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Trend Hunter performance since 2015 for this symbol

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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup

Total Profit: 616 point
Closed trade(s): 0 point Profit
Open trade(s): 616 point Profit

Trade Setup:
We opened 8 SELL trade(s) @ 77.78 based on 'Shooting Star' entry method at 2018.09.04.

Open Profit:
Profit for one trade is 77.78(open price) - 77.01(current price) = 77 point
8 trade(s) still open, therefore total profit for open trade(s) is 77 x 8 = 616 point

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateSun, 09/09/2018 - 21:08
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 82.00, beginning of downtrend is expected.
  • We make sure when the support at 70.30 breaks.
  • If the resistance at 82.00 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of downtrend is decreased.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 59.

Take Profits:

  1. 75.40
  2. 73.25
  3. 70.30
  4. 68.85
  5. 66.65
  6. 62.35
  7. 58.15
Click on the level to view price action history.

Symbol Released Current Forecast
Brent Crude Oil (BRENT) new Sat, 20 Jul 2019
Brent Crude Oil (BRENT) Sat, 13 Jul 2019
Brent Crude Oil (BRENT) free Sat, 6 Jul 2019
Brent Crude Oil (BRENT) Sat, 29 Jun 2019
Brent Crude Oil (BRENT) Sat, 22 Jun 2019