BRENT.CMD/USD 4H Chart: Upward swing to continue - Trade Pattern Ideas - Dukascopy Bank
Wed, 13 Nov 2019 06:57:01 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Sell
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇗
⇒
⇘
The Brent crude oil prices have appreciated about 5.92% in value since October 31. The commodity was pressured up by the 50– period simple moving average during last week's trading sessions.
The Brent.CMD/USD pair will most likely continue the upward swing in the coming days. The pair could aim for the weekly R1 at 63.77 during this week's trading sessions.
However, a resistance cluster formed by the combination of the weekly pivot point and the monthly R1 at 62.45 might provide a significant resistance for the pair in the short-term.
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