BRENT.CMD/USD 4H Chart: Likely to edge higher

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)BuyBuySell
Aggregate

The international benchmark for crude oil price Brent Crude has surged by 4% since this week's trading sessions. The commodity breached the $76.50 mark on July 1.

As for the near future, the Brent Crude oil is likely to continue to trend bullish in an ascending channel pattern. Long traders could target the $80 mark during the following trading weeks.

However, the weekly resistance level at 77.17 could provide resistance for the BRENT.CMD/USD pair during the following trading sessions.

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