Technical analysis Brent for 04.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 109.25. The closest resistance is the level 115.75

Key levels

• 120, 115.75, 109.25, 105.75, 99.75, 93.75, 89

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 115.75, with Take Profit of 120 and Stop Loss of 110

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 105.75, with Take Profit of 99.75 and Stop Loss of 109.25