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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

Download MT4 template file

Trading suggestion:

Regarding the entry signal of DTO we will invest at Monday - if no GAP - when the market opens.

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

  • Beginning of entry zone (44.70)
    • Resistance on 11/18/2015
    • Resistance on 11/19/2015
    • Resistance on 11/20/2015
    • Support on 11/23/2015
    • Support on 11/30/2015
    • Resistance on 12/03/2015
    • Resistance on 12/04/2015
    • Resistance on 04/12/2016
    • Resistance on 04/13/2016
    • Resistance on 04/14/2016
    • Support on 05/03/2016
    • Support on 05/04/2016
    • Support on 05/05/2016
    • Support on 05/06/2016
    • Support on 07/26/2016
    • Resistance on 08/05/2016
    • Support on 11/11/2016
    • Support on 11/14/2016
    • Support on 06/21/2017
    • Support on 06/22/2017
    • Resistance on 07/21/2020
    • Resistance on 07/22/2020
    • Resistance on 07/23/2020
    • Resistance on 08/03/2020
    • Resistance on 08/04/2020
    • Support on 08/07/2020
    • Support on 08/10/2020
    • Support on 08/11/2020
    • Support on 08/12/2020
    • Support on 08/14/2020
    • Support on 08/17/2020
    • Support on 08/20/2020
    • Support on 08/21/2020
    • Support on 08/24/2020
  • Ending of entry zone (46.50)
    • Support on 08/28/2015
    • Support on 11/11/2015
    • Resistance on 11/24/2015
    • Resistance on 05/03/2016
    • Resistance on 05/05/2016
    • Resistance on 05/09/2016
    • Support on 07/07/2016
    • Support on 07/08/2016
    • Support on 07/13/2016
    • Support on 07/14/2016
    • Support on 07/20/2016
    • Resistance on 08/11/2016
    • Support on 09/05/2016
    • Support on 09/06/2016
    • Support on 09/26/2016
    • Support on 09/27/2016
    • Support on 09/28/2016
    • Support on 11/02/2016
    • Support on 11/03/2016
    • Support on 11/09/2016
    • Resistance on 11/11/2016
    • Support on 11/18/2016
    • Resistance on 06/21/2017
    • Resistance on 06/26/2017
    • Resistance on 06/27/2017
    • Support on 07/07/2017
    • Support on 07/10/2017
    • Support on 07/11/2017
    • Resistance on 08/05/2020
    • Peak on 08/25/2020
    • Resistance on 08/25/2020
    • Resistance on 08/26/2020
    • Resistance on 08/27/2020
    • Resistance on 08/31/2020
DateSeptember 5, 2020 - 13:56
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 46.500, beginning of downtrend is expected.
  • We make sure when the support at 40.000 breaks.
  • If the resistance at 46.500 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08 and the peak at 46.525 on 2020-08-26, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI support #1 at 55 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 46.50 on 08/25/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) 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 35.

Take Profits:

  1. 41.70
  2. 40.00
  3. 36.95
  4. 33.80
  5. 19.40
Click on the level to view price action history.
Symbol Released Current Forecast
Brent Crude Oil (BRENT) new Sun, 21 Apr 2024
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
History
Daily-Trading-Opportunities on BRENT.