BRENT.CMD/USD 4H Chart: Guided by 50-hour SMA

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

The Brent crude oil prices have appreciated about 3.49% in value against the US Dollar since last week's trading session. The pair tested a resistance level at 71.45 during yesterday's session.

Most likely, the BRENT.CMD/USD pair will make a retracement down towards a support cluster formed by the weekly R1 and the 50-hour simple moving average at 69.50 during the following trading sessions.

If the support cluster holds, the community will aim for the 75.80 mark in the nearest future.

Meanwhile, technical indicators flash strong buy signals on the daily time-frame chart.

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