BRENT.CMD/USD 4H Chart: Targets at 67.73 - Trade Pattern Ideas - Dukascopy Bank
Wed, 10 Jul 2019 05:20:47 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
Neutral
Alligator(13;8;5)
Buy
Neutral
Sell
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇗
⇘
⇘
The Brent crude oil prices bounced off support cluster formed by the lower boundary of an ascending channel pattern and the weekly S1 at 62.14 against the US Dollar on July 3.
The 50-, 100– and 200-hour SMAs were providing support for the commodity during the morning hours of Wednesday's trading session.
Most likely, the BRENT.CMD/USD pair could aim for the upper border of the channel pattern at 67.73 during the following trading sessions.
However, technical indicators demonstrate that the pair might edge lower in the shorter term.
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