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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup
#BRENT
Total Profit: 1824 point
Closed trade(s): 208 point Profit
Open trade(s): 1616 point Profit

Trade Setup:
We opened 6 SELL trade(s) @ 41.89 (day close price) based on 'Peak' at 2020.10.21.

Closed Profit:
TP1 @ 41.70 touched at 2020.10.26 with 19 point Profit.
TP2 @ 40.00 touched at 2020.10.28 with 189 point Profit.
19 + 189 = 208 point

Open Profit:
Profit for one trade is 41.89(open price) - 37.84(current price) = 404 point
4 trade(s) still open, therefore total profit for open trade(s) is 404 x 4 = 1616 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 41.700 is broken, we will close open trades.
DateOctober 31, 2020 - 17:13
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 41.700 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 41.700 is broken.

Technical analysis:

  • The RSI bounced from the resistance #1 at 55 and it prevented price from more gains.
  • A peak is formed in daily chart at 43.65 on 10/15/2020, so more losses to support(s) 36.95, 33.80, 19.40 and more depths 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 32.

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) 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.