| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The Brent crude oil prices have surged by 5.14% since last week's trading sessions. The commodity tested a resistance level formed by the 50– period simple moving average at 41.71 during the Asian session on Wednesday.
If the 50– period SMA holds, a breakout through the lower boundary of an ascending channel pattern could occur during the following trading sessions.
However, if BRENT.CMD/USD breaches the resistance level, a surge towards the $44 could be expected in the near future.
Meanwhile, technical indicators suggest bullish signals on both the smaller and the larger time-frame charts.