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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT
Trade Setup

#BRENT
Total Profit: 4554 point
Closed trade(s): 378 point Profit
Open trade(s): 4176 point Profit

Trade Setup:
We opened 10 BUY trades @ 83.021 based on 'Valley' entry method at 2023-01-11.

Closed Profit:
TP1 @ 86.804 touched at 2023-01-17 with 378 point Profit.

Open Profit:
Profit for one BUY trade is 87.659(current price) - 83.021(open price) = 464 point
9 trade(s) still open, therefore total profit for open trade(s) is 464 x 9 = 4176 point

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateJanuary 21, 2023 - 10:34
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 75.360, beginning of uptrend is expected.
  • We make sure when the resistance at 98.931 breaks.
  • If the support at 75.360 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 77.635 on 01/05/2023, so more gains to resistance(s) 89.230, 91.660, 96.070 and maximum to Major Resistance (98.931) 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 59.

Take Profits:

  1. 86.804
  2. 89.230
  3. 91.660
  4. 96.070
  5. 98.931
  6. 103.260
  7. 113.761
  8. 123.265
  9. 131.000
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.