| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Buy |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇘ | ⇘ |
During last week's trading sessions, the Brent crude oil edged higher by 9.65% in value against the US Dollar. The pair breached the upper boundary of a descending channel pattern on February 18.
The commodity will most likely continue to surge within this week's trading sessions. The potential target for bullish traders could be near a resistance cluster formed by the weekly R2, the monthly pivot point and the 200– period simple moving average at 60.76.
However, a resistance level formed by the weekly R1 at 58.92 could provide resistance for the exchange rate in the shorter term.