#BRN #Buy_limit#4h
#r/r:1/11
#Buy_limit
#First, we wait for the pattern to be completed and enter after confirming the indicator.
#The pattern of 3 valleys is forming.
#There is a new demand area.
#Divergence in the rsi indicator.(RD+)
🛢️ Oil Bearish possible retrace to 70 USD 🛢️🛢️ Oil Bearish possible retrace to 70 USD. 🛢️
The oil market has been experiencing a bearish trend, with prices potentially retracting to $70 USD. This downward movement can be attributed to a confluence of factors that are exerting pressure on oil prices.
**Economic Headwinds and Oversupply Conc
Brent Crude is showing major upside to come to $96.00Ascending Triangle has formed on Brent Crude.
We saw the price continue to knock up the resistance until it broke above.
Price>20 and Price>200
So the target is likely to hit $96.00
When the US Dollar depreciates, it often leads to a rally in Brent Crude prices for several interconnected reas
A Sell on the Rise StrategyFrom a long-term perspective, Oil, in this case, we use the Brent Last Day Financial by NYMEX CME, overall is trending downward!
It would be tempting to initiate a “sell on rise strategy” especially when a long term trend line (in blue) is challenged. The trend line majors the historical highs of
Brent Oil futuresI know this is crazy and all but hypothetically this is a "Head and shoulders" pattern. Right shoulder bounced from the level of support. But there is a slight possibility to go through it. If we calculate related levels then we will face great price drop.
BRN - CRUDE OIL Short opportunity📉 Breaking News: BRN Crude Oil Faces Bearish Pressure Amidst Global Uncertainty
Interest Rate Concerns: Federal Reserve Governor Christopher Waller’s recent comments hinting at delayed interest rate cuts have raised concerns about sluggish economic growth. As a result, oil demand is expected to be
NYMEX Brent: Building up Bearish BiasOil reversed gain quickly after the multifaceted sword chopped whatever little was left of supply-side momentum, keeping Oil prices afloat. The US labor market’s resilience pushed back hopes of potential “FED Monetary easing” until the second half of the year while the budding US banking crisis shoo
How to identify high quality Supply and Demand zonesSupply and demand zones are powerful tools to find high probability trades. If they are used in the correct context they offer a high win rate and a very controled risk. These are some of the characteristics that high quality zones have:
•When a good zone is being created in real time you will watc
Brent Oil Dips Below $73/Barrel on WednesdayBrent oil prices fell below $73 per barrel during early Wednesday trading, carrying the momentum of the previous session and increasing losses to more than 10% this month. The price of the barrel has been in decline, weighed on by worries over future demand. This sentiment was exacerbated by yesterd
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Frequently Asked Questions
The nearest expiration date for Brent Crude Oil Futures (Jul 2024) is May 31, 2024.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell Brent Crude Oil Futures (Jul 2024) before May 31, 2024.