BRENT.CMD/USD 4H Chart: Trades between range

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuySellBuy
SAR(0.02;0.2)BuySellSell
Aggregate⇗⇘⇒

[ANNOUNCE]The Brent crude oil prices have been trading between the range of 65.10/61.30 levels since March 12. The commodity breached the upper line of a descending channel pattern during this week's trading sessions.[/ANNOUNCE]

All things being equal, the BRENT.CMD/USD pair could continue to trade sideways during the following trading sessions.

Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, a breakout through a resistance cluster at 65.10 during the following trading sessions.

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