Technical analysis Brent for 15.03.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 98.60. The closest resistance is the level 102.40

Key levels

• 118.30, 112.30, 108.50, 105.50, 102.40, 98.60, 92.70, 88.75

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 102.40, with Take Profit of 92.70 and Stop Loss of 105.50

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 105.50, with Take Profit of 112.30 and Stop Loss of 102.40