Technical analysis Brent for 04.07.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 114.80. The closest support is the level 112.00

Key levels

• 118.50, 116.80, 114.80, 112.00, 110.60, 108.40

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 114.80, with Take Profit of 116.80 and Stop Loss of 113.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 112.00, with Take Profit of 110.60 and Stop Loss of 113.50