| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The Brent crude oil prices have lost about 662 base points since the end of April. The commodity has revealed a new junior descending channel pattern.
A support cluster formed by the 50– and 200-day simple moving averages at 69.00 are providing support for the pair on the daily time-frame chart.
If the BRENT.CMD/USD pair passes the support cluster, the next target for bears will be at 68.03 in the short-term.
However, if the 50-and 200-day SMAs holds, a retracement towards a swing high of 75.65 could be expected during the following trading sessions.
Meanwhile, technical indicators flash bullish signals on the weekly time frame chart.