BRENT.CMD/USD 4H Chart: Could still edge up - Trade Pattern Ideas - Dukascopy Bank

Wed, 11 Dec 2019 06:50:28 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuySell
Aggregate

During last week trading sessions, the Brent crude oil prices appreciated by 7.05% in value. The exchange rate breached a resistance level formed by the weekly R1 at 63.79.

Everything being equal, the BRENT.CMD/USD will most likely continue its upward movement during the following trading sessions. The possible target will be at the 66.77 area.

A potential downside reversal could occur from the 66.77 area, which is the weekly R1 and the monthly R2 during the following trading sessions.


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