Technical analysis Brent for 07.11.2023
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 82.25. The closest resistance is the level 83.25
Key levels
- 85.75, 84.50, 83.25, 82.25, 81.25
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 82.25, with Take Profit of 81.25 and Stop Loss of 83.25
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 83.25, with Take Profit of 84.50 and Stop Loss of 82.25
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.