BRENT.CMD/USD 4H Chart: Decline likely to continue

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralSellNeutral
SAR(0.02;0.2)SellBuySell
Aggregate⇘⇒⇘

[ANNOUNCE]The international benchmark for crude oil price Brent has declined by 6.19% since the middle of September. The commodity breached the 50– and 100– period SMAs during yesterday's trading session.[/ANNOUNCE]

As for the near future, the BRENT.CMD/USD exchange rate could continue to edge lower. The potential target for the Brent crude would be near the 39.00 level.

However, a support cluster formed by the monthly S3 and the weekly S2 at the 39.80 area could provide support for bearish traders during the following trading sessions.

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