| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Buy | Buy |
| Stochastic (5; 3) | Sell | Neutral | Buy |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇒ |
The Brent crude oil has been depreciating since the beginning of October after the commodity reversed from a three-year high level at 86.66.
The Brent.CMD/USD crude oil price was trading near a resistance cluster formed by the combination of the 50-hour simple moving average and the traditional weekly pivot point at 61.79 during the morning hours of Friday's trading session. Technical indicators are in favour of a decline within this session.
If the resistance level as mentioned above holds, a breakout through the lower boundary of the given channel pattern is likely to occur in the nearest future.
The possible downside target will be the psychological support level at 55.00.