BRENT.CMD/USD 4H Chart: Likely to aim at $63 - Trade Pattern Ideas - Dukascopy Bank
Wed, 21 Aug 2019 06:31:55 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
Sell
Sell
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇒
⇘
Brent Crude, the international benchmark price for purchases of oil, rose above $60 a barrel for the first time in over a week on Wednesday. The surge was attributed to a bigger-than-expected decline in the US crude inventories.
The BRENT.CMD/USD pair is currently testing a resistance level formed by the 100– period simple moving average at 60.27.
Most likely, the commodity is expected to breach the resistance level, as mentioned earlier. The pair could aim for the $63 area before the end of this week's trading session.
However, a resistance cluster at 60.92 could hinder the bullish traders in the short term.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.
To learn more about Dukascopy Bank Binary Options
/ Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Business Introducer and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.