Brent Oil Technical Analysis: Doji signals indecision, focus on today's close
Signs of indecision have emerged in the Brent oil market. The black gold hit a high of $63.62 yesterday - a level last seen on Dec. 7 - but ended up created a doji candle on the daily chart, which is widely considered a sign of indecision in the market.
Daily chart
-636849431206557624.png)
A close above the previous day's high of $63.62 would imply bullish doji continuation or further rally toward $65.00.
A close below the previous day's low of $61.30 would mean a bullish-to-bearish trend change, that is, the rally from the Dec. 26 low has ended and the bears have likely regained control.
Trend: Neutral
Brent Oil
Overview:
Today Last Price: 62.75
Today Daily change: 0.00 pips
Today Daily change %: 0.00%
Today Daily Open: 62.75
Trends:
Daily SMA20: 61.37
Daily SMA50: 59.41
Daily SMA100: 66.35
Daily SMA200: 71.19
Levels:
Previous Daily High: 63.63
Previous Daily Low: 61.28
Previous Weekly High: 62.97
Previous Weekly Low: 59.4
Previous Monthly High: 63.03
Previous Monthly Low: 52.57
Daily Fibonacci 38.2%: 62.73
Daily Fibonacci 61.8%: 62.18
Daily Pivot Point S1: 61.48
Daily Pivot Point S2: 60.2
Daily Pivot Point S3: 59.13
Daily Pivot Point R1: 63.83
Daily Pivot Point R2: 64.9
Daily Pivot Point R3: 66.18