| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The BRENT.CMD/USD pair has depreciated about 13% in value since May 29. The crude oil prices tested the bottom border of a medium-term descending channel pattern at 59.56 on June 5.
Most likely, the pair will continue its decline in the coming days. Bearish traders could drag the international benchmark for oil price towards a support level formed by the weekly S2 at 57.99.
If the support level holds, the pair could aim for the 50-hour simple moving average at 62.13.
Furthermore, technical indicators flash strong sell signals on both the smaller and the larger time-frame charts.