Brent Crude Oil Technical Analysis – 06 September 2022

Brent Crude Oil Technical Analysis

Brent Crude Oil Technical Analysis: Weekly Chart

Brent Crude Oil Technical Analysis

In the weekly charts, Brent Crude Oil is trading in a down channel. Brent is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 92.00 & the resistance level is at 98.00

Brent will trade in a down channel until there is a trend reversal.

Brent Crude Oil Technical Analysis: Daily Chart

Brent Crude Oil Technical Analysis

In the daily charts, Brent is trading in a down channel. Brent is currently trading below all SMA except MA(5).

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 93.00 & the resistance level is at 96.00

Brent will trade in a down channel until there is a trend reversal.

How to Trade Brent Crude Oil this Week:

Brent will follow the downtrend until its trend reversal. So, remain bearish on Brent

TRADE SUGGESTION- SELL AT 94.76, TAKE PROFIT AT 94.20 AND STOP LOSS AT 95.20

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