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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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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (55.05 to 52.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (55.05)
    • Resistance on 12/15/2016
    • Support on 12/21/2016
    • Support on 12/22/2016
    • Support on 12/23/2016
    • Support on 01/23/2017
    • Support on 01/25/2017
    • Support on 01/27/2017
    • Support on 01/30/2017
    • Support on 01/31/2017
    • Support on 03/02/2017
    • Support on 03/03/2017
    • Resistance on 04/05/2017
    • Resistance on 04/06/2017
    • Support on 04/18/2017
    • Resistance on 09/13/2017
    • Support on 09/20/2017
    • Support on 10/06/2017
    • Support on 10/09/2017
    • Resistance on 12/24/2018
    • Resistance on 12/27/2018
    • Resistance on 12/31/2018
    • Resistance on 01/02/2019
  • Ending of entry zone (52.50)
    • Support on 07/28/2015
    • Resistance on 08/03/2015
    • Resistance on 09/03/2015
    • Resistance on 10/13/2016
    • Resistance on 10/14/2016
    • Resistance on 10/17/2016
    • Support on 10/19/2016
    • Resistance on 10/25/2016
    • Resistance on 11/30/2016
    • Support on 03/09/2017
    • Support on 03/30/2017
    • Support on 03/31/2017
    • Support on 04/05/2017
    • Resistance on 05/15/2017
    • Resistance on 05/16/2017
    • Resistance on 05/17/2017
    • Support on 05/29/2017
    • Resistance on 05/31/2017
    • Resistance on 08/02/2017
    • Resistance on 08/03/2017
    • Resistance on 08/04/2017
    • Resistance on 08/07/2017
    • Resistance on 08/08/2017
    • Resistance on 08/21/2017
    • Resistance on 08/24/2017
    • Resistance on 09/04/2017
    • Support on 12/27/2018
    • Support on 12/28/2018
    • Support on 12/31/2018
    • Support on 01/02/2019

DateSun, 02/10/2019 - 10:35
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 50.25 would begin in Midterm.

Technical analysis:

  • While the RSI resistance #1 at 59 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 59.35 on 01/28/2019, so more gains to resistance(s) 62.35, 63.75, 68.45 and more heights is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 54.

Take Profits:

  1. 58.20
  2. 62.35
  3. 63.75
  4. 68.45
  5. 70.30
  6. 72.70
  7. 75.40
  8. 80.50
  9. 88.45
Click on the level to view price action history.

Symbol Released Current Forecast
Brent Crude Oil (BRENT) Sat, 17 Aug 2019
Brent Crude Oil (BRENT) free Sat, 10 Aug 2019
Brent Crude Oil (BRENT) free Sat, 3 Aug 2019
Brent Crude Oil (BRENT) free Sat, 27 Jul 2019
Brent Crude Oil (BRENT) Sat, 20 Jul 2019