Brent Crude Oil Technical Analysis & Trading Suggestions

Brent Crude Oil Technical Analysis

BRENT CRUDE OIL Price Technical Analysis: Weekly Chart

In the weekly charts, Brent Oil is trading in an upward channel.

Brent Oil is near its crucial support of 20-days SMA. If it breaks this support, it will possibly test the 50-days SMA level.

Brent Oil will follow an uptrend in the coming weeks.

The  Brent Oil crucial support level is at 73.02 which is near 20 days SMA as of now. There are no signs of a bearish trend.

Brent Oil is trading Above All the moving averages. RSI which is 76.46. Suggest Brent Oil  to move in  a Positive  Direction

Bulls have their tight grip on Brent Oil.

TRADE SIGNAL-   Brent Oil– Buy: 117.20, TARGET:-119.20, STOP LOSS:- 116.20

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