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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup
#BRENT
Total Profit: 316 point
Closed trade(s): 316 point Profit
Open trade(s): 0 point Profit

Trade Setup:
We opened 6 SELL trade(s) @ 42.42 based on 'Peak' at 2020.09.04.

Closed Profit:
TP1 @ 41.70 touched at 2020.09.08 with 73 point Profit.
TP2 @ 40.00 touched at 2020.09.08 with 243 point Profit.
73 + 243 = 316 point

4 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (44.15 to 46.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (44.15)
    • Resistance on 08/25/2015
    • Support on 11/13/2015
    • Support on 11/16/2015
    • Support on 11/17/2015
    • Support on 11/18/2015
    • Support on 11/19/2015
    • Support on 11/20/2015
    • Support on 11/23/2015
    • Resistance on 04/14/2016
    • Resistance on 04/15/2016
    • Resistance on 04/19/2016
    • Support on 04/26/2016
    • Support on 05/04/2016
    • Support on 05/06/2016
    • Resistance on 07/28/2016
    • Support on 11/14/2016
    • Resistance on 06/23/2020
    • Resistance on 07/21/2020
    • Resistance on 07/24/2020
    • Resistance on 07/27/2020
    • Resistance on 07/28/2020
    • Resistance on 07/29/2020
    • Resistance on 07/30/2020
    • Resistance on 08/03/2020
    • Support on 08/05/2020
    • Support on 08/21/2020
    • Support on 09/02/2020
    • Resistance on 09/04/2020
  • 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 19, 2020 - 17:29
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 46.50, beginning of downtrend is expected.
  • We make sure when the support at 40.00 breaks.
  • If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 39.56 on 09/14/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

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 Sat, 24 Oct 2020
Brent Crude Oil (BRENT) Sat, 17 Oct 2020
Brent Crude Oil (BRENT) Sat, 10 Oct 2020
Brent Crude Oil (BRENT) Sat, 3 Oct 2020
Brent Crude Oil (BRENT) free Sat, 26 Sep 2020