| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇒ |
The international benchmark for crude oil price Brent has continued to edge higher. The commodity has surged by 10.97% since the beginning of April.
Currently, the crude oil price is trading near a support cluster formed by the weekly pivot point and the 50– and 200– period SMAs at 65.47.
If the support cluster holds, bullish traders are likely to continue to drive the price higher during the following trading sessions.
However, if the BRENT.CMD/USD pair breaks the support cluster, a decline towards the $63.00 could be expected during next week's trading sessions.