| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
Brent Crude, the international benchmark price for purchases of oil, rose above $60 a barrel for the first time in over a week on Wednesday. The surge was attributed to a bigger-than-expected decline in the US crude inventories.
The BRENT.CMD/USD pair is currently testing a resistance level formed by the 100– period simple moving average at 60.27.
Most likely, the commodity is expected to breach the resistance level, as mentioned earlier. The pair could aim for the $63 area before the end of this week's trading session.
However, a resistance cluster at 60.92 could hinder the bullish traders in the short term.