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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT
Trade Setup

#BRENT
Total Profit: 8395 point
Closed trade(s): 4205 point Profit
Open trade(s): 4190 point Profit

Trade Setup:
We opened 15 SELL trade(s) @ 81.95 (day close price) based on 'Peak' at 2021.11.10.

Closed Profit:
TP1 @ 79.85 touched at 2021.11.17 with 211 point Profit.
TP2 @ 77.60 touched at 2021.11.19 with 436 point Profit.
TP3 @ 72.68 touched at 2021.11.26 with 928 point Profit.
TP4 @ 70.62 touched at 2021.11.30 with 1134 point Profit.
TP5 @ 67.00 touched at 2021.12.02 with 1496 point Profit.
211 + 436 + 928 + 1134 + 1496 = 4205 point

Open Profit:
Profit for one trade is 81.95(open price) - 77.77(current price) = 419 point
10 trade(s) still open, therefore total profit for open trade(s) is 419 x 10 = 4190 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.
  • If the Midterm level 79.850 is broken, we will close open trades.

DateJanuary 1, 2022 - 00:14
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 79.850, resumption of downtrend is expected.
  • We make sure when the support at 64.510 breaks.
  • If the resistance at 79.850 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 79.850 is broken.

Technical analysis:

  • While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 79.97 on 12/29/2021, so more losses to support(s) 77.60, 75.29, 72.68 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 54.

Take Profits:

  1. 79.85
  2. 77.60
  3. 72.68
  4. 70.62
  5. 67.00
  6. 64.51
  7. 60.30
  8. 57.35
  9. 54.85
  10. 51.50
  11. 48.95
  12. 46.50
  13. 40.00
  14. 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