Technical analysis Brent for 12.12.2022

The Tenkan-sen line is located below the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 79.70. The closest support is the level 76.70

Key levels

• 87.90, 85.20, 79.70, 76.70, 74.00, 71.40

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 79.70, with Take Profit of 85.20 and Stop Loss of 78.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 76.70, with Take Profit of 74.00 and Stop Loss of 78.00