Wisdomtree Bloomberg Brent Crude Oil Etf ETF Forecast

Wisdomtree Bloomberg Brent Crude Oil Etf ETF price down 0% on Friday
(Updated on Jun 28, 2024)

BRND.MI Signals & Forecast

The Wisdomtree Bloomberg Brent Crude Oil Etf ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately 40.06€. On a fall, the ETF will find some support from the long-term average at approximately 38.62€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 21, 2024, and so far it has fallen -0.94%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". 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 38.01€ 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 0.0698%

Our recommended stop-loss: 38.47€ (-3.57%) (This ETF has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (BRND.MI) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Wisdomtree Bloomberg Brent Crude Oil Etf to open at 39.90€, and during the day (based on 14 day Average True Range), to move between 39.33€ and 40.46€, which gives a possible trading interval of +/-0.564€ (+/-1.41%) 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 2.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 40.07€ (0.44%) than the support at 38.01€ (4.74%), 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: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Wisdomtree Bloomberg Brent Crude Oil Etf of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.