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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup
#BRENT
Total Profit: 3498 point
Closed trade(s): 2170 point Profit
Open trade(s): 1328 point Profit

Trade Setup:
We opened 9 SELL trade(s) @ 69.92 based on 'Peak' at 2019.05.22.

Closed Profit:
TP1 @ 68.50 touched at 2019.05.23 with 142 point Profit.
TP2 @ 67.00 touched at 2019.05.23 with 292 point Profit.
TP3 @ 66.05 touched at 2019.05.23 with 387 point Profit.
TP4 @ 64.00 touched at 2019.05.31 with 592 point Profit.
TP5 @ 62.35 touched at 2019.05.31 with 757 point Profit.
142 + 292 + 387 + 592 + 757 = 2170 point

Open Profit:
Profit for one trade is 69.92(open price) - 66.60(current price) = 332 point
4 trade(s) still open, therefore total profit for open trade(s) is 332 x 4 = 1328 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 68.500 is broken, we will close open trades.
  • Price may also reach 68.500, 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.
DateJuly 13, 2019 - 19:54
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 68.500 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 68.500 is broken.

Technical analysis:

  • While the RSI resistance #1 at 58 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 62.00 on 07/03/2019, so more gains to resistance(s) 67.00 and maximum to Major Resistance (68.50) 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 58.

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) 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.