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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup

#BRENT
Total Profit: -240 pip
Closed trade(s): 0 pip Profit
Open trade(s): -240 pip 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) - 78.08(current price) = -30 pip
8 trade(s) still open, therefore total profit for open trade(s) is -30 x 8 = -240 pip

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.
DateSeptember 16, 2018 - 12:56
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 82.000, beginning of downtrend is expected.
  • We make sure when the support at 70.300 breaks.
  • If the resistance at 82.000 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 bounced from the downtrend #1 and it prevented price from more gains.
  • 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) 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.