FIS Technical – Brent Futures

FIS Technical – Brent Futures

Price action is bullish on the Brent futures due to the fractal breakout, increasing open interest and higher volume on bull days with the RSI now above 50.

However, we remain below the 200-period moving average which is often used as a bell weather to gauge a long-term trend whilst the stochastic is overbought with the stochastic in overbought territory suggesting short -term momentum is starting to look overextended.

 

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