TipTVFinance

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

FX:UKOIL   CFDs on 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).
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out