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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (66.75 to 69.65). 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 (66.75)
    • Support on 05/13/2015
    • Support on 05/17/2015
    • Resistance on 05/21/2015
    • Resistance on 05/22/2015
    • Resistance on 12/29/2017
    • Resistance on 01/02/2018
    • Support on 02/05/2018
    • Support on 02/06/2018
    • Resistance on 02/28/2018
    • Support on 04/04/2018
    • Support on 04/06/2018
    • Support on 11/16/2018
    • Support on 11/19/2018
    • Resistance on 02/18/2019
    • Resistance on 02/19/2019
    • Resistance on 02/27/2019
    • Resistance on 02/28/2019
    • Resistance on 03/01/2019
    • Resistance on 03/07/2019
    • Resistance on 03/11/2019
    • Support on 03/13/2019
    • Support on 03/15/2019
    • Support on 03/18/2019
    • Support on 03/26/2019
    • Support on 03/27/2019
    • Support on 03/28/2019
    • Support on 05/23/2019
    • Support on 05/24/2019
    • Support on 05/29/2019
    • Resistance on 07/01/2019
    • Resistance on 07/10/2019
    • Resistance on 07/11/2019
    • Resistance on 07/12/2019
    • Resistance on 07/15/2019
    • Resistance on 07/16/2019
    • Resistance on 12/26/2019
    • Resistance on 12/27/2019
    • Resistance on 12/30/2019
    • Resistance on 12/31/2019
    • Peak on 02/25/2021
    • Resistance on 02/25/2021
    • Support on 03/05/2021
    • Support on 03/09/2021
    • Support on 03/10/2021
    • Support on 03/17/2021
  • Ending of entry zone (69.65)
    • Resistance on 01/23/2018
    • Support on 01/25/2018
    • Resistance on 02/01/2018
    • Resistance on 03/27/2018
    • Resistance on 03/29/2018
    • Resistance on 04/02/2018
    • Support on 11/09/2018
    • Resistance on 11/13/2018
    • Resistance on 04/03/2019
    • Resistance on 04/04/2019
    • Support on 05/02/2019
    • Support on 05/03/2019
    • Support on 05/09/2019
    • Support on 05/10/2019
    • Support on 05/22/2019
    • Resistance on 01/06/2020
    • Resistance on 03/05/2021
    • Resistance on 03/11/2021
    • Resistance on 03/12/2021
    • Resistance on 03/15/2021

DateApril 3, 2021 - 20:53
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 70.700, beginning of downtrend is expected.
  • We make sure when the support at 61.400 breaks.
  • If the resistance at 70.700 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • 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 69.67 on 03/15/2021, so more losses to support(s) 63.10 and minimum to Major Support (61.40) 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 51.

Take Profits:

  1. 63.10
  2. 61.40
  3. 59.60
  4. 57.35
  5. 54.85
  6. 51.50
  7. 48.95
  8. 46.50
Click on the level to view price action history.

Symbol Released Current Forecast
Brent Crude Oil (BRENT) Sat, 23 Mar 2024
Brent Crude Oil (BRENT) Sat, 16 Mar 2024
Brent Crude Oil (BRENT) Sat, 9 Mar 2024
Brent Crude Oil (BRENT) Sat, 2 Mar 2024
Brent Crude Oil (BRENT) Sat, 24 Feb 2024