| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The international benchmark for crude oil prices has been trading in a junior descending channel pattern since July 15. The commodity tested the lower border of the channel pattern at 61.50 on July 19.
Everything being equal, it is likely that the BRENT.CMD/USD pair could continue its downward movement within this week's trading sessions. The pair might aim at a support cluster formed by the weekly S1 and the monthly S1 at 60.32.
If the support cluster holds, a potential upside reversal could occur during the following trading sessions.