| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The Brent crude oil prices have depreciated about 8.15% against the US Dollar since last week's trading sessions. The pair tested the lower boundary of a junior descending channel pattern at 67.00.
The BRENT.CMD/USD pair is currently trading near a resistance cluster formed by the combination of the 50-, 100– and 200-hour SMAs at 70.79.
If the pair passes the resistance cluster, buyers could drive the commodity towards a swing high of 72.79 during the following trading sessions.
However, if the cluster as mentioned earlier holds, a breakout through the bottom border of the channel pattern could occur in the nearest future.