| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇒ |
The Brent crude oil prices edged higher by about 4.52% in value during the last week's trading sessions. The pair made a new high on May 20.
The BRENT.CMD/USD pair is currently trading near a support cluster formed by the weekly and the monthly PPs and the combination of the 50– and 200-hour SMAs at 71.76.
If the support cluster holds, a breakout through the upper boundary of a downtrend line could occur.
However, if the oil prices pass the cluster as mentioned above, a decline towards the weekly S1 at 70.13 could be expected.