BRENT.CMD/USD 4H Chart: Targets at 82.17 - Trade Pattern Ideas - Dukascopy Bank

Mon, 08 Oct 2018 06:37:56 GMT
Source: Dukascopy Bank SA
 

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Sell
Stochastic (5; 3) Neutral Neutral Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

Brent.CMD has been appreciating against the US Dollar since the middle of August after the commodity price bounced off from the lower boundary of an ascending channel at 70.21.

The commodity price opens below the 50-hour simple moving average during Monday's session. From a technical point of view, it is expected that the pair aims at the weekly S1 at 82.17 within this session.

If the support level as mentioned above holds, the price could reverse north and target a resistance line formed by the monthly pivot point at 85.70 during the following trading sessions.


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