| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Sell | Sell |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇓ |
The Brent crude oil prices bounced off the 200– period simple moving average at 60.50 on November 20. As a result, the commodity has appreciated about 5.65% in value during this period.
All things being equal, the Brent.CMD/USD pair will likely target a resistance cluster formed by the monthly R2 and weekly R1 at 65.54.
If the resistance cluster holds, a brief retracement towards the 62.74 area could be expected in the short term.
However, if the pair breaks the cluster, the next target for bullish traders would be at a psychological level at 68.00.