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 trough is formed in daily chart at 50.55 on 12/23/2020, so more gains to resistance(s) 58.65, 62.30, 66.05 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 76.

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Comments

Super perfect analysis.
+3 Reply
ForecastCity Sophi2018
@Sophi2018,  Thank you for your comment. We appreciate it 🌹
Reply
Many thanks for sharing this chart.
+2 Reply
ForecastCity Megan_forex
@Megan_forex, Happy to be of help!
Reply
It's hilarious. Thank you so much.
+1 Reply
ForecastCity Josef_anderson
@Josef_anderson, You're welcome 👍
Reply
Cheers 👍
+1 Reply
@Kamryn, Cheers 👍
Reply
It's nice and very detailed idea. Thanks 🌴💐🌴
+1 Reply
ForecastCity Kristalyn
@Kristalyn, You're welcome.
Reply
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