Brent.CMD/USD 4H Chart: Bullish signals today

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
 MACD(12;26;9) Buy Buy Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Neutral Neutral Sell
 Alligator(13;8;5) Buy Buy Sell
 SAR(0.02;0.2) Buy Buy Buy
 Aggregate

The Brent crude oil prices rose by 4.46% during the last one week. The pair breached both the 50– and 100-hour simple moving averages during this short period of time.

Currently, BRENT.CMD/USD is trading near a resistance level at 63.65. From a theoretical point of view, a pull-back is likely to occur within this trading session.

However, technical indicators flash bullish signals on both the smaller and the larger time frames.  

The short-term target for the oil prices will be at a swing high of 63.65.

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