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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT
Trade Setup

#BRENT
Total Profit: 3120 point
Closed trade(s): 0 point Profit
Open trade(s): 3120 point Profit

Trade Setup:
We opened 10 BUY trades @ 82.608 based on 'Valley' entry method at 2022-12-21.

Open Profit:
Profit for one BUY trade is 85.733(current price) - 82.608(open price) = 312 point
10 trade(s) still open, therefore total profit for open trade(s) is 312 x 10 = 3120 point

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateDecember 31, 2022 - 07:46
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 75.000, beginning of uptrend is expected.
  • We make sure when the resistance at 98.931 breaks.
  • If the support at 75.000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI resistance #1 at 47 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 78.620 on 12/16/2022, so more gains to resistance(s) 86.804, 89.234, 91.660 and maximum to Major Resistance (98.931) 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. 86.804
  2. 89.234
  3. 91.660
  4. 96.070
  5. 98.931
  6. 103.260
  7. 113.761
  8. 123.265
  9. 131.000
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.