| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇘ |
After the Brent crude oil tested the lower boundary of an ascending channel pattern at 57.50, the commodity made a U-turn north. As a result, the pair appreciated about 10.14% in value.
The BRENT.CMD/USD pair tested a resistance cluster formed by the weekly R1 and the monthly R1 at 63.82 during yesterday's trading session. From a theoretical point of view, the pair might make a brief retracement towards the weekly pivot point at 60.46 within the following trading sessions.
If the weekly PP holds, the Brent crude oil price will make an upside reversal before the end of next week's trading sessions.