The Brent oil hourly chart shows a bear flag pattern, meaning the corrective rally from the July 18 low of $71.21 has likely ended. Still, the bears are cautioned against being too ambitious as the 100-hour moving average (MA) is holding above the 200-hour MA, indicating the path of least resistance is to the upside. Hourly chart Current Price: $74.26 Daily High: $74.38 Daily Low: $74.16 Trend: Cautiously bearish Resistance R1: $74.38 (resistance on the hourly chart) R2: $74.83 (July 27 high resistance) R3: $75.00 (psychological hurdle) Support S1: $74.11 (support on the hourly chart) S2: $73.96 (100-day MA) S3: $73.27 (200-hour MA) FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: Triangle Nearing An End; What’s The Trade? – BofAML Yohay Elam 5 years The Brent oil hourly chart shows a bear flag pattern, meaning the corrective rally from the July 18 low of $71.21 has likely ended. Still, the bears are cautioned against being too ambitious as the 100-hour moving average (MA) is holding above the 200-hour MA, indicating the path of least resistance is to the upside. Hourly chart Current Price: $74.26 Daily High: $74.38 Daily Low: $74.16 Trend: Cautiously bearish Resistance R1: $74.38 (resistance on the hourly chart) R2: $74.83 (July 27 high resistance) R3: $75.00 (psychological hurdle) Support S1: $74.11 (support on the hourly chart) S2: $73.96 (100-day MA) S3:… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
