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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 Buy Zone (104.05 to 102.95). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (104.05)
    • Support on 04/02/2014
  • Ending of entry zone (102.95)
    • Support on 11/08/2013
    • Support on 07/02/2013
    • Resistance on 06/28/2013
    • Resistance on 06/27/2013
    • Resistance on 06/21/2013
    • Support on 06/13/2013
    • Support on 06/07/2013
    • Resistance on 05/30/2013
    • Support on 05/16/2013
    • Resistance on 05/14/2013
    • Support on 05/10/2013
    • Resistance on 05/02/2013
    • Resistance on 04/15/2013
    • Support on 07/25/2012
    • Support on 07/24/2012
    • Support on 07/23/2012
    • Support on 07/18/2012
    • Support on 07/17/2012
    • Resistance on 07/13/2012
    • Support on 05/30/2012
    • Support on 12/19/2011
    • Support on 12/16/2011
    • Support on 12/15/2011
    • Resistance on 10/05/2011
    • Resistance on 10/03/2011
    • Support on 09/29/2011
    • Support on 09/28/2011
    • Support on 09/26/2011
    • Support on 08/10/2011
    • Support on 08/09/2011
    • Support on 08/08/2011
    • Support on 06/27/2011

DateJuly 19, 2014 - 22:14
Currentrange bound
Forecastcontinuation of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast continuation of uptrend.

Technical analysis:

  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 36.

Take Profits:

  1. 105.35
  2. 106.80
  3. 108.90
  4. 110.05
  5. 112.75
  6. 115.60
  7. 119.10
  8. 126.40
  9. 128.35
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