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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

Trading suggestion:

Price is in the Trend Hunter Buy Zone (84.878 to 82.470).

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

  • Beginning of entry zone (84.878)
  • Ending of entry zone (82.470)

DateNovember 26, 2022 - 05:46
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 82.470, beginning of uptrend is expected.
  • We make sure when the resistance at 106.570 breaks.
  • If the support at 82.470 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 47 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 95.995 on 11/14/2022, so more losses minimum to Major Support (82.470) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 35.

Take Profits:

  1. 88.046
  2. 91.159
  3. 96.070
  4. 98.931
  5. 103.260
  6. 113.761
  7. 123.265
  8. 131.000
Click on the level to view price action history.

Symbol Released Current Forecast
Brent Crude Oil (BRENT) Sat, 28 Jan 2023
Brent Crude Oil (BRENT) Sat, 21 Jan 2023
Brent Crude Oil (BRENT) free Sat, 14 Jan 2023
Brent Crude Oil (BRENT) Sat, 7 Jan 2023
Brent Crude Oil (BRENT) Sat, 31 Dec 2022