| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The Brent crude oil price has surged by 15.83% against the US Dollar since the beginning of February. The commodity breached the 63.00 level during this week's trading sessions.
As for the near future, the BRENT.CMD/USD pair could continue to edge higher. A breakout through the upper line of an ascending channel pattern could occur within this week's trading sessions.
However, if the channel pattern holds, bearish traders are likely to pressure the crude oil price lower during the following trading sessions.