| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Buy | Neutral | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇘ |
The UKOIL has been trading in a narrow ascending channel against the US Dollar. The commodity price tested the upper boundary of the channel pattern at 62.39 on January 11 and subsequently made a pullback south.
The BRENT.CMD/USD pair was trading below a traditional weekly pivot point level at 61.71 during the morning hours of Thursday's trading session.
If the Brent crude oil passes the weekly PP as mentioned earlier, there could be a potential upside breakout during the following trading sessions.
However, if the resistance level holds, it is likely that the pair edges lower toward the weekly S1 at the 57.68 area today.