BRENT.CMD/USD 4H Chart: Tests 200-period SMA

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

[ANNOUNCE]Brent crude oil prices rose more than 7.51% during last week trading sessions. The surge was stopped by a resistance level formed by the 200-period simple moving average at 66.19.[/ANNOUNCE]

As for the near future, it is likely that crude oil prices will continue to edge higher. The potential target for bullish traders will be near the upper boundary of a descending channel pattern at 6931.

However, a resistance level formed by the weekly R1 at 67.33 could hinder bulls from pushing the commodity higher during the following trading sessions.

Actual Topics