LiteForex - Analytics

    LiteForex

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    Brent: technical analysis on 06.01.2016

    On the daily chart, the price is trading just below the middle MA of Bollinger Bands and below its moving averages that are directed down. The RSI seems to be breaking its descending trendline suggesting the price could be entering the consolidation mode. The Composite is about to test its most recent support and has formed a divergence with the RSI. MA’s for both indicators represent a strength of the market.

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