| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
Brent crude oil, the benchmark price for purchases of oil worldwide, fell by 6.76% in value during last week's trading session. The commodity breached both the 50-, 100– and 200-hour SMAs.
The BRENT.CMD/USD pair is currently testing a support level formed by the weekly S2 at 62.29.
If the support line holds, a surge towards a psychological resistance level at 70.00 could be expected.
On the other hand, if the pair passes the weekly S2, the next target for bearish traders will be at the $59 mark.