On DAILY: CRUDE OIL is sitting around a strong resistance zone in green and filling the GAP so we will be looking for objective sell setups on lower timeframes. on M30: CRUDE OIL is testing a supply zone in green and forming a channel in red (not valid yet) so we are waiting for a new swing to form around our lower red trendline to consider it objective and sell...
Update on below idea: Still believe oil is in a corrective pattern; either WXYXZ up to $41 area, or WXY is already completed at $40,58 and we're in wave 2 of an impulsive move down already. A break above $40,58 invalidates the wave 2 idea, a break above $41,62 invalidates the WXYXZ idea.
Hi everyone. My analysis done for my main timeframe 5m. I start from higher timeframes and move down to lowest m5. As my analysis is already done, I'm publishing matrix levels also for h1 for mid term traders. If somebody is interested in higher timeframes such as D1, W1 please let me know in comments and I will publish these levels too. Futures contract for...
Hi everyone. My analysis done for my main timeframe m5. I start from higher timeframes D1, H1 and move down to lowest m5. Futures contract for Brent crude , London exchange ICE 09-20 My trading is based on market phases by Wyckoff. For timeframes m5: Buy on the test of level 42.18, target 42.60, target2 43.00 Sell 41.05, target 40.55 Trading on m5 timeframe.
Here on UK Oil we have a bat pattern and the PRZ is lined up beautifully with a major resistance level!
You will learn the best place where we can trade this instrument at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my...
Price has consolidated, forming an Ascending Triangle. As Price is above the 200EMA, I anticipate a breakout to the upside and will seek confirmation of the breakout with a close above $42 (orange line). Target #1: ~$45 (Closing the gap down from 6th March lows) Target #2: $50 (Confluence zone of 61.8% from Jan highs + 127% fib extension from April lows)
Hi everyone. My analysis done for my main timeframe m5. I start from higher timeframes D1, H1 and move down to lowest m5. Futures contract for Brent crude , London exchange ICE 09-20 My trading is based on market phases by Wyckoff. For timeframes m5: Buy on the test of level 41.95, target 42.40, target2 42.90 Sell 41.50, target 41.00, target2 40.55, target3...
Update on below idea: Oil now hit the .618 level and what could be an ABC completed...is oil on the brink of collapse?
We got the first leg down (A) of the second drop ((W)) to complete the big consolidation (((4))). I expect the retracement (B) to emerge soon to reach between 41.60 and 42.20 I highlighted the historical pullback with green ellipse for sample. Another drop down (C) could undershoot at 37.51, ((Y))=((W)) or overlap beyond the terminal point of wave ((W)) below 36.99.
Main items we can see on the chart: a) From the Contracts going to negative territory in April, we saw a huge reversal movement b) Currently, the price is moving between 40 and 35 US Dollars a barrel c) Based on the Support zone the price is on, we are waiting for a retest of it, as the first corrective Structure d) If that happens we will have a...
Hi everyone. My analysis done for my main timeframe m5. I start from higher timeframes D1, H1 and move down to lowest m5. Futures contract for Brent crude , London exchange ICE 09-20 My trading is based on market phases by Wyckoff. For timeframes m5: Buy on the test of level 41.00, target 41.60 Sell 39.90, target 39.45, target2 38.75 Trading on m5 timeframe.
Everything is waiting for Oil to reverse imho, and one last stock market upside rally will be witnessed. See related ideas for inter-market correlations when USD is about to roll over. Affects Brent and other commodities. When the world reserve currency rolls over expect all financial markets to be affected. UJ Seasonality opening bell in the making..
To me it looks like oil is in the early stages of C or wave 3, in addition there appears to be a head & shoulder formation after price hit the 0.5 level. Oil could hit the 1:1 extension at $34,89 to complete a C wave and bounce up to a new high above $41,63, or push down much further to 1.618 extension at $32,12 to complete a wave 3 of deeper C.
The chart provides a grid of Fibo extensions and Pitchforks for Brent Crude Oil. The price is literally in front of the massive transient zone with 25% distance. On the spot of the short seller I would be worried. Shorts are very dangerous. Good Luck!