| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
The international benchmark for crude oil price Brent has surged by 7.93% since March 24. The surge was stopped by the 200– period simple moving average during last week's trading sessions.
The commodity is currently trading near the upper boundary of a descending channel pattern and could be set for a breakout.
If the breakout occurs, buyers could target the $69.00 mark during the following trading sessions.
However, if the channel pattern holds, the BRENT.CMD/USD pair might continue to edge lower in the descending channel during this week's trading sessions.