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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup
#BRENT:
Total Loss: 2316 point
Closed trade(s): 2316 point Loss

Trade Setup:
We opened 6 SELL trade(s) @ 43.80 based on 'Shooting star' entry method at 2020.11.11.

Total Loss:
SL @ 47.66 touched at 2020.11.24 with 386 point Loss.
Loss for one trade is 47.66(close price) - 43.80(open price) = 386 point
Therefore total loss for trades is 386 x 6 = 2316 point

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
DateNovember 28, 2020 - 13:01
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 46.500 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 48.95, 54.40, 58.65 and more heights 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 69.

Supports and Resistances:

  1. 70.35
  2. 58.65
  3. 54.40
  4. 48.95
  5. 41.70
  6. 40.00
  7. 36.95
  8. 33.80
  9. 19.40
Click on the level to view price action history.
Symbol Released Current Forecast
Brent Crude Oil (BRENT) new Sun, 14 Apr 2024
Brent Crude Oil (BRENT) new 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.