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Oil giant

Brent oil may fall into $55.21-$55.58 range
Markets

Brent oil may fall into $55.21-$55.58 range

  • On the daily chart, the correction is classified as a pullback towards a former resistance at $54.62, now a support. Wave pattern suggests the progress of a powerful wave C, which is capable of travelling to $66.29, its 100% projection level.
Published 14 Jan, 2021 12:08pm
US oil may test resistance at $49.83
Markets

US oil may test resistance at $49.83

  • On the daily chart, the uptrend looks steady. Wave pattern seems to be clearer. Based on the assumption that the wave 5 would be equal to the wave 1, the trend may extend far above $52.01.
Published 04 Jan, 2021 09:55am
Brent oil may fall towards $47.81
Markets

Brent oil may fall towards $47.81

  • The support is identified as the 23.6% retracement of a five-wave cycle from $39.34. The wave c is expected to travel to $47.81, its 100% projection level.
Published 23 Dec, 2020 10:30am