BRENT, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The indicator is directed down while the price range is expanding. MACD histogram entered the negative zone and formed a sell signal. Stochastic is approaching the oversold zone.
BRENT, H4
On the 4-hour chart, the instrument broke down a strong support level at 47.38. Bollinger Bands is directed horizontally while the price range is narrowing, suggesting a change in the trend possibility. MACD histogram is trying to turn up but keeping a sell signal. Stochastic is about to enter the oversold zone.
Key levels
Support levels: 46.47 (local low), 46.09, 45.71 (lower MA of Bollinger Bands).
Resistance levels: 47.38, 47.91, 48.63 (middle MA of Bollinger Bands), 49.20.
Trading tips
Short positions can be opened from current prices with the target at 45.71 and stop-loss at 47.38. Validity – 1-2 days.
Long positions can be opened from the level of 47.91 with targets at 48.30, 48.65 and stop-loss at 47.15. Validity – 1-2 days.
On the daily chart, the instrument is trading in the lower Bollinger band. The indicator is directed down while the price range is expanding. MACD histogram entered the negative zone and formed a sell signal. Stochastic is approaching the oversold zone.
BRENT, H4
On the 4-hour chart, the instrument broke down a strong support level at 47.38. Bollinger Bands is directed horizontally while the price range is narrowing, suggesting a change in the trend possibility. MACD histogram is trying to turn up but keeping a sell signal. Stochastic is about to enter the oversold zone.
Key levels
Support levels: 46.47 (local low), 46.09, 45.71 (lower MA of Bollinger Bands).
Resistance levels: 47.38, 47.91, 48.63 (middle MA of Bollinger Bands), 49.20.
Trading tips
Short positions can be opened from current prices with the target at 45.71 and stop-loss at 47.38. Validity – 1-2 days.
Long positions can be opened from the level of 47.91 with targets at 48.30, 48.65 and stop-loss at 47.15. Validity – 1-2 days.