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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (73.50 to 75.58). 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 (73.50)
  • Ending of entry zone (75.58)

DateSeptember 11, 2021 - 22:04
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 64.510 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 peak is formed in daily chart at 73.48 on 09/03/2021, so more losses to support(s) 71.05, 67.00 and minimum to Major Support (64.51) 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 55.

Take Profits:

  1. 71.05
  2. 67.00
  3. 64.51
  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) new 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
Brent Crude Oil (BRENT) Sat, 17 Feb 2024