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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateAugust 6, 2022 - 03:32
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 85.500, resumption of uptrend is expected.
  • We make sure when the resistance at 104.736 breaks.
  • If the support at 85.500 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 106.110 on 07/29/2022, so more losses to support(s) 92.481 and minimum to Major Support (85.500) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 35.

Supports and Resistances:

  1. 131.000
  2. 114.066
  3. 85.500
  4. 77.442
  5. 64.647
  6. 36.546
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