| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇒ |
Since August 23, the Brent crude oil price has surged by 12.30%. The commodity breached the 50– and 200– period simple moving averages during this week's trading sessions.
Technical indicators suggest buying signals on the 4H and daily time-frame charts. Most likely, the crude oil could continue to trend bullish during the following trading sessions.
However, the upper boundary of a descending channel pattern could provide resistance for the BRENT.CMD/USD pair in the shorter term.