ForecastCity_World

💡Brent Crude Oil - Weekly technical analysis update

FX_IDC:USDBRO   U.S. DOLLAR / BRENT CRUDE OIL
Midterm forecast:
54. 40 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 54. 40 on 02/ 01 /2021, so more gains to resistance(s) 62.30, 66. 05 , 70.35 and more heights 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 73.

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Comments

Loved the update thank you
+5 Reply
ForecastCity_World DenizKilicDeniz
@DenizKilicDeniz, You're welcome!
+3 Reply
ForecastCity_World DenizKilicDeniz
@DenizKilicDeniz, We're glad you loved it
+3 Reply
Finally, a great update for Brent. Thanks!
+5 Reply
@Sophi2018, You're welcome!
+5 Reply
Sounds rational.
+4 Reply
ForecastCity_World yusufipek1989
@yusufipek1989, Thanks
+3 Reply
Good one!🔥
+1 Reply
@FieryTrading, Thanks a lot
+2 Reply
You rock! it went exactly as it was anticipated by you
+1 Reply
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