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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 Sell Zone (53.95 to 57.50). 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 (53.95)
    • Resistance on 05/22/2017
    • Resistance on 05/19/2017
    • Support on 04/06/2017
    • Resistance on 03/09/2017
    • Support on 01/19/2017
    • Support on 01/18/2017
    • Support on 01/11/2017
    • Support on 12/22/2016
    • Support on 12/16/2016
    • Support on 12/15/2016
    • Support on 12/14/2016
    • Resistance on 12/08/2016
    • Resistance on 12/07/2016
    • Resistance on 12/01/2016
    • Resistance on 10/09/2015
    • Resistance on 08/31/2015
    • Resistance on 07/30/2015
    • Resistance on 07/29/2015
    • Resistance on 07/28/2015
    • Support on 04/02/2015
    • Support on 03/23/2015
    • Support on 03/20/2015
    • Support on 03/19/2015
    • Support on 03/16/2015
    • Support on 02/11/2015
  • Ending of entry zone (57.50)
    • Resistance on 02/23/2017
    • Resistance on 02/02/2017
    • Resistance on 01/06/2017
    • Resistance on 01/05/2017
    • Resistance on 01/03/2017

DateJune 24, 2017 - 20:51
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 below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 33.

Take Profits:

  1. 52.50
  2. 50.80
  3. 48.25
  4. 46.40
  5. 43.65
  6. 42.20
  7. 38.90
  8. 36.00
  9. 32.15
  10. 29.90
  11. 27.05
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