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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 (57.35 to 59.40). 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 (57.35)
    • Resistance on 10/06/2017
    • Resistance on 10/05/2017
    • Resistance on 09/29/2017
    • Resistance on 02/23/2017
    • Resistance on 02/21/2017
    • Resistance on 02/03/2017
    • Resistance on 02/02/2017
    • Resistance on 01/06/2017
    • Resistance on 01/05/2017
    • Resistance on 01/03/2017
    • Resistance on 12/29/2016
    • Resistance on 12/12/2016
  • Ending of entry zone (59.40)
    • Resistance on 09/26/2017

DateOctober 15, 2017 - 09:43
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 59.

Take Profits:

  1. 54.65
  2. 53.70
  3. 52.50
  4. 50.80
  5. 48.25
  6. 46.40
  7. 44.65
  8. 41.50
  9. 38.90
  10. 36.00
  11. 32.15
  12. 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