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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT
Trade Setup

#BRENT
Total Profit: -1078 point
Closed trade(s): 0 point Profit
Open trade(s): -1078 point Profit

Trade Setup:
We opened 14 BUY trades @ 72.997 based on 'Valley' entry method at 2024-11-18.

Open Profit:
Profit for one BUY trade is 72.225(current price) - 72.997(open price) = -77 point
14 trade(s) still open, therefore total profit for open trade(s) is -77 x 14 = -1078 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.
DateNovember 30, 2024 - 18:33
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 68.485, beginning of uptrend is expected.
  • We make sure when the resistance at 80.930 breaks.
  • If the support at 68.485 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 70.505 on 11/18/2024, so more gains to resistance(s) 72.848, 76.124, 79.049 and maximum to Major Resistance (80.930) 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 46.

Take Profits:

  1. 76.124
  2. 79.049
  3. 80.930
  4. 84.161
  5. 87.271
  6. 91.613
  7. 95.108
  8. 98.908
  9. 103.260
  10. 106.431
  11. 115.785
  12. 123.265
  13. 131.000
Click on the level to view price action history.
Symbol Released Current Forecast
Brent Crude Oil (BRENT) free Sat, 11 Jan 2025
Brent Crude Oil (BRENT) free Fri, 3 Jan 2025
Brent Crude Oil (BRENT) Sat, 28 Dec 2024
Brent Crude Oil (BRENT) Sat, 21 Dec 2024
Brent Crude Oil (BRENT) Sat, 14 Dec 2024
History
Daily-Trading-Opportunities on BRENT.