Brent.CMD/USD 4H Chart: Remains near 61.65

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) Sell Neutral Sell
Alligator (13; 8; 5) Neutral Buy Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The Brent crude oil has continued to appreciate in a junior ascending channel pattern against the US Dollar. The pair has been guided up by the 100-hour simple moving average.

The Brent.CMD/USD pair was trading a resistance cluster at 61.65 during the Asian session on Wednesday.

If the resistance line as mentioned above holds, a potential pullback towards a support cluster at 58.72 could follow.

However, if the UKOIL breaches the resistance cluster at 61.65, the next target for bullish traders will be near a swing high of 63.06.

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