Technical analysis Brent for 20.11.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below 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 81.75. The closest resistance is the level 83.00

Key levels

• 85.75, 84.25, 83.00, 81.75, 80.75

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 83.00, with Take Profit of 81.75 and Stop Loss of 84.25

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 84.25, with Take Profit of 85.75 and Stop Loss of 83.00