BRENT.CMD/USD 4H Chart: Likely to trade sideways

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralBuyBuy
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuyBuySell
Aggregate⇒⇒⇒

[ANNOUNCE]The benchmark for international crude oil prices Brent has been trading sideways since the beginning of last week's trading sessions. The commodity tested the $25 mark on March 30. [/ANNOUNCE]

The BRENT.CMD/USD pair is currently trading near the 50– period simple moving average at 25.85.

If the resistance line, formed by the 50– period SMA holds, a potential breakout through the lower boundary of a descending channel pattern could occur within this week's trading session.

However, technical indicators suggest that the pair might continue to trade sideways during the following trading sessions.

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