UK Brent Oil 4H : Under sell pressure

6 нояб. 2023 г.

UK OIL

New forecast

The price of Brent crude futures faced strong negative pressure to break the level of 86.68 and closed the daily candle below it, heading towards achieving an expected decline during the coming sessions, targeting targets at 84.50, and by breaking it, it will reach 83.80 as a main negative station.

Therefore, a bearish bias will be expected for today, supported by the negative pressure formed by the 50 moving average, noting that breaching 87.10 and holding above it will stop the current negative pressure and push the price to recover again.

The expected trading range for today is between support 84.50 and resistance 87.10.

Be careful because of the war between Palestine and Israel, we may witness unexpected movements .

support line : 84.50 , 83.80
resistance line : 87.10 , 88.38

Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️

7 нояб. 2023 г.

Сделка закрыта: достигнута тейк-профит цена

UK BRENT

New forecast

The price perfectly fulfills my last idea and price reached to our targets and still running +300 pip.

The price of Brent crude futures fell and reached our targets, and its negative trading continued to exceed the 84.50 barrier, confirming the continuation of the bearish trend’s control during the coming sessions, and by breaking the 83.17 level, it will reach 82.41.

From here, the downward tendency will remain in place over the immediate term, organized within the downward channel that appears on the chart, remembering that the continuation of the downward wave depends on stability below the 84.50 level.

The expected trading range for today is between support 82.41 and resistance 84.50.

Be careful because of the war between Palestine and Israel, we may witness unexpected movements .

Additionally ,Today News will affect the market .

support line : 83.17 , 82.41
resistance line : 83.80 , 84.50

Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️

8 нояб. 2023 г.

Сделка закрыта: достигнута тейк-профит цена

UKOIL

Update

The price perfectly fulfills my last idea and price reached to our target + 240 pip, and still running...

The price of Brent crude oil dropped and achieved a strong break to the level of 83.17 and pushed downwards to reach our extended target, which is at 81.35, awaiting further decline expected during the coming sessions to targeting the 80.00 and 78.29 levels .

Therefore the downtrend scenario will be remain valid and effective during coming period and the moving average 50 supports the continuation of the expected downward trend, while paying attention to the importance of stability below 83.17 to achieve the expected goals.

The expected trading range for today is between support 878.29 and resistance 83.17.

Be careful because of the war between Palestine and Israel, we may witness unexpected movements .

Additionally ,Today News will affect the market .

support line : 80.00 , 78.29
resistance line : 83.17 , 83.17

Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️

8 нояб. 2023 г.

Сделка закрыта: достигнута тейк-профит цена

UKOIL

The price perfectly fulfills my last idea and price reached to our targets +170 pip.

if you want to hold put SL at entry .

9 нояб. 2023 г.

Сделка закрыта: достигнута тейк-профит цена

UK BRENT OIL

Update

The price perfectly fulfills my last idea and price reached to our target +170 pip .

The price of Brent crude futures succeeded in achieving our expected target at 80.00 and exceeding it to close the daily candle below it, confirming the continuation of the bearish trend’s dominance during the coming sessions, opening the way to achieving additional negative targets that reach the 78.30 and 77.53 areas.


Therefore, the downward trend scenario will remain valid and effective, supported by the 50 moving average, which is putting negative pressure on the price, keeping in mind that breaching 81.35 will stop the current negative pressure and push the price to attempt to build an upward wave in the immediate term. so it is possible to do a retest to 81.35 and then drop.

The expected trading range for today is between support 78.29 and resistance 83.17.

Be careful because of the war between Palestine and Israel, we may witness unexpected movements .

Additionally ,Today News will affect the market .

support line : 80.00 , 78.29
resistance line : 81.35 , 83.17

Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️