Is the bottom in place for brent oil and if it is, what is the upside? We’ve made good profit from Brent Oil in the last 2 months because we understood the trend and we managed our risk accordingly. Things are now not so clear as the last spike down broke some key trend lines and the current move up is now slightly higher and faster than expected. So where… Read More »Brent Oil: Is the bottom in place?
Last week we said that Brent Oil looks like it will fall further – it has but we still think it has further to go. Key levels and trend lines have now been broken which means that there is opportunity for Brent Oil to fall lower and bounce off one of two long term trend lines. With this in mind we believe there will be a potential short entry this… Read More »Brent Oil still looking like it will fall further
The rally has failed on Brent oil. Many commentators are blaming the movements on the new Covid variant but the rally was breaking down well before then. We exited our long trade at $79.8 and we now have 2 targets which we are considering for long entries in December 2021. One target is at around $70.8 near the middle of December and the other around $68.2 just after Christmas. Over… Read More »Rally fails on Brent Oil. Could be more downside to come.
Brent Oil has surged $4 in less than 2 days putting our long trade well into profit and enabling us to adjust our stop to prevent losses. The next hurdle for Brent cure oil is on an unconfirmed trend line – currently around $85. A good stab at this leaves $90 in reaching distance but if it begins to misbehave we might leave this trade earlier. Disclaimer The content on… Read More »Brent Oil powers up despite doom and gloom
Brent oil is at a key support and a key trend line which gives us a compelling opportunity to go long. This is “low risk” but certainly not NO RISK as a secondary support line comes into play under $76.0. We have entered the market long at 78.4 and have a stop in place at $75.4. If the market falls to $76 and makes a good bounce we will likely… Read More »Brent Oil at key trend Support
We are following brent oil very carefully – it is our only open position. Brent is currently around $6 lower than our short entry and it has the potential to fall another $8. However we are concern that there is significant trend line support in the next few days at around $77.8 and $76.0 which could result in sideways to upwards consolidation which would scupper the move down. If decent… Read More »Brent Oil Price Outlook November 17 2021
The brent oil price is current just above $80 which is around $5 below our short entry zone which was hit almost a month ago. Looking forward our next low risk entry zone is still long. We are now able to calculate a narrower entry zone in terms of price and timescale. We currently expect price to bottom between $73.00 and $73.50 around the 17th December – give or take… Read More »Brent Oil Price Outlook November 15 2021
Our Brent Oil short is now 500 pips in profit and our calculations show it still has further to go. Whilst crude oil has paused at around $80 it should logically hit the next trend line which currently sits around $76.8. Stops should be placed along the “thick white line” so there are no excuses for making a loss on this trade. The next low risk entry point for Brent… Read More »Brent Oil Outlook November 4 2021
Our Brent Crude Oil short is still in play. Brent Oil attempted a rally yesterday but failed to touch the “Thick white line” we highlighted. Stops should still be kept at the entry point for anyone who went short on this trade but if crude oil can make a new “recent low” today the chances of downwards momentum towards our long entry zone increases. Disclaimer The content on this site… Read More »Brent Crude Oil Outlook November 3 2021
We’re keeping a careful eye on Brent Oil which still has some strength. Whilst it initially reacted quite nicely to our short entry zone it did not hit our important trend line. Brent crude oil is now heading back up to the entry level and a breach through the “thick white line” may indicate one more push up before the end of the year. As a result stops should be… Read More »Brent Oil Forecast Update November 2 2021