BRENT.CMD/USD 4H Chart: Might aim for 66.08 - Trade Pattern Ideas - Dukascopy Bank
Wed, 19 Jun 2019 06:21:54 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Buy
Alligator(13;8;5)
Neutral
Sell
Sell
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇒
⇘
The Brent crude oil traded sideways against the US Dollar during last week's trading sessions. The 50-hour simple moving average provided resistance for the pair during this period.
The commodity breached the 50-hour SMA resistance level during the morning hours of today's trading session.
By and large, it is likely that the BRENT.CMD/USD pair could aim for a resistance cluster formed by the weekly and the monthly R2 at 66.08 during the following trading sessions.
However, the weekly R1 at 64.08 could hinder bulls from pushing the commodity towards the given target.
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