TipTVFinance

Brent oil - sets new 2016 high, watch out for bearish divergence

FX:UKOIL   Crude Oil (Brent)
Resistance - $48.88, $50.00, $50.89

Support - $47.79, $46.80, $45.32

Brent set a new yearly high of $48.63 in Asia is now trading around $48. 44             levels. The previous 2016 high was $48.26.

A negative daily closing today would confirm bearish price RSI divergence on the daily chart following an inside day Doji candle.

Hence, that could open doors for a slide to $46.00 levels, where a violation would shift risk in favor of a drop to $45-43.30.

On the other hand, psychological hurdle at $50.00 could be put to test if prices manage to stay above $48.26. Note the daily chart shows a ‘golden crossover’ (daily 50-MA and daily 100-MA).
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out