BRENT.CMD/USD 4H Chart: Bulls likely to prevail

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)SellSellNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇒⇒⇒

[ANNOUNCE]The Brent crude oil prices have surged by 14.18% during the last two weeks. The BRENT.CMD/USD exchange rate breached the $48 level during the morning hours on Wednesday.
[/ANNOUNCE]
All things being equal, the commodity could continue to trend bullish through the following trading sessions. The potential target for bulls would be near the $50 mark.

On the other hand, the crude oil could make a brief retracement towards the 60.00 level within this week's trading session.

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