BRENT.CMD/USD 4H Chart: Tests 200-period SMA - Trade Pattern Ideas - Dukascopy Bank
Wed, 26 Jun 2019 05:02:14 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Sell
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Sell
Neutral
Alligator(13;8;5)
Buy
Neutral
Sell
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇒
⇘
Brent crude oil prices rose more than 7.51% during last week trading sessions. The surge was stopped by a resistance level formed by the 200-period simple moving average at 66.19.
As for the near future, it is likely that crude oil prices will continue to edge higher. The potential target for bullish traders will be near the upper boundary of a descending channel pattern at 6931.
However, a resistance level formed by the weekly R1 at 67.33 could hinder bulls from pushing the commodity higher during the following trading sessions.
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