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Trend Hunter performance since 2015 for this symbol

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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup
#BRENT
Total Profit: 5872 point
Closed trade(s): 3262 point Profit
Open trade(s): 2610 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) - 61.22(current price) = 870 point
3 trade(s) still open, therefore total profit for open trade(s) is 870 x 3 = 2610 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 62.35 is broken, we will close open trades.

DateSat, 09/07/2019 - 19:28
Currentrange bound
Forecastcontinuation of downtrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 62.35 would begin in Midterm.
  • We will close our open trades, if the Midterm level 62.35 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 59.1 on 2019-06-05 and the trough at 55.75 on 2019-08-07, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
  • A trough is formed in daily chart at 57.00 on 09/02/2019, so more gains maximum to Major Resistance (62.35) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 56.

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, 22 Feb 2020
Brent Crude Oil (BRENT) Sat, 15 Feb 2020
Brent Crude Oil (BRENT) Sat, 8 Feb 2020
Brent Crude Oil (BRENT) Sat, 1 Feb 2020
Brent Crude Oil (BRENT) Sat, 25 Jan 2020