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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup

#BRENT
Total Profit: 2213 point
Closed trade(s): 783 point Profit
Open trade(s): 1430 point Profit

Trade Setup:
We opened 12 SELL trade(s) @ 72.94 (day close price) based on 'Peak' at 2021.08.02.

Closed Profit:
TP1 @ 71.05 touched at 2021.08.03 with 189 point Profit.
TP2 @ 67.00 touched at 2021.08.18 with 594 point Profit.
189 + 594 = 783 point

Open Profit:
Profit for one trade is 72.94(open price) - 71.51(current price) = 143 point
10 trade(s) still open, therefore total profit for open trade(s) is 143 x 10 = 1430 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.
DateAugust 28, 2021 - 22:21
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 77.500, resumption of downtrend is expected.
  • We make sure when the support at 63.950 breaks.
  • If the resistance at 77.500 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • A trough is formed in daily chart at 64.45 on 08/23/2021, so more gains to resistance(s) 74.75 and maximum to Major Resistance (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 54.

Take Profits:

  1. 71.05
  2. 67.00
  3. 63.95
  4. 60.30
  5. 57.35
  6. 54.85
  7. 51.50
  8. 48.95
  9. 46.50
  10. 40.00
  11. 36.95
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.