Brent.CMD/USD 4H Chart: Bullish signals today

The Brent crude oil prices rose by 4.46% during the last one week. The pair breached both the 50– and 100-hour simple moving averages during this short period of time.

Currently, BRENT.CMD/USD is trading near a resistance level at 63.65. From a theoretical point of view, a pull-back is likely to occur within this trading session.

However, technical indicators flash bullish signals on both the smaller and the larger time frames.

The short-term target for the oil prices will be at a swing high of 63.65.



Light.CMD/USD 4H Chart: Tests resistance cluster

The Light crude oil prices edged lower by 5.45% during the last week. However, the decline was stopped by a support level formed by the combination of the weekly and the monthly pivot points at 51.41.

The LIGHT.CMMD/USD pair tested a resistance cluster at 53.58 during the morning hours of Wednesday's trading session.

If the commodity passes the resistance cluster formed by the 50– and 100-hour SMAs and the weekly PP at 53.58, the next target for bullish traders will be near a swing high of 55.59.

However, if the cluster as mentioned above holds, a potential downside movement could be expected within this session.


This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD: it's all about the Fed

The greenback closed the week on a high note, as data released Friday topped the market's consensus, suggesting that the US economy remains in good shape, and therefore the US Federal Reserve won't need to take a dovish turn.


GBP/USD recovers to 1.2600 as UK politics become clearer

While overall US Dollar (USD) strength continues to dominate market sentiment, the GBP/USD pair recovers to near 1.2600 as an outcome of the UK PM’s race becomes clearer during early Monday.


USD/JPY: Tokyo open welcomes risk-on amid quiet trading

The USD/JPY pair trades little positive to 108.60 by the time Tokyo markets open on Monday. Lack of major negative news triggered a market move against the US Dollar.


Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Alone in the dark of outer space...heading to the Moon

It is almost usual practice of the Crypto market that technical extremes occur at the end of the working week – setting the stage for action over the weekend.

Read more

Gold surges through $1350 level, highest since April 2018

Gold caught some aggressive bids in the last hour and surged to the highest level since April 2018, around the $1358 region.

Gold News