Wisdomtree Bloomberg Brent Crude Oil Etf ETF Forecast
Red day on Monday for Wisdomtree Bloomberg Brent Crude Oil Etf ETF after losing 0.272%
(Updated on Jun 17, 2024)
The Wisdomtree Bloomberg Brent Crude Oil Etf ETF price fell by -0.272% on the last day (Monday, 17th Jun 2024) from £3,303.00 to £3,294.00. During the last trading day the ETF fluctuated 0% from a day low at £3,294.00 to a day high of £3,294.00. The price has been going up and down for this period, and there has been a 0.52% gain for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -32 shares and in total, 0 shares were bought and sold for approximately £0 .
The ETF lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -7.22% during the next 3 months and, with a 90% probability hold a price between £2,815.43 and £3,181.73 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BRNB.L Signals & Forecast
The Wisdomtree Bloomberg Brent Crude Oil Etf ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £3,211.71 and £3,291.13. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -0.272%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Wisdomtree Bloomberg Brent Crude Oil Etf ETF
Wisdomtree Bloomberg Brent Crude Oil Etf finds support from accumulated volume at £3,208.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved £0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.714%
Our recommended stop-loss: £3,163.02 (-3.98%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (BRNB.L) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Wisdomtree Bloomberg Brent Crude Oil Etf to open at £3,294.00, and during the day (based on 14 day Average True Range), to move between £3,246.73 and £3,341.27, which gives a possible trading interval of +/-£47.27 (+/-1.44%) up or down from last closing price. If Wisdomtree Bloomberg Brent Crude Oil Etf takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £3,316.00 (0.67%) than the support at £3,208.00 (2.61%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Wisdomtree Bloomberg Brent Crude Oil Etf ETF A Buy?
Wisdomtree Bloomberg Brent Crude Oil Etf holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.386 Hold/Accumulate Unchanged
Predicted Opening Price for Wisdomtree Bloomberg Brent Crude Oil Etf of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| £3,294.00 ( 0%) | £3,294.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRNB.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,294.00 | - |
| R2 | 3,294.00 | - |
| R1 | 3,294.00 | - |
| Price | 3,294.00 | |
| S1 | 3,294.00 | - |
| S2 | 3,294.00 | - |
| S3 | 3,294.00 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,468.00 | 5.28% |
| R2 | 3,327.00 | 1.00% |
| R1 | 3,316.00 | 0.668% |
| Price | 3,294.00 | |
| S1 | 3,208.00 | -2.61% |
| S2 | 3,122.00 | -5.22% |
| S3 | 3,061.50 | -7.06% |
FAQ
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