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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

Trading suggestion:

Price is in the Trend Hunter Sell Zone (86.00 to 88.80).

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

  • Beginning of entry zone (86.00)
  • Ending of entry zone (88.80)

DateJanuary 22, 2022 - 09:15
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 88.800, beginning of downtrend is expected.
  • We make sure when the support at 69.470 breaks.
  • If the resistance at 88.800 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 88.80 on 01/20/2022, so more losses to support(s) 86.00, 84.13, 79.91 and minimum to Major Support (69.47) 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 68.

Take Profits:

  1. 84.13
  2. 79.91
  3. 76.80
  4. 72.68
  5. 69.47
  6. 67.00
  7. 64.51
  8. 60.30
  9. 57.35
  10. 54.85
  11. 51.50
  12. 48.95
  13. 46.50
  14. 40.00
  15. 36.95
Click on the level to view price action history.

Symbol Released Current Forecast
Brent Crude Oil (BRENT) Sat, 23 Mar 2024
Brent Crude Oil (BRENT) Sat, 16 Mar 2024
Brent Crude Oil (BRENT) Sat, 9 Mar 2024
Brent Crude Oil (BRENT) Sat, 2 Mar 2024
Brent Crude Oil (BRENT) Sat, 24 Feb 2024