Technical analysis Brent for 07.04.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 101.20. The closest resistance is the level 103.15

Key levels

• 120.00, 114.35, 110.65, 107.65, 104.85, 103.15, 101.20,95.50

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 103.15, with Take Profit of 107.65 and Stop Loss of 101.20

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 101.20, with Take Profit of 95.50 and Stop Loss of 103.15