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Crude Oil Brent

Crude Oil Elliott Wave IdeaWorking in the oil & gas industry I've always wanted to plot an Elliott Wave idea with oil reaching $100, one that I felt was realistic and not pie in the sky...in my opinion oil is heading that direction now. The exact 0.382 retracement level from $44,05 to $33,79 at the end of 2020 leads me to believe that was the end of wave 2 and the next retracement will begin at the 1.618 level around $77 for wave 4, before wave 5 towards $100. I had a similar idea back when this move from $33 started () that this move could be wave 5 but its flown far beyond those levels and has me thinking this is wave 3 we are in now, and its not quite finished yet.
NYMEX:CL2!
by Joseph_King
4
UKOIL (Brent Crude Oil) : 1Month TFWell, as we can see, we are technically reviewing Brent oil charts at monthly timeframes. The price finally broke its 13-year downtrend last month ... (This break needs to be stabilized) Currently, the most important support range for Brent oil is from $ 72 to $ 76 ... Brent oil currently has a significant static resistance of $ 85 and we have to see if it can break this resistance after 3 years and pave its way to climb or not. ⚠️ This Analysis will be updated ... TVC:UKOIL 👤 Arman Shaban : @Ar_M_An_4 📅 02.Oct.2021 ⚠️(DYOR)
TVC:UKOIL
by ArmanShabanTrading
11
USOIL (WTI Crude Oil) : 1Month TFWell, as we see in the monthly time frame of the US Crude Oil Chart, the price in February finally broke its 13-year downward trend ... After that, it continued to grow well and reached its static resistance level in July 2021, and It failed to defeat it and then rebounded to its broken support level in August. Last month, the price reached to the psychologically and Impostant resistance level which is 77$ ... we have to see if the price can finally break this important 3-year resistance in October or what ... ⚠️ This Analysis will be updated ... TVC:USOIL 👤 Arman Shaban : @Ar_M_An_4 📅 02.Oct.2021 ⚠️(DYOR)
TVC:USOIL
by ArmanShabanTrading
13
UKOIL facing bearish pressure, drop incoming!UKOIL is holding below 1st resistance at 79.28 in line with 61.8 Fibonacci retracement and 38.2% Fibonacci extension and may bearish towards 1st support at 76.10 in line 61.8% Fibonacci retracement and 161.8% Fibonacci extension. Our bearish is further supported by how MACD is showing a bearish signal where the signal line is above the MACD line. Otherwise price may bullish towards 2nd resistance at 80.72 in line with Horizontal swing high and 61.8% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKOILShort
by TradeGATEHub
Education excerpt: OPECThe Organization of the Petroleum Exporting Countries (OPEC) The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization with main goal to coordinate and unify the petroleum policies of its member countries. This pertains mainly to securing fair and stable pricing in the oil market; efficient and regular supply of petroleum to consuming nations and fair return on capital to the producing countries. The OPEC was established in Baghdad, Iraq in 1960 by five countries. Founding countries were: Iraq, Islamic Republic of Iran, Kuwait, Saudi Arabia and Venezuela. One year later the organization was joined by Qatar in 1961. After that Indonesia and Libya followed in 1962. United Arab Emirates joined the cartel in 1967 and Algeria in 1969. Then Nigeria became member of the OPEC in 1971, Ecuador in 1973 and Gabon in 1975. Few decades later, Angola joined the OPEC in 2007, Equatorial Guinea in 2017 and Congo in 2018. Ecuador suspended its membership in 1962. However, it rejoined the cartel in 2007. But then again in 2009 Ecuador withdrew its membership from OPEC. Similarly, Indonesia suspended its membership in 2009 and rejoined the cartel in 2016 only to leave it again in 2016. Gabon also suspended its membership in 1995. Although, Gabon reactivated its membership in 2016. Qatar was the last country to terminate its membership in 2019. Current members: 1. Iraq 2. Iran 3. Kuwait 4. Saudi Arabia 5. Venezuela 6. Libya 7. United Arab Emirates 8. Algeria 9. Nigeria 10. Gabon 11. Angola 12. Equatorial Guinea 13. Congo The OPEC's executive organ is called the Secretariat and it is run by the Secretary General. Secretariat was originally established in 1961. It also functions as headquarters for the organization. In the beginning, OPEC had its headquarters in Geneva, Switzerland for five years. However, OPEC's headquarters were moved to Vienna, Austria in 1965. Executive organ is responsible for implementation of all resolutions passed by the Conference. Secretariat also conducts research and fullfills all decisions made by the Board of Governeros. The Secretary General is the representative of the OPEC who simultaneously acts as Executive of the Secretariat. The Secretary General is electable role and its term last three years. Although, there is possibility to renew this term once. The Secretary General is assisted by the Office of the Secretary general and several other officers and staff members of the OPEC. The Office of the Secretary general helps the executive chief of the Secretariat to maintain efficient relations with relevant international organizations and governments. Another important organ of the organization is the Legal Office which supervises legal matters of the Secretariat and provides legal advice to the Secretary General. In addition to that, there is also the Research Division that consists of three departments: Data Services, Energy Studies and Petroleum Studies. The Research Division is responsible for conducting research with regards to the energy and related matters. Infrastructure and services are provided by the Support Services Division. OPEC Fund The OPEC Fund for International Development is international finance development institution that was established in 1976. It consists of 12 members: Algeria, Ecuador, Gabon, Indonesia, IR Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela. Its purpose is to provide financial help to the developing countries and support advancement in these low-income and middle-income countries. Disclaimer: This content serves solely educational purpose.
TVC:USOILEducation
by Tradersweekly
6
CRUDE OIL (WTI) Year's High Ahead! Important Update 🛢 Hey traders, WTI Oil is approaching a key weekly/daily structure resistance. 76.8 - 77.2 is our potential reversal zone. Being heavily overbought, we may catch a pullback from that. Our confirmation will be a bearish breakout of a rising channel on 4h. In case of a 4H candle close below its support, a bearish continuation will be expected. Goals will be: 74.0/73.0 Alternatively, in case of a daily candle close above the underlined zone, a bullish continuation will be expected. ❤️Please, support this idea with like and comment!❤️
TVC:USOILShort
by VasilyTrader
14
An Impulse of Intuition, An Ideal time to Sell your Oil 🛢️⛽🖼️Perhaps the seed of Charting Rbob Gasoline Earlier. This Black Gold stuff is a slippery liquid. Oil seems to be stealthy making lower lows & perhaps about to make a lower high. Have to be slick to market time the ole WMD. *Short ideas are SELL ideas only, don't support outright short selling.* Peek the detailed breakdown notes in the high def chart links below : TVC:USOIL AMEX:USO LSE:PBRT NYMEX:CL1! TVC:UKOIL NYMEX:BB1!
TVC:USOILShort
by d-MR96nBa
4
UKOil is in the bullish area but is oversold on the dailyThe left chart shows the daily time frame. Here we see that UKOIL is in the bullish area – between the upper blue and upper red bands. The RSI suggests that the daily chart is overbought and that normalization is due. The right chart shows the hourly time frame. As long as the stochastic is able to hold the 80 level, the current momentum push may still be in force. However, given the overbought daily condition, it may be appropriate to wait for the normalization with an aim to exploit the dip in the uptrend, given the opportunity.
FX:UKOILLong
by FXCM
UKOIL monthly technical analysis !TVC:UKOIL Hi everyone , I hope you're all fine . - UKOIL has recently broke downtrend and also the price had a pullback to the broken trendline - Also the price is is moving in a ascending channel --------------- the next resistances would be : 1- 86.70 (which is the top of channel and also last resistance 2- 116.00 (which is a nice resistance with 4 touches since 2012 and 2016 until now now let's see some fundamental info about OIL : - US crude inventories fell more than expected last week, hitting a three-year low, according to the US Petroleum Institute and the US Energy Information Administration. The upward trend in natural gas is likely to lead to increased demand for black gold. This year, crude oil has grown by more than 80 percent since the beginning of the year, as the global economic recovery from the Corona outbreak significantly boosted demand. On the supply side, OPEC Plus members are also gradually reducing their production restrictions. In addition, Hurricanes Ida and Nicholas affected production in the United States. The Gulf of Mexico was hit hard in late August (early September) and September (early October), respectively. Given the imminence of the fourth quarter and the winter season in the Northern Hemisphere, some investors predict a continued upward trend in prices. The Goldman Sachs Group (NYSE: GS) said the market deficit was higher than expected, raising Brent oil forecast from $ 10 to $ 90 a barrel at the end of the year . Source : Investing.com ----- so what's your opinion guys ?? we'd be glad to see your idea in comments .
TVC:UKOILLong
by mahdirhimi