ForecastCity_ME

💡Brent Crude Oil - Weekly technical analysis update

FX_IDC:USDBRO   U.S. DOLLAR / BRENT CRUDE OIL
Midterm forecast:
52.45 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 peak is formed in daily chart at 57.25 on 01/13/2021, so more losses minimum to Major Support (52.45) 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 61.

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