BRENT.CMD/USD 4H Chart: breakout occurs

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

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

The Brent crude oil appreciated about 4.35% against the US Dollar during the last week. However, the surge was stopped by a resistance level formed by the weekly R1 at 66.86.

The commodity breached the lower boundary of an ascending channel pattern at 65.60 during the morning hours of Wednesday's trading session.

Given that a breakout had occurred, it is likely that the BRENT.CMD/USD pair will aim for a support cluster formed by the 200-hour SMA and the weekly S1 at 63.71 during the following trading sessions.

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