BRENT.CMD/USD 4H Chart: Two scenarios likely - Trade Pattern Ideas - Dukascopy Bank
Wed, 16 Oct 2019 05:48:35 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)
Neutral
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇒
⇘
The Brent crude oil has been depreciating against the US Dollar since the middle of September after the pair reversed from a psychological resistance level at 70.00 on September 17.
Currently, the commodity is trading near the weekly pivot point at 59.66. Note that the upper line of a descending channel pattern is providing resistance for the exchange rate. Thus, the pair could breach the resistance level and extend gains in the nearest future.
However, if the resistance line set by the descending channel pattern holds, the BRENT.CMD/USD pair will likely continue its southern movement during the following trading sessions.
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.