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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (53.95 to 57.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (53.95)
    • Resistance on 05/19/2017
    • Support on 04/06/2017
    • Resistance on 03/09/2017
    • Support on 01/19/2017
    • Support on 01/18/2017
    • Support on 01/11/2017
    • Support on 12/22/2016
    • Support on 12/16/2016
    • Support on 12/15/2016
    • Support on 12/14/2016
    • Resistance on 12/08/2016
    • Resistance on 12/07/2016
    • Resistance on 12/01/2016
    • Resistance on 10/09/2015
    • Resistance on 08/31/2015
    • Resistance on 07/30/2015
    • Resistance on 07/29/2015
    • Resistance on 07/28/2015
    • Support on 04/02/2015
    • Support on 03/23/2015
    • Support on 03/20/2015
    • Support on 03/19/2015
    • Support on 03/16/2015
    • Support on 02/11/2015
  • Ending of entry zone (57.50)
    • Resistance on 02/23/2017
    • Resistance on 02/02/2017
    • Resistance on 01/06/2017
    • Resistance on 01/05/2017
    • Resistance on 01/03/2017

DateMay 20, 2017 - 22:16
Currentdowntrend
Forecastresumption of downtrend

Midterm forecast:

  • The current trend is downtrend and the forecast is resumption of downtrend.

Technical analysis:

  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 62.

Take Profits:

  1. 52.50
  2. 50.80
  3. 48.25
  4. 46.40
  5. 43.65
  6. 42.20
  7. 38.90
  8. 36.00
  9. 32.15
  10. 29.90
  11. 27.05
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