Brent oil trying to raise relative prices - H4

The Brent 4-hour chart has seen a sharp drop in prices in recent weeks due to the spread of the Corona virus and the severe global economic downturn and lower demand for oil. As long as the price drops to $ 25 a barrel, but given the support at $ 25 a barrel, we expect Brent to return to $ 40 to $ 45 a barrel in the coming days.

The most important support lines for Brent oil :

S3 : 24.54

S2 : 25.24

S1 : 26.00

Pivot Points : 26.75

R1 : 28.32

R2 : 29.43

R3 : 30.25

Brent oil Technical Analysis:

Indicator Analysis:

Up Signal:

STOCH(9,6)

ADX(14)

Williams %R

ROC

Bull/Bear Power(13)

Descending signal:

MACD(12,26)

Ultimate Oscillator

Moving Averages:

Up Signal:

MA 5

MA 10

MA 20

Descending signal:

MA 50

MA 100

MA 200



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Ara Narbeh

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