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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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Trading suggestion:

Price is in the Trend Hunter Buy Zone (58.45 to 55.75).

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (58.45)
    • Resistance on 01/03/2017
    • Resistance on 10/25/2017
    • Support on 10/27/2017
    • Support on 11/23/2018
    • Support on 11/29/2018
    • Support on 11/30/2018
    • Support on 12/06/2018
    • Support on 12/17/2018
    • Resistance on 01/04/2019
    • Resistance on 01/07/2019
    • Support on 08/06/2019
    • Support on 08/14/2019
    • Support on 08/19/2019
    • Support on 08/20/2019
    • Support on 08/23/2019
    • Support on 08/30/2019
    • Support on 09/12/2019
    • Support on 10/01/2019
  • Ending of entry zone (55.75)
    • Support on 12/31/2014
    • Support on 01/02/2015
    • Support on 03/24/2015
    • Support on 03/30/2015
    • Support on 03/31/2015
    • Support on 04/01/2015
    • Support on 04/02/2015
    • Support on 07/07/2015
    • Resistance on 07/24/2015
    • Resistance on 12/05/2016
    • Resistance on 12/14/2016
    • Resistance on 12/22/2016
    • Resistance on 12/23/2016
    • Support on 12/27/2016
    • Support on 01/04/2017
    • Resistance on 01/10/2017
    • Resistance on 01/11/2017
    • Resistance on 01/25/2017
    • Resistance on 01/30/2017
    • Resistance on 01/31/2017
    • Support on 02/06/2017
    • Resistance on 02/08/2017
    • Support on 02/10/2017
    • Support on 02/13/2017
    • Support on 02/14/2017
    • Support on 02/15/2017
    • Support on 02/16/2017
    • Support on 02/17/2017
    • Support on 02/22/2017
    • Support on 02/28/2017
    • Support on 03/06/2017
    • Resistance on 03/08/2017
    • Resistance on 04/07/2017
    • Resistance on 09/14/2017
    • Resistance on 09/15/2017
    • Resistance on 09/18/2017
    • Resistance on 09/19/2017
    • Support on 09/21/2017
    • Support on 10/02/2017
    • Support on 10/12/2017
    • Support on 12/18/2018
    • Resistance on 12/21/2018
    • Resistance on 12/26/2018
    • Resistance on 01/02/2019
    • Resistance on 01/03/2019
    • Support on 08/07/2019

DateSat, 10/05/2019 - 21:16
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 50.25, beginning of uptrend is expected.
  • We make sure when the resistance at 68.80 breaks.
  • If the support at 50.25 is broken, the short-term forecast -beginning of uptrend- will be invalid.

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 trough is formed in daily chart at 56.00 on 10/03/2019, so more gains to resistance(s) 58.45, 60.50, 63.10 and maximum to Major Resistance (68.80) 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 41.

Take Profits:

  1. 60.50
  2. 63.10
  3. 66.05
  4. 68.80
  5. 71.30
  6. 74.75
  7. 79.35
Click on the level to view price action history.

Symbol Released Current Forecast
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
Brent Crude Oil (BRENT) Sat, 25 Apr 2020