| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The 50– period simple moving average has been guiding the Brent crude oil prices higher since the beginning of November. The commodity surged by 5.65% during last week's trading sessions.
Currently, the crude oil is trading near a support cluster formed by the 50– period SMA and the lower boundary of an ascending channel pattern at 48.23.
If the support cluster holds, bulls will likely continue to pressure BRENT.CMD/USD higher during the following trading sessions.
However, if the pair breaks the channel pattern, a decline towards the 45.00 level within this week's trading sessions.