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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trading suggestion:

Price is in the Trend Hunter Sell Zone (74.75 to 77.50).

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

  • Beginning of entry zone (74.75)
    • Resistance on 04/25/2019
    • Resistance on 06/23/2021
    • Resistance on 06/29/2021
    • Resistance on 06/30/2021
    • Resistance on 07/07/2021
  • Ending of entry zone (77.50)
    • Peak on 07/06/2021
    • Resistance on 07/06/2021

DateJuly 10, 2021 - 15:39
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

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

Technical analysis:

  • A trough is formed in daily chart at 71.75 on 07/08/2021, so more gains maximum to Trend Hunter Sell Zone (74.75 to 77.50) 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 58.

Take Profits:

  1. 69.65
  2. 63.95
  3. 60.30
  4. 57.35
  5. 54.85
  6. 51.50
  7. 48.95
  8. 46.50
  9. 40.00
  10. 36.95
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