BRENT.CMD/USD 4H Chart: Reaches $72 mark - Trade Pattern Ideas - Dukascopy Bank
Wed, 17 Apr 2019 06:07:22 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Sell
Neutral
Stochastic(5;3;3)
Sell
Sell
Sell
Alligator(13;8;5)
Buy
Buy
Neutral
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇒
⇒
The 50-hour simple moving average guided the Brent crude oil during last week's trading session. The commodity reached the $72 mark during Tuesday's trading session.
Everything being equal, it is likely that the Brent crude oil prices will continue to gain strength against the US Dollar. The potential upside targets for the pair will be at the $74.00.
However, a resistance level formed by the weekly R1 at 72.19 could provide resistance to the BRENT.CMD/USD pair during the following trading sessions.
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