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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 Sell Zone (71.55 to 72.70). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (71.55)
    • Support on 04/12/2018
    • Support on 07/16/2018
    • Support on 07/17/2018
    • Support on 07/18/2018
    • Support on 08/10/2018
    • Support on 08/13/2018
    • Support on 08/20/2018
    • Support on 11/06/2018
    • Support on 11/07/2018
    • Resistance on 11/12/2018
    • Resistance on 04/10/2019
    • Resistance on 04/11/2019
  • Ending of entry zone (72.70)
    • Resistance on 04/11/2018
    • Support on 04/23/2018
    • Support on 04/25/2018
    • Support on 04/30/2018
    • Support on 05/01/2018
    • Support on 05/02/2018
    • Support on 05/03/2018
    • Support on 06/15/2018
    • Support on 06/18/2018
    • Support on 06/21/2018
    • Support on 07/12/2018
    • Support on 07/20/2018
    • Support on 07/23/2018
    • Support on 07/24/2018
    • Support on 08/03/2018
    • Support on 08/13/2018
    • Resistance on 08/15/2018
    • Resistance on 08/17/2018
    • Resistance on 08/20/2018
    • Support on 11/01/2018
    • Resistance on 11/08/2018

DateSun, 04/14/2019 - 10:53
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 72.70, beginning of downtrend is expected.
  • We make sure when the support at 64.00 breaks.
  • If the resistance at 72.70 is broken, the short-term forecast -beginning of downtrend- 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 trough is formed in daily chart at 65.95 on 03/25/2019, so more gains to resistance(s) 71.55 and maximum to Major Resistance (72.70) 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 69.

Take Profits:

  1. 68.50
  2. 67.00
  3. 66.05
  4. 64.00
  5. 62.35
  6. 59.00
  7. 55.05
  8. 50.25
Click on the level to view price action history.

Symbol Released Current Forecast
Brent Crude Oil (BRENT) new Sat, 15 Jun 2019
Brent Crude Oil (BRENT) Sat, 8 Jun 2019
Brent Crude Oil (BRENT) Sat, 1 Jun 2019
Brent Crude Oil (BRENT) free Sat, 25 May 2019
Brent Crude Oil (BRENT) Sat, 18 May 2019