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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT
Trade Setup

#BRENT
Total Profit: 6616 point
Closed trade(s): 545 point Profit
Open trade(s): 6071 point Profit

Trade Setup:
We opened 15 BUY trades @ 71.756 based on 'Two-Days Reversal Candles (Hammer)' entry method at 2024-12-09.

Closed Profit:
TP1 @ 72.848 touched at 2024-12-11 with 109 point Profit.
TP2 @ 76.124 touched at 2025-01-02 with 436 point Profit.
109 + 436 = 545 point

Open Profit:
Profit for one BUY trade is 76.427(current price) - 71.756(open price) = 467 point
13 trade(s) still open, therefore total profit for open trade(s) is 467 x 13 = 6071 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.
DateJanuary 3, 2025 - 22:15
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) 79.049 and maximum to Major Resistance (80.930) 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 68.

Take Profits:

  1. 72.848
  2. 76.124
  3. 79.049
  4. 80.930
  5. 84.161
  6. 87.271
  7. 91.613
  8. 95.108
  9. 98.908
  10. 103.260
  11. 106.431
  12. 115.785
  13. 123.265
  14. 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.