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Oil - Brent (UKOIL)OO

Oil - Brent (UKOIL)

70.208USDR
+0.914+1.32%
At close at Mar 7, 21:58 GMT
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OIL_BRENT trade ideas

Oil May Correct UpOil prices dropped more than $1 on Tuesday due to skepticism over an OPEC+ decision to increase supply later this year, amidst already weak global demand. Extending losses from the previous session, Brent crude futures fell $1.11, or 1.4%, to $77.25 a barrel, hitting a low of $76.76. U.S. West Texas Intermediate (WTI) crude futures declined by $1.09, or 1.5%, to $73.13. OPEC+ agreed on Sunday to extend most oil output cuts into 2025 but allowed for gradual unwinding of voluntary cuts from October. This raised concerns about oversupply, especially with high interest rates and weak economic signals from the U.S., China, and Europe affecting oil demand. Non-OPEC producers, particularly the U.S., are also increasing supply. Market strategist Yeap Jun Rong noted that further evidence of economic weakness could push oil prices even lower. The U.S. government is set to release inventory and demand data on Wednesday, which will indicate gasoline consumption during the Memorial Day weekend, marking the start of the U.S. driving season.
CLong
by sabiotrade
Brent $: might it be the move this time?Been struggling with the price action. A price action above 83.50 supports a bullish trend direction. Crossing above its 200-day will act as further bullish support. The target price is set at 88.00 (its 23,6% Fibonacci retracement level). The stop-loss is set at 82.00 (its 50% retracement level). A bullish crossover on the MACD (see the lower panel) highlights a change in trend direction to bullish. This crossover is also in oversold territory.
TLong
by Peet_Serfontein
A rebound in Crude Oil prices is on the horizon.Since the beginning of the month, there have been signs that crude oil has been falling and this has continued into today's Asian opening at a total of -9.11%. OPEC+ (OPEC with Russia and its allies) wanted to impress the market by extending the mandatory cuts, but the market has turned its attention to the voluntary cuts. The reversal of these cuts has set off a chain of unparalleled bearish movements that have pushed the value of Brent crude from its recent highs of $84.66 to a low of $76.71 a barrel. It is clear that this weekend's meeting was aimed at giving an image of solidity, prolonging, as we said, these cuts and showing a certain unanimity. But Monday's 4% drop on Monday has continued to generate a “Technical Abyss”. Both West Texas and Brent are close to this year's lows. The market reaction has clearly been depressing for any oil producer, and this will obviously help consumers to rejoice. After such a contrary outcome, it would be foreseeable that they will gradually reverse the voluntary cuts, at least looking ahead to October of this year since they started the cuts in November of last year. If we look at it in aggregate terms, what OPEC+ has done is to start opening the taps and estimates indicate that by 2025 Russia and the United Arab Emirates will be producing 100,000 barrels more than at present, and Saudi Arabia will be producing around 500,000 barrels more. Surprisingly, inventories have surprised expectations on the upside and there are now downside risks to the $75 to $90 range for Brent according to analysts at Goldman Sachs. The same has occurred in other commodities, which have fallen around 1%, as is the case of copper and iron, and only aluminum and copper saved the session in positive territory. The latter has experienced an intense plunge of 8% since it reached its highs. If we look at the chart, yesterday's and today's downward movement has closed a price movement that began in February. Now we will have to see if this movement continues, but the RSI is marking 15.02% oversold, which could be marking a possible correction to the $82 area. Ion Jauregui - ActivTrades Analyst ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
ALong
by ActivTrades
Brent Oil Slides Despite OPEC+ CutsOPEC and allies including Russia, have been implementing a series of supply reductions since late-2022, which have helped support oil prices and on Sunday they agreed to prolong those curbs . Around 3.66 million barrels (mbpd) of cuts that were due to expire at the end of the year were rolled over into 2025. The most recent tranche of 2.2 mbpd that would expire at the end of the month was extended into Q3 and will be phased of gradually after that. The decision keeps current total reduction cuts at nearly 5.9 mbpd and almost 6% of global output. On the other hand, members will start tapering some of those curbs over a 12-month period starting in the fourth quarter and the detailed plan could hinder their ability to keep output lower, if such need arises. Furthermore, the group sidestepped the contentious issue of capacity, while compliance has generally been loose in the past. Brent oil slumps following the decision, as output will start to go up from October, just as non-OPEC countries like the US keep pumping oil. At the same time, demand growth is expected to decelerate sharply this year. Optimism for Middle East ceasefire, along with poor China PMIs, also contributed. UKOil is now exposed to this year’s lows (74.76), although breaching those of 2023 (70.09) is a much harder task. However, the deep output cuts by OPEC+ will lead to tighter market at least in the near term and this can continue to support oil prices. Furthermore, central banks are moving towards less restrictive monetary policies, which can also help. On the technical side, the RSI points to extremely oversold conditions that can contain the fall and give UKOil the opportunity to rebound. A return above the EMA200 (blackline) that would pause the bearish bias would need strong catalyst though and the upside is unfriendly. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video 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 interests 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 via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
FLong
by FXCM
POTENTIAL LONG OPPORTUNITY ON CRUDE OIL (BCOUSD) Hey everyone! Hope you're doing awesome! Just wanted to get on here and do a post on some potential upside I see here on Brent Crude Oil after today's price action! SO as you can see price has had a hard time breaking past the lows of 81.50-82.00 price handle. Price came down into daily demand and tried breaking lower to downside but now for the 3rd time being rejected to the upside...with buyers buying up this price not allowing it to go lower. This leads me to believe that there could potentially be a upside move for the next move for Crude Oil. Obviously you can see on the 1D (DAILY) timeframe right now the market is overall bearish...but price has now failed to make that new LL showing me potential for an overall pullback on this commodity. ALSO if you look at the 1W (WEEKLY) timeframe you can see that price is actually creating subtle higher lows in price (buyers taking worse prices) which displays to me a demand for this product and a next likely move being to the upside. On the hourly timeframes now you can see a shift to a bullish market which also gives the bias of the next move on this commodity being to the upside to upside supply around the $87 price point. Hope this brough some value to you guys! Please boost this post and follow my page for more accurate analysis! Cheers!
OLong
by JosePips
Oil Long Term View: Start of uptrend in Q4 2024, $125+ in 2025Short term potentially in a cup and handle pattern since June 2022, currently in the distribution stage around the bottom. Needs to close above 21M EMA for confirmation. An uptrend can start in Q4 2024, which would get the price to $125+ in 2025. Long term the price seems to be in an uptrend since 2016, if excluding the 2020 outlier. The resistance at 200M EMA seems to have changed into support. Momentum is beginning to increase to the upside, as liquidity and M2 money supply will increase beginning in Q3-Q4 2024.
TLong
by dumcom
1
Crude Oil / Brent Oil Robbery Plan in Bullish SideMy Dear Robbers / Traders, This is our master plan to Heist Crude Oil based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart. Our target is Red Zone that is High risk Dangerous level Police Force is waiting for our arrival, Market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money Use Trailing Stop To Protect Looted Money and wait for next breakout of dynamic level / Order Block, Once it is cleared we can continue our heist plan to next new target it will update after the Breakouts. support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
BLong
by Thief_Trader
BRENT. Weekly trading levels 27 - 31.05.2024During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. ! Please note that brokers have a difference in quotes, take this into account when trading. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me!
O
by Forex_Hoby
An idea for you tradesHello Everyone I want to say something that might be your strategy or you may criticize me about that but I am sure whoever disagrees with me about it is struggling to get profit in his account. Note: Always and always trade in a chart that is in a weekly trend. I man it does not matter what timeframe you are trading and with what method, it is incredibly vital that chose a trend (Bullish for long positions and Bearish for short positions) and never and ever try to trap yourself in a chart that is ranging in WEKLY TIMEFRAME. There are many reasons for that and I have paid a lot of money to learn it. The first reason is a lot of support/resistance level existing in this area that try to hit your Stops. Second reason is that we should follow the wales in every market and big whales do not waste their time and money for trading in this long term consolidations. Oil is a good example for now and I just want to say, these symbols are not ours and we should chose more profitable ones. This is the most reason that all charts do not move together and liquidity shifts between them. Thanks
TEducation
by AMA_FX
3
BRENT. Weekly trading levels 20 - 24.05.2024During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. ! Please note that brokers have a difference in quotes, take this into account when trading. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me!
O
by Forex_Hoby
Crude Oil Bullish Side Robbery Plan to make moneyMy Dear Robbers / Traders, This is our master plan to Heist Crude Oil based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart. There is Two Targets Our target is 1 & 2 Danger Logo and Red Zone that is High risk Dangerous level market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level, Once it is cleared we can continue our heist plan to next new target. support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
B
by Thief_Trader