ForecastCity

💡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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Comments

Good forecast. thx for sharing
+2 Reply
ForecastCity yusufipek1989
@yusufipek1989, You're very welcome!
Reply
nice update.
+1 Reply
ForecastCity Best_Forecast
@Best_Forecast, Thanks
Reply
You always manage to create the most beautiful and detailed charts. 😊 Thanks
+1 Reply
ForecastCity Kristalyn
@Kristalyn, You're welcome. 🌹
Reply
I think i should follow daily forecasts of yours.
+1 Reply
@Sir_Ray, We hope you enjoy it. 🌹
Reply
You cover both directions in your idea. It's such a vise. 👌
Reply
Brilliant insight 👌🏻
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