Technical analysis Brent for 08.03.2022

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 123.88. The closest resistance is the level 128.70

Key levels

• 141.00, 134.00, 128.70, 123.88, 120.86, 118.35, 116.04, 113.22, 108.30

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 128.70, with Take Profit of 134.00 and Stop Loss of 123.88

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 123.88, with Take Profit of 118.35 and Stop Loss of 128.70