Brent Crude Oil, D1

On the daily chart, the instrument returned to growth after a correction, and it is now trading between the middle line and the bottom border of Bollinger bands. MACD histogram is in the positive region, its volumes are reduced, the signal line is directed downwards. Stochastic could not consolidate in the oversold zone and is currently in the neutral zone, moving horizontally.

Brent Crude Oil, H4

On the 4-hour chart, there is a correction of the downward movement to the middle line of Bollinger bands. MACD histogram is in the negative zone, keeping the signal to open short positions. Stochastic is in the neutral zone, the lines of the oscillator are directed downwards.

Key levels

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

Support levels: 80.11, 78.88, 78.14, 77.20.

Trading tips

In the short term, it is better to open short positions may be opened from the current level with target at 79.00 and stop loss 79.70. Implementation period: 1–3 days.

Long positions can be opened from the level of 82.20 with the target at 83.00. Stop loss is 81.90. Implementation period: 3–5 days.

Brent Crude Oil

BuySellSpread
67.767.6280

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point79.40
Take Profit79.00
Stop Loss79.70
Support levels77.20, 78.14, 78.88, 80.11, 81.69, 83.05, 84.47, 85.79, 87.21

Alternative scenario

RecommendationsBUY STOP
Entry Point82.20
Take Profit83.00
Stop Loss81.90
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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