BRENT/USD 4H Chart: Set to lose ground

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) Neutral Neutral Sell
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Due to a noticed increase in demand for Brent oil trading on the Dukascopy Swiss Foreign Exchange Marketplace a review of the commodity price's movements is being done. 

In general, since the previous review of the commodity price it has finished its movements in the borders of a long term channel up pattern, which was marked in November. Instead of that a new pattern has formed, which has the form of a slightly tilted channel down. 

Meanwhile, in regards to the short term, expect the decline down to the lower trend line of the mentioned channel after passing the 61.77 level, where the first weekly support is located at.

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