| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
International benchmark Brent crude futures has depreciated about 10.32% in value since July 31. The commodity reached an eight-month low at 58.90 during the Asian session on Wednesday.
Most likely, the BRENT.CMD/USD could make a brief retracement from a support level formed by the monthly S2 at 58.07 within the following trading sessions. The potential target for the pair will be near a resistance cluster set by the 50-hour simple moving average and the weekly pivot point at 62.61.
However, technical indicators demonstrate that the crude oil prices would continue its southern movement in the short-term.