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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: 6373 point
Closed trade(s): 3262 point Profit
Open trade(s): 3111 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) - 59.55(current price) = 1037 point
3 trade(s) still open, therefore total profit for open trade(s) is 1037 x 3 = 3111 point

#BRENT
Total Profit: 6373 point
Closed trade(s): 3262 point Profit
Open trade(s): 3111 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) - 59.55(current price) = 1037 point
3 trade(s) still open, therefore total profit for open trade(s) is 1037 x 3 = 3111 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 63.30 is broken, we will close open trades.

DateSat, 09/14/2019 - 18:02
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 55.05, beginning of uptrend is expected.
  • We make sure when the resistance at 63.30 breaks.
  • If the support at 55.05 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 63.30 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 of uptrend is increased.
  • A peak is formed in daily chart at 63.30 on 09/10/2019, so more losses to support(s) 59.00 and minimum to Major Support (55.05) 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 47.

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) new Sat, 30 May 2020
Brent Crude Oil (BRENT) Sat, 23 May 2020
Brent Crude Oil (BRENT) Sat, 16 May 2020
Brent Crude Oil (BRENT) Sat, 9 May 2020
Brent Crude Oil (BRENT) Sat, 2 May 2020