Brent Crude Oil, D1

On the daily chart, the instrument was corrected to the middle line of Bollinger bands, the upward trend is still relevant. MACD histogram is in the positive area, retaining the signal to open long positions. Stochastic is ready to cross the oversold zone border downwards.

Brent Crude Oil, H4

On the 4-hour chart, the upward movement is in the correction, the instrument is traded around the lower border of Bollinger bands, the price range is expanded. MACD histogram is in the negative zone, the signal line crosses the body of the histogram downwards, forming a signal for opening short orders. Stochastic has left the oversold zone, having formed a buy signal, the oscillator lines are directed upwards.

Key levels

Support levels: 80.11, 78.88, 78.14, 77.20.

Resistance Levels: 81.69, 83.05, 84.47, 85.79, 87.21.

Trading tips

Short positions can be opened in the short term from the level of 80.00 with the target at 78.15 and the stop loss at 80.70.

Long positions can be opened from the level of 83.40 with the target at 84.40 stop loss at 83.00.

Implementation period: 1–3 days.

Brent Crude Oil

BuySellSpread
67.6367.5580

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point80.00
Take Profit78.15
Stop Loss80.70
Support levels77.20, 78.14, 78.88, 80.11, 81.69, 83.05, 84.47, 85.79, 87.21

Alternative scenario

RecommendationsBUY STOP
Entry Point83.40
Take Profit84.40
Stop Loss83.00
Support levels77.20, 78.14, 78.88, 80.11, 81.69, 83.05, 84.47, 85.79, 87.21
Brent Crude Oil: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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