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Brentcrudeoil

Is BRENT forming a long-term bull trend?I still insist on the idea that Brent is forming a long-term bull trend. Let's see the weekly bar, please notice that $43 is still a quite low price in this whole century. In the short term, the price may fluctuate or hesitate. But in the long term, it is highly possible that the economy will recover progressively (even the process might be very slow). In this chart, it is possible that Brent is forming a blue flag (or an ascending triangle). Filling the gap below $46 would be the first step for Brent. personally I have enough confidence to believe that Brent would rise back to $60 before 2021.
TVC:UKOILLong
by KE_ZHANG
Brent Crude Oil Important technical analysis updateMidterm forecast: . While the price is below the resistance 44.55, beginning of downtrend is expected. . We make sure when the support at 36.95 breaks. . If the resistance at 44.55 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 43.315 on 2020-06-08 and the peak at 43.93 on 2020-06-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. . While the RSI support #1 at 50 is not broken, the probability of price decrease would be too low. . A peak is formed in daily chart at 43.80 on 07/06/2020, so more losses to support(s) 42.20, 40.00 and minimum to Major Support (36.95) is expected. . Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. . Relative strength index ( RSI ) is 62.
FX_IDC:USDBROLong
by ForecastCity
31
Brent Crude Oil Important technical analysis updateMidterm forecast: . While the price is below the resistance 44.55, beginning of downtrend is expected. . We make sure when the support at 36.95 breaks. . If the resistance at 44.55 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 43.315 on 2020-06-08 and the peak at 43.93 on 2020-06-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. . While the RSI support #1 at 50 is not broken, the probability of price decrease would be too low. . A peak is formed in daily chart at 43.80 on 07/06/2020, so more losses to support(s) 42.20, 40.00 and minimum to Major Support (36.95) is expected. . Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. . Relative strength index (RSI) is 62.
FX_IDC:USDBROLong
by ForecastCity
14
June 19. Today's matrix for mid term trading on m60 timeframe. Hi everyone. My analysis done for my main timeframe 5m. I start from higher timeframes and move down to lowest m5. As my analysis is already done, I'm publishing matrix levels also for h1 for mid term traders. If somebody is interested in higher timeframes such as D1, W1 please let me know in comments and I will publish these levels too. Futures contract for Brent crude , London exchange ICE 08-20 My trading is based on market phases. For timeframes m60 and h1: Buy on the test of level 43.46, target 45.24 Buy 41.45, target 43.46 Buy 39.90, target 41.45 Trading on m60 timeframe.
FX:UKOILLong
by AleksZhdan