Technical analysis Brent for 12.10.2023

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 descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 86.00. The closest resistance is the level 87.00

Key levels

• 87.75, 87.00, 86.00, 85.50, 84.75

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 86.00, with Take Profit of 87.00 and Stop Loss of 85.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 85.50, with Take Profit of 84.75 and Stop Loss of 86.00