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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup

#BRENT
Total Profit: 3835 point
Closed trade(s): 691 point Profit
Open trade(s): 3144 point Profit

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

Closed Profit:
TP1 @ 75.40 touched at 2018.10.24 with 238 point Profit.
TP2 @ 73.25 touched at 2018.11.01 with 453 point Profit.
238 + 453 = 691 point

Open Profit:
Profit for one trade is 77.78(open price) - 72.54(current price) = 524 point
6 trade(s) still open, therefore total profit for open trade(s) is 524 x 6 = 3144 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.
DateNovember 3, 2018 - 16:50
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 88.450, beginning of downtrend is expected.
  • We make sure when the support at 70.300 breaks.
  • If the resistance at 88.450 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 37 is broken, so the probability of beginning of downtrend is increased.
  • While the RSI resistance #2 at 58 is not broken, the probability of price increase would be too low.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 29.

Take Profits:

  1. 75.40
  2. 73.25
  3. 70.30
  4. 68.85
  5. 65.80
  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.