| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Sell | Sell | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The Brent crude oil prices have surged by 6.85% during this week's trading sessions. The 50– and 100– period SMAs provided support for the commodity on January 4.
Given that the BRENT.CMD/USD pair has bounced off from the lower boundary of an ascending channel pattern. Bullish traders are likely to pressure the crude oil prices towards the $57 mark during the following trading sessions.
However, a resistance level at the 55.00 area could provide a barrier for bulls within this week's trading sessions.