Brent Crude Oil Last Day Financ Commodity Forecast
Red day on Tuesday for Brent Crude Oil Last Day Financ
(Updated on Jun 25, 2024)
No changes to the price of Brent Crude Oil Last Day Financ commodity on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the commodity fluctuated 0% from a day low at $85.21 to a day high of $85.21. The price has risen in 4 of the last 10 days and is up by 3.7% over the past 2 weeks.
The commodityhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $84.70, a level that may pose a second chance to hit a runner. According to fan-theory $93.21 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BZUSD Signals & Forecast
The Brent Crude Oil Last Day Financ commodity holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $85.08 and $82.60. 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 Tuesday, June 18, 2024, and so far it has fallen -0.0704%. 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.
A buy signal from a double bottom formation was found on Tuesday, May 14, 2024 with a target of $84.83. Despite whether the objective of the signal formation has been reached the commodity may continue to perform well.
Support, Risk & Stop-loss for Brent Crude Oil Last Day Financ commodity
Brent Crude Oil Last Day Financ finds support from accumulated volume at $83.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the commodity 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 commodity During the last day, the commodity moved $0 between high and low, or 0%. For the last week the commodity has had daily average volatility of 0.0754%
The Brent Crude Oil Last Day Financ commodity is extremely overbought on RSI14 (94). Normally this may pose a good selling opportunity but since the commodity has broken the trend up, the chance for a major correction due to high RSI is very small as the commodity will find support at the trend broken.
Our recommended stop-loss: $82.55 (-3.12%) (This commodity has low daily movements and this gives low risk. The RSI14 is 94 and this increases the risk substantially. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (BZUSD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Brent Crude Oil Last Day Financ to open at $85.21, and during the day (based on 14 day Average True Range), to move between $84.45 and $85.97, which gives a possible trading interval of +/-$0.756 (+/-0.89%) up or down from last closing price. If Brent Crude Oil Last Day Financ takes out the full calculated possible swing range there will be an estimated 1.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $83.67 (1.81%) than the resistance at $87.00 (2.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Brent Crude Oil Last Day Financ commodity A Buy?
Brent Crude Oil Last Day Financ 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 Brent Crude Oil Last Day Financ of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $85.21 ( 0%) | $85.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BZUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 85.21 | - |
| R2 | 85.21 | - |
| R1 | 85.21 | - |
| Price | 85.21 | |
| S1 | 85.21 | - |
| S2 | 85.21 | - |
| S3 | 85.21 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 90.50 | 6.21% |
| R2 | 89.74 | 5.32% |
| R1 | 87.00 | 2.10% |
| Price | 85.21 | |
| S1 | 83.67 | -1.81% |
| S2 | 82.47 | -3.22% |
| S3 | 79.62 | -6.56% |
FAQ
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