BRENT/USD 4H Chart: Remains near 55.81 - Trade Pattern Ideas - Dukascopy Bank
Thu, 27 Dec 2018 07:46:17 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Sell
RSI (14)
Neutral
Buy
Buy
Stochastic (5; 3)
Sell
Neutral
Neutral
Alligator (13; 8; 5)
Sell
Sell
Sell
SAR (0.02; 0.2)
Buy
Sell
Sell
Aggregate
⇘
⇘
⇘
The BRENT.CMD/USD has depreciated more than 890 base points since December 17. This decline was stopped by a support level formed by the weekly S1 at 50.43.
The UK crude oil regained about 10.18% of its lost values during Wednesday's trading session. Currently, the pair is trading near a resistance cluster formed by the weekly PP and the 50-hour simple moving average at 55.81.
If this resistance cluster holds, the commodity will continue to edge lower within this session.
However, if the price passes the 50-hour SMA, the next target for the crude oil price will be at the 58.00 mark.
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