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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 63.300 is broken, we will close open trades.
DateSeptember 14, 2019 - 18:02
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 55.050, beginning of uptrend is expected.
  • We make sure when the resistance at 63.300 breaks.
  • If the support at 55.050 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 63.300 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) Sun, 14 Apr 2024
Brent Crude Oil (BRENT) Sun, 14 Apr 2024
Brent Crude Oil (BRENT) Sat, 6 Apr 2024
Brent Crude Oil (BRENT) Sat, 30 Mar 2024
Brent Crude Oil (BRENT) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on BRENT.