. But that's not all! Brace yourselves for an even more thrilling development: production cutbacks by Saudi Arabia and its OPEC+ allies are poised to deplete storage tanks worldwide rapidly. Now, I know what you're thinking - what does this mean for us? Well, my fellow traders, we are on the verge of an extraordinary opportunity to capitalize on this crude surge! The stars have aligned, and it's time to consider long oil positions that could potentially yield substantial profits. As fuel demand continues to soar, propelled by China's impressive recovery and other countries following suit, the global oil market is set to witness unprecedented growth. With Saudi Arabia and OPEC+ allies tightening their grip on production, storage tanks are expected to drain rapidly, creating an environment ripe with potential for traders like us. So, why wait? Seize the moment and take advantage of this exciting turn of events! Consider long oil positions and position yourselves to ride the wave of this remarkable crude surge. You'll strategically position yourself to maximize your gains and potentially reap substantial profits by doing so. Remember, timing is everything in the trading world, and this is a prime opportunity that cannot be ignored. Don't let this thrilling chance slip through your fingers. Take action now and dive into the world of long oil positions to unlock the potential for extraordinary returns. If you have any questions, need further guidance, or want to discuss this thrilling opportunity, please comment away. I am here to support and assist you every step of the way.
NYSE:BCOLong
by bryandowningqln
Oil One Step From a Major Buy SignalThursday brings us a short update on brent oil. This instrument has been heavily bombarded recently by the macro data, not only for oil, but also the macro data for the USD. Let’s start with the one for oil. Yesterday’s inventories. Data came in hot (bullish for oil) as the number were significantly below expectation, showing a decrease of 4.5 mln barrels from the previous week. Well, how about that? As for the USD, yesterday’s less hawkish FED was bearish for the dollar, so again, bullish for instruments quoted in the dollar like our oil. So, we had two positive sets of information for oil and yes, brent used it wisely. Oil One Step From a Major Buy Signal As was widely expected, the Federal Reserve raised its policy rate by 75 basis points (bps) at the July meeting, taking the target rate range to 2.25%–2.5%. This is just below the Fed’s estimate for a neutral policy stance in the longer run (2.5%). At the press conference, Chair Jerome Powell said that “modestly restrictive” monetary policy is warranted by the current economic fundamentals, including elevated inflation, and mentioned that another outsize rate hike may be necessary at the next meeting in September in order to ensure monetary policy is restrictive. The overall movement of gold prices was bearish since inflation numbers rose and the U.S dollar index moved bullishly. However, there might be a change in the situation as gold prices currently moving upward while the U.S dollar index stalled and the stock market is trading slightly lower. If gold prices could continue the bullish movement and close above $1,800 then the bullish trend is set to continue. Silver prices bounced from the $18.50 support level and made a bullish close yesterday. There is a bullish continuation in today’s trading session which brings the price near the $20.00 handle. If the price could maintain the bullish pressure and continue upward to close above $21.35 then the price will start a new bullish trend. Crude oil prices situation is not good for the bull as the price could not maintain the bullish pressure. There is a bullish attempt today but the price currently trading below the opening level. If the price is pushed lower and closes below $95.25 then traders will prepare for a bearish continuation. How far will OIL GO UP? Well, if you ak this question then you are no professional, experienced trader, but a naive one, and have not understoad the purpose of trading. Keep it simple. Keep your stops alert.
OANDA:BCOUSDLong
by DaveBrascoFX
CRUDE OIL STRONG SHORT BULLS LOSING MORESTRATEGY SHORT MORE ADDITIONAL SHORTS WTI bears waiting to pounce but bulls are strong West Texas Intermediate, WTI, has rallied towards a key resistance area as the following charts will illustrate. However, while a subsequent sell-off might be expected while on the front side of the bearish trendline resistance, there has been a firm layer of support put together near $74.00. The US oil benchmark is down 4% so far this week, extending a 5.6% drop from the previous period. Data on Thursday showed US economic growth missed forecasts in the first quarter, while a key measure of inflation rose to a one-year high. Investors now brace for future hikes, with the Federal Reserve and European Central Bank set to raise interest rates again in May. Meanwhile, the latest EIA report revealed US crude inventories decreased by 5.054 million barrels last week, far exceeding expectations of a 1.486 million barrel draw. Morgan Stanley Cuts Oil Price Forecast After OPEC+ Decision While some analysts started talking about $100 after the surprise OPEC+ cuts, Morgan Stanley is cutting its price forecasts for this year and next, viewing the latest move as a probable admission from the biggest producers in OPEC+ that demand may not be doing too well in the coming months. “OPEC probably needs to do this to stand still,” Martijn Rats, chief commodity strategist at Morgan Stanley, says, as carried by Forexlive. However, the decision “reveals something, it gives a signal of where we are in the oil market. And look, let’s be honest about this, when demand is roaring…then OPEC doesn’t need to cut,” Rats noted. So the U.S. bank cut its Brent Crude forecast for the second quarter of 2023 to HKEX:85 from HKEX:90 a barrel previously expected. The third-quarter forecast was also cut by HKEX:5 a barrel—to HKEX:90 from HKEX:95 , while the fourth-quarter price estimate was slashed to $87.50 from HKEX:95 per barrel. Morgan Stanley also slashed its forecast for Brent’s 2024 average to HKEX:85 from HKEX:95 a barrel. Citigroup doesn’t see $100 oil soon, either.
CAPITALCOM:OIL_CRUDEShort
by DaveBrascoFX
BCOUSD Potential for Bearish Drop to overlap supportLooking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for an immediate sell entry at 82.681, to ride the bearish momentum. Stop loss will be at 83.944, where the 38.2% Fibonacci line and overlap resistance is. Take profit will be at 79.072, where the previous swing low and overlap support is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
OANDA:BCOUSDShort
by VantageMarkets
1
BCOUSD Potential for Bearish Drop | 22nd February 2023Looking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for an immediate sell entry at 8259.0, to ride the bearish momentum. Stop loss will be at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Take profit will be at 7906.3, where the previous swing low and overlap support is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FOREXCOM:UKOILShort
by Rockqet
BCOUSD Potential for Bearish Drop to previous swing lowLooking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Stop loss will be at 8673.5, where the recent swing high is. Take profit will be at 7902.9, where the previous swing low is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
OANDA:BCOUSDShort
by VantageMarkets
BCOUSD Potential for Bearish Drop | 21st February 2023Looking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Stop loss will be at 8673.5, where the recent swing high is. Take profit will be at 7902.9, where the previous swing low is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FOREXCOM:UKOILShort
by Rockqet
BCOUSD Potential for Bearish Drop to previous swing lowLooking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Stop loss will be at 8673.5, where the recent swing high is. Take profit will be at 7902.9, where the previous swing low is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
OANDA:BCOUSDShort
by VantageMarkets
BCOUSD Potential for Bearish Drop | 20th February 2023Looking at the H4 chart, my overall bias for BCOUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a pullback sell entry at 8392.4, where the 38.2% Fibonacci line and overlap resistance is. Stop loss will be at 8673.5, where the recent swing high is. Take profit will be at 7902.9, where the previous swing low is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FOREXCOM:UKOILShort
by Rockqet
BCO Potential Rise to recent swing highLooking at the H4 chart, my overall bias for BOC is bullish. Expecting the price to retest at the overlap support level. Looking for a pullback entry at 8353.2 where the 50% Fibonacci line is. Take profit at 8672.6 where the recent swing high is, and stop loss at 8208.8 where the 61.8% Fibonacci line is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FOREXCOM:UKOILLong
by Rockqet
3
BCOUSD Potential for Bullish Rise | 16th February 2023Looking at the H4 chart, my overall bias for BCOUSD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Looking for a buy stop entry at 86.888, where the recent high is to ride the bullish momentum. Take profit will be at 90.439, where the overlap resistance and 61.8% Fibonacci line is. Stop loss will be at 83.853, where the recent low is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
OANDA:BCOUSDLong
by Rockqet
BCOUSD Potential for bullish rise towards overlap resistanceLooking at the H4 chart, my overall bias for BCOUSD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Looking for a buy entry at 86.682, where the 50% Fibonacci line is. Stop loss will be at 85.401, where the recent low is. Take profit will be at 90.439, where the overlap resistance and 61.8% Fibonacci line is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
OANDA:BCOUSDLong
by VantageMarkets
BCOUSD Potential for Bullish Continuation | 27th January 2023Looking at the H4 chart, my overall bias for BCOUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a buy entry at 86.647, where the 50% Fibonacci line is. Stop loss will be at 85.401, where the recent low is. Take profit will be at 90.439, where the overlap resistance and 61.8% Fibonacci line is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
OANDA:BCOUSDLong
by Rockqet
BCOUSD Potential for Bearish Continuation| 28th Sept 2022On the H4 chart, the price is on a strong bearish trend. To add confluence to this, the price is below The Ichimoku cloud indicates a bear market. Looking for a possible pullback sell entry at 88.913 where the 50% Fibonacci retracement line is. Stop loss will be at 93.970 where the previous swing high is. Take profit will be at 83.024 where the 161.8% Fibonacci extension line is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
OANDA:BCOUSDShort
by Rockqet
1
BCOUSD Potential for Bearish Continuation| 27th Sept 2022On the H4 chart, prices are moving in a descending manner hence we are bearish biased. Price is also below the Ichimoku cloud which adds confluence to the bearish market. We are looking for a retracement sell entry at 88.639 where the 50% Fibonacci line and 100% Projection line are. Stop loss will be at 93.423 where the previous swing high is. Take profit is 83.024 where the 161.8% Fibonacci extension line is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
OANDA:BCOUSDShort
by Rockqet
2