Category: BRENT

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BRENT Weekly Forex Forecast 10th December to 16th December by yshashmi37 on TradingView.com

Midterm forecast:

68.85 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 68.85 is broken.
Technical analysis:

While the RSI resistance #1 at 58 is not broken, the probability of price increase would be too low.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 40.

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BRENT Weekly Forex Forecast 2nd December to 6th December by yshashmi37 on TradingView.com

Midterm forecast:

68.85 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 68.85 is broken.
Technical analysis:

The RSI support #1 at 37 is broken, so the probability of continuation of downtrend is increased.
While the RSI resistance #2 at 58 is not broken, the probability of price increase would be too low.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 26.

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BRENT Weekly Forex Forecast 25th November to 1st December by yshashmi37 on TradingView.com

Midterm forecast:

71.30 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 71.30 is broken.
Technical analysis:

The RSI support #1 at 37 is broken, so the probability of continuation of downtrend is increased.
While the RSI resistance #2 at 58 is not broken, the probability of price increase would be too low.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 19.

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BRENT Weekly Forex Forecast 3rd November to 9th November by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 88.45, beginning of downtrend is expected.
We make sure when the support at 70.30 breaks.
If the resistance at 88.45 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

The RSI support #1 at 37 is broken, so the probability of beginning of downtrend is increased.
While the RSI resistance #2 at 58 is not broken, the probability of price increase would be too low.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 29.

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BRENT Weekly Forex Forecast 9th September to 22nd September by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 82.00, beginning of downtrend is expected.
We make sure when the support at 70.30 breaks.
If the resistance at 82.00 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI bounced from the downtrend #1 and it prevented price from more gains.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 59.