BRENT/USD 4H Chart: Declines as expected

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

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

The Brent oil prices have declines, as it was expected. The reason for the decline was the meeting of the upper trend line of a dominant ascending channel pattern above the 64.00 mark at the start of November. 

In general, the pair begun the decline, and it can be stated that it will reach for the lower trend line of the mentioned dominant pattern. However, Dukascopy analysts have not discovered a fully confirmed junior pattern, which would guide the commodity price lower. 

Due to that reason and the close by support levels near the 61.00 level, sideways fluctuations are possible.

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