Tag Archives: brent

Brent Crude 3-Year weekly chart

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Major psychological support level for Brent is 50 Next? 40
Major support level for brent is 50

Brent 3-Year Weekly Chart

The major trend is down and the major psychological support level is 50. Barring a major geopolitical event, there is a high probability this level will not hold. I continue to be short and will keep the short position until the charts indicate a reversal of the downtrend.

Cheap Oil’s Dark Shadow

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“The pressure starts when you execute the trade.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca

WTI and Brent weekly chart

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No celebrations in the oil patch

WTI and Brent weekly chart showing the break below 55 for WTI and 60 for Brent.

WTI and Brent weekly chart showing the intermediate downtrend. WTI could not hold above 55 for the year-end. Brent could not hold above 60. One can only conclude that the price of both grades is going lower unless there is a significant geopolitical event.

Reference my post from November 28, 2014: Barring a major supply disruption, Brent is heading lower

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“It is all about probabilities”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2014 TradeOnline.ca

TSX sector performance for the past 6 days

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Energy sector leading the pack

TSX sector performance over the last 6 days. Energy sector leading the pack.

Reference the last sector performance for the Canadian market based on the ytd numbers. If I use the word “oversold” for energy then this is the reason for the year-end pop. But oil is still searching for a bottom and the smaller players will not participate in this rally. That advance will have to wait for more clarity on the direction for oil as WTI attempts to hold $55 and Brent attempts to hold $60.

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“It is all about probabilities”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2014 TradeOnline.ca

WTI and Brent 3-Year chart

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WTI trying to hold 55. Brent trying to hold 60

WTI and Brent 3-Year chart showing the intermediate downtrend

Some points from the above chart for WTI and Brent:

  • Intermediate trend is down for above grades
  • WTI attemping to hold 55
  • Brent attempting to hold 60
  • Differential is now only $4.47

Opec leader vows not to cut oil output even if price hits $20……………

In the MEES interview, Mr Naimi said Saudi Arabia and other Gulf oil producers would be able to withstand a long period of low crude prices, largely because their production costs were so low — at only about $4-$5 a barrel.

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“It is all about probabilities”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2014 TradeOnline.ca

Brent crude daily chart

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Brent is still searching for a bottom!
Brent crude daily chart

Brent Crude Daily Chart

Reference the last chart analysis for Brent.

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“It is all about probabilities”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2014 TradeOnline.ca

Where is the bottom for WTI and Brent?

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DOWN – that describes the intermediate and near-term trends

One year daily line chart for WTI and Brent showing the intermediate downtrend.

Reference the last chart analysis for Brent.

Oil prices drop to 5-year low of $68 as Saudi Arabia ramps up war for market share

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“It is all about probabilities”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2014 TradeOnline.ca

Brent found tentative support at 70 as the shorts covered

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But, the intermediate trend for Brent is down
Intermediate trend is down for Brend Crude with tentative support at 70

Brent 6-Month Daily Chart

There is a high probability Brent Crude will test 70 again. Is 70 the end of the long slide? Reference my chart published on November 28, 2014: Brent Crude Oil chart analysis – $60? $40?

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“It is all about probabilities”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2014 TradeOnline.ca

Brent Crude Oil chart analysis – $60? $40?

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Barring a major supply disruption, Brent is heading lower

Daily chart for Brent showing the reaction OPEC decision not to cut production

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Weekly chart for Brent

Weekly chart for Brent Crude Oil.

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Bloomberg chart predicting Brent at $60

Bloomberg chart-Oil Price Weakness Likely to Persist_2014-11-28

OPEC’s decision not to try and eliminate an oil-supply glut means the biggest crash in six years won’t stop until prices reach $60 a barrel, according to firms including Nomura Holdings Inc. and Deutsche Bank AG……………….

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“Keep it Simple!”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.