Brent
Brent quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. However, the RSI is in the overbought area. As a result, in this situation, the price is expected to rebound from the 5/8 (90.62) level and drop to the support at 4/8 (87.50). The scenario could be cancelled by breaking above the 5/8 (90.62) level. In this case, Brent quotes could maintain their upward trajectory, potentially reaching the resistance at 6/8 (93.75).
Origin: RoboForex
