| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The international benchmark for crude oil price Brent has surged by 6.30% since August 24. The 50– and 100- period simple moving averages provided support for the pair during last week's trading sessions.
As for the near future, the commodity could continue to edge higher in an ascending channel pattern. Bullish traders could target the $47 mark during the following trading sessions.
However, the weekly resistance level at 46.66 could provide resistance for the BRENT.CMD/USD pair in the shorter term.