.BRENT 4 days
| Chart date range |
15-Apr 00:00 GMT-> 11-Jun 00:00 GMT |
| Data Interval |
4 Hour |
Summary
| Target Level |
|
76.51 |
| Target Period |
|
4 days |
| Stop Level |
|
70.46 |
Analysis
Triangle identified at 09-Jun 12:00 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 76.51 within the next 4 days.
Supporting Indicators
Upward sloping Moving Average
Resistance Levels
| (B) |
76.51 |
|
Last resistance turning point of Triangle. |
| (H) |
75.35 |
|
Last resistance turning point of Channel Down. |
Support Levels
| (A) |
70.46 |
|
Last support turning point of Triangle. |
| (E) |
68.13 |
|
Last support turning point of Channel Down. |
Brent has broken through two resistance levels of a Triangle and a Channel Down on the 4 hour time-frame; however they have not been very convincing breakouts. They are nevertheless providing some confirmation of a gradual upward sloping trend that is developing. Price is currently near the resistance of this new range at (B), which can either be broken or touched before sending the price to support near $72.
|
