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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup

#BRENT
Total Profit: 8877 point
Closed trade(s): 5073 point Profit
Open trade(s): 3804 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.
TP3 @ 70.30 touched at 2018.11.09 with 748 point Profit.
TP4 @ 68.85 touched at 2018.11.13 with 893 point Profit.
TP5 @ 65.80 touched at 2018.11.13 with 1198 point Profit.
TP6 @ 62.35 touched at 2018.11.20 with 1543 point Profit.
238 + 453 + 748 + 893 + 1198 + 1543 = 5073 point

Open Profit:
Profit for one trade is 77.78(open price) - 58.76(current price) = 1902 point
2 trade(s) still open, therefore total profit for open trade(s) is 1902 x 2 = 3804 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.
  • If the Midterm level 71.300 is broken, we will close open trades.
  • Price may also reach 71.300, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.
DateNovember 24, 2018 - 21:13
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 71.300 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 71.300 is broken.

Technical analysis:

  • The RSI support #1 at 37 is broken, so the probability of continuation 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 19.

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.