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Weekly forecast Brent Crude Oil technical chart
Symbol BRENT

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Trade Setup

#BRENT
Total Profit: 1795 point
Closed trade(s): 1795 point Profit
Open trade(s): 0 point Profit
_______________________________________________
Trade Setup:
We opened 11 SELL trade(s) @ 48.62 based on 'Peak' entry method at 2016.07.05.

Closed Profit:
TP1 @ 48.25 touched at 2016.07.06 with 37 point Profit.
TP2 @ 46.40 touched at 2016.07.20 with 222 point Profit.
TP3 @ 44.65 touched at 2016.07.25 with 397 point Profit.
TP4 @ 43.65 touched at 2016.07.27 with 497 point Profit.
TP5 @ 42.20 touched at 2016.07.29 with 642 point Profit.
37 + 222 + 397 + 497 + 642 = 1795 point

6 other break-even trades closed at entry price, therefore no profit no loss.
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (50.80 to 52.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (50.80)
    • Resistance on 08/19/2016
    • Resistance on 08/18/2016
    • Resistance on 07/05/2016
    • Resistance on 07/04/2016
    • Resistance on 07/01/2016
    • Resistance on 06/29/2016
    • Resistance on 06/24/2016
    • Resistance on 06/23/2016
    • Resistance on 06/22/2016
    • Resistance on 06/21/2016
    • Resistance on 06/20/2016
    • Resistance on 06/06/2016
    • Resistance on 05/31/2016
    • Resistance on 11/04/2015
    • Resistance on 11/03/2015
    • Resistance on 10/16/2015
    • Resistance on 10/13/2015
    • Resistance on 09/04/2015
    • Resistance on 09/03/2015
    • Resistance on 09/02/2015
    • Resistance on 08/28/2015
    • Resistance on 08/11/2015
    • Resistance on 08/05/2015
    • Resistance on 01/15/2015
  • Ending of entry zone (52.50)
    • Resistance on 06/08/2016
    • Resistance on 10/12/2015
    • Resistance on 10/07/2015
    • Resistance on 09/03/2015
    • Support on 07/29/2015
    • Support on 07/28/2015
    • Support on 03/18/2015
    • Support on 03/17/2015
    • Support on 03/16/2015
DateAugust 21, 2016 - 11:11
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

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

Technical analysis:

  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 67.

Take Profits:

  1. 48.25
  2. 46.40
  3. 44.65
  4. 43.65
  5. 42.20
  6. 38.90
  7. 36.00
  8. 32.15
  9. 29.90
  10. 27.05
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.