Brent Crude Oil Technical Analysis – 12 September 2022
12 Sep 2022
Brent Crude Oil Technical Analysis: Weekly Chart
In the weekly charts, Brent Crude Oil is trading in a down channel. Brent Crude oil 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 90.10 the resistance level at 92.50
Brent Crude oil will trade in a down channel until there is a trend reversal.
Brent Crude Oil Technical Analysis: Daily Chart
In the daily charts, Brent Crude Oil is trading in a down channel. Brent Crude Oil 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 90.30 the resistance level is at 91.50
Brent Crude Oil will trade in a down channel until there is a trend reversal.
How to Trade Brent Crude Oil this Week:
Brent Crude Oil will follow the downtrend until its trend reversal. So, remain bearish on Brent Crude Oil