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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup
#BRENT
Total Profit: 6766 point
Closed trade(s): 3262 point Profit
Open trade(s): 3504 point Profit

Trade Setup:
We opened 9 SELL trade(s) @ 69.92 based on 'Peak' at 2019.05.22.

Closed Profit:
TP1 @ 68.50 touched at 2019.05.23 with 142 point Profit.
TP2 @ 67.00 touched at 2019.05.23 with 292 point Profit.
TP3 @ 66.05 touched at 2019.05.23 with 387 point Profit.
TP4 @ 64.00 touched at 2019.05.31 with 592 point Profit.
TP5 @ 62.35 touched at 2019.05.31 with 757 point Profit.
TP6 @ 59.00 touched at 2019.08.06 with 1092 point Profit.
142 + 292 + 387 + 592 + 757 + 1092 = 3262 point

Open Profit:
Profit for one trade is 69.92(open price) - 58.24(current price) = 1168 point
3 trade(s) still open, therefore total profit for open trade(s) is 1168 x 3 = 3504 point

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 62.350 is broken, we will close open trades.

DateAugust 17, 2019 - 19:41
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 62.350 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 62.350 is broken.

Technical analysis:

  • A trough is formed in daily chart at 55.70 on 08/07/2019, so more gains to resistance(s) 59.00 and maximum to Major Resistance (62.35) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 39.

Take Profits:

  1. 68.50
  2. 67.00
  3. 66.05
  4. 64.00
  5. 62.35
  6. 59.00
  7. 55.05
  8. 50.25
Click on the level to view price action history.

Symbol Released Current Forecast
Brent Crude Oil (BRENT) Sat, 23 Mar 2024
Brent Crude Oil (BRENT) Sat, 16 Mar 2024
Brent Crude Oil (BRENT) Sat, 9 Mar 2024
Brent Crude Oil (BRENT) Sat, 2 Mar 2024
Brent Crude Oil (BRENT) Sat, 24 Feb 2024