| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇒ |
The 50– period simple moving average has been pushing the Brent crude oil higher since the beginning of June. The commodity reached a 14-month high at 74.88 on June 16.
Technical indicators suggest buying signals on the daily time-frame chart. Most likely, long traders will continue to pressure the crude oil price higher during the following trading sessions.
However, the upper boundary of an ascending channel pattern at the 75.00 level could provide resistance for the BRENT.CMD/USD index within this week's trading sessions.