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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

DateSat, 03/09/2019 - 18:12
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 62.35, beginning of uptrend is expected.
  • We make sure when the resistance at 70.30 breaks.
  • If the support at 62.35 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 49 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 67.10 on 03/01/2019, so more losses to support(s) 63.75 and minimum to Major Support (62.35) 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 56.

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) new Sat, 18 May 2019
Brent Crude Oil (BRENT) free Sat, 11 May 2019
Brent Crude Oil (BRENT) Sat, 4 May 2019
Brent Crude Oil (BRENT) Sat, 27 Apr 2019
Brent Crude Oil (BRENT) Sat, 20 Apr 2019