. Brent Crude Oil Trading Analysis: Bearish Signals - 20 March 2023

Brent Crude Oil Trading Analysis: Bearish Signals – 20 March 2023

20 Mar 2023

Brent Crude Oil Technical Analysis: Weekly Chart

weekly chart

In the weekly charts, Brent Crude Oil is trading in a downward channel. Brent is currently trading below the middle line of the Bollinger band.

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

Its immediate support is 60.00 & the resistance level is at 95.00

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

Brent Crude Oil Technical Analysis: Daily Chart

weekly chart

In the daily charts, Brent was trading in an upward channel. Brent is currently trading below the middle line of the Bollinger band.

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

Its immediate support is 60.00 & the resistance level is at 90.00

Brent was traded in an up channel before there was 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 70.76, TAKE PROFIT AT 65.20, AND STOP LOSS AT 75.20