ForecastCity_ME

Brent Crude Oil - Weekly technical analysis update

Short
FX_IDC:USDBRO   U.S. DOLLAR / BRENT CRUDE OIL
Midterm forecast:
While the price is below the resistance 46.50, beginning of downtrend is expected.
We make sure when the support at 36.95 breaks.
If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 45.44 on 11/11/2020, so more losses to support(s) 41.70, 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 54.

❤️ If you find this helpful and want more FREE forecasts in TradingView

. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!

❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?

Now, It's your turn!
Be sure to leave a comment let us know how you see this opportunity and forecast.

Trade well, ❤️
ForecastCity English Support Team ❤️
HighAccurate forecast for
🌟36 Forex Pairs: 916.000 pips track record profit
🌟34 Cryptos
🌟Gold, Silver, Oils, Gas
🌟Best Profitable Trading Strategies

in 8 languages

since 2007

http://www.ForecastCity.com
🌟FREE Telegram http://t.me/forecastcity_com

Comments

Thank you for updating us about Brent.
+2 Reply
ForecastCity_ME yusufipek1989
@yusufipek1989, We're happy to help.
+2 Reply
You are great as always! this is nice.
+1 Reply
ForecastCity_ME DenizKilicDeniz
@DenizKilicDeniz, We appreciate your support.
Reply
Nice analysis as usual

you are great
+1 Reply
ForecastCity_ME sara-kian-fx
@sara-kian-fx, Thank you for your kind words.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out