| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The Brent crude oil prices have edged lower by 7.11% since October 14. The commodity breached the $40.50 mark during this week's trading sessions.
Currently, the Brent crude futures are trading near the lower boundary of a descending channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the monthly support level at 38.78 could be expected during the following trading sessions.
However, if the channel pattern holds, the BRENT.CMD/USD pair could make a brief retracement towards the $42.00 level within this week's trading sessions.