Languages

website utilities


Follow us:
+1 (646) 48 000 22 (New York, USA)
You are not logged in, you need subscription to view up-to-date forecasts, please Login if you have already subscribed, otherwise please Subscribe
You can still continue browsing delayed forecasts on the sidebar list.
Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

Download MT4 template file

Trade Setup
#BRENT
Total Profit: 1224 pip
Closed trade(s): 0 pip Profit
Open trade(s): 1224 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 57.42 based on 'Hammer' at 2019.10.03.

Open Profit:
Profit for one trade is 58.95(current price) - 57.42(open price) = 153 pip
8 trade(s) still open, therefore total profit for open trade(s) is 153 x 8 = 1224 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateOctober 19, 2019 - 17:46
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

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) 60.50, 63.10, 66.05 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 46.

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) new Sat, 11 Jul 2020
Brent Crude Oil (BRENT) Sat, 4 Jul 2020
Brent Crude Oil (BRENT) Sat, 27 Jun 2020
Brent Crude Oil (BRENT) Sat, 20 Jun 2020
Brent Crude Oil (BRENT) Sat, 13 Jun 2020