| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Buy | Neutral | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇘ | ⇗ | ⇗ |
The Brent crude oil has declined by 5.95% against the US Dollar since the beginning of July. The commodity breached the 50– and 200– period SMAs during this week's trading sessions.
Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, short traders might continue to drive the crude oil price down during the following trading sessions.
However, a support level formed by the weekly S1 at 72.48 could provide support for the BRENT.CMD/USD exchange rate in the shorter term.