SuperAbu

SuperAbu

Hi All, My forecast for brent is still bearish and heading to target price 75.96. However it has created a support line and possible to retrace back to 77.5 before heading further down or be more bullish and head to 78.1 Prepare for 2 direction.

SuperAbu

Hi All, At this moment we have put the price action in a zone of support and resistance. so this is my no trade zone area until one of the lines are broken. The overall direction is still down unless resistance has been broken. Target price for down is 79.9. Good luck

SuperAbu Updated 

Hi All, Today is Friday, normally not expecting a big move from oil, however we do have some target prices ready and prepared for a move. Since the overall price action is bullish, we expect target prices 79.2 and 79.6 to be hit today or next week when it breaks above the resistance line. When the buy volume is not there, we can expect a retracement when it can...

SuperAbu

Hi All, Sharing my daily forecast for Brent, based on the technical, brent is more bullish now and has the potential to hit 78.7 and 79.2 when there is buying volume in the market. When not, price will retract to 77.5 and when the sells are strong we can see price also hit 77. I have ghosted in candles as an illustration of where the price may go.

SuperAbu

Hi All, After a slow start to the move, price of Brent is crabbing along in the 75 - 76 range. It may continue to crab along for the remaining of the day until one of the support and resistance price are crossed. Currently looking at the chart, we can see brent hitting 77.04 after the price action earlier in the day it hit the bearish price of 75.75.

SuperAbu

Hi All, the minimum bearih target price has been hit as shared yesterday. For more bearish move it the price action has to go below 75.