| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇒ |
The Brent crude oil prices have declined by about 14.60% in value since September 17. The commodity is currently trading in a junior descending channel pattern.
The BRENT.CMD/USD pair will most likely maintain the junior descending channel within this week's trading session. Bearish traders could aim for the lower boundary of the channel pattern at 55.63.
However, a support level formed by the weekly S2 at 58.21 might provide support for the exchange rate during the following trading sessions.
In the meantime, technical indicators flash sell signals on both the smaller and the larger time-frame charts.