Brent Crude Oil Last Day Financ Commodity Forecast
Stronger technical forecast for Brent Crude Oil Last Day Financ commodity price after Friday trading.
(Updated on Jun 28, 2024)
The Brent Crude Oil Last Day Financ commodity price gained 1.43% on the last trading day (Friday, 28th Jun 2024), rising from $85.26 to $86.48. During the last trading day the commodity fluctuated 0.220% from a day low at $86.29 to a day high of $86.48. The price has been going up and down for this period, and there has been a 2.65% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 more shares were traded than the day before. In total, 48 shares were bought and sold for approximately $4.15 thousand.
Given the current short-term trend, the commodity is expected to fall -7.98% during the next 3 months and, with a 90% probability hold a price between $69.93 and $79.57 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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BZUSD Signals & Forecast
Mostly positive signals in the chart today. 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 $85.45 and $82.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 10.69%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Brent Crude Oil Last Day Financ has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Brent Crude Oil Last Day Financ commodity
Brent Crude Oil Last Day Financ finds support from accumulated volume at $85.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This commodity has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the commodity moved $0.190 between high and low, or 0.220%. For the last week, the commodity has had daily average volatility of 0.160%.
The Brent Crude Oil Last Day Financ commodity is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some commodities may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the commodity manages to break the trend before that occurs.
Our recommended stop-loss: $83.49 (-3.46%) (This commodity has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 69 days ago.)
Trading Expectations (BZUSD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Brent Crude Oil Last Day Financ to open at $86.42, and during the day (based on 14 day Average True Range), to move between $85.60 and $87.36, which gives a possible trading interval of +/-$0.88 (+/-1.02%) 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 2.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $87.11 (0.73%) than the support at $85.81 (0.77%), 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 Brent Crude Oil Last Day Financ commodity A Buy?
Several short-term signals are positive, despite the commodity being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for commodity to perform well in the short-term. We have upgraded our analysis conclusion for this commodity since the last evaluation from a Sell to a Buy candidate.
Current score: 1.349 Buy Candidate Upgraded
Predicted Opening Price for Brent Crude Oil Last Day Financ of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $86.42 ( 0.0732%) | $86.48 |
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 | 86.61 | 0.146% |
| R2 | 86.53 | 0.0625% |
| R1 | 86.49 | 0.0107% |
| Price | 86.48 | |
| S1 | 86.34 | -0.157% |
| S2 | 86.30 | -0.209% |
| S3 | 86.23 | -0.293% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 90.50 | 4.65% |
| R2 | 89.74 | 3.77% |
| R1 | 87.11 | 0.728% |
| Price | 86.48 | |
| S1 | 85.81 | -0.775% |
| S2 | 82.47 | -4.64% |
| S3 | 79.62 | -7.93% |
FAQ
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