Brent
Brent quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has broken the support line, exiting the overbought area. As a result, in this situation, the price is expected to test the 4/8 (87.50) level, rebound from it, and rise to the resistance at 6/8 (93.75). The scenario could be cancelled by breaking below the 4/8 (87.50) level. In this case, Brent quotes could decline to the support at 3/8 (84.38).
Risk Warning: the result of previous trading operations do not guarantee the same results in the future
On M15, following a rebound from the 4/8 (87.50) level on D1, the price rise could be additionally confirmed by a breakout of the upper line of the VoltyChannel.
Origin: RoboForex
