In the daily chart, after completing a pullback to the downside, Brent is forming a new rising wave, which is heading to break the high at 71.07 and then reach the fractal high at 87.09. On the other hand, a rebound from the high will result in a new decline towards 23.6%, 38.2%, 50.0%, and 61.8% fibo at 58.00, 49.94, 43.46, and 36.93 respectively.
The H1 chart shows that a local divergence on MACD made the asset start a new correctional decline to reach 23.6% fibo at 67.58. Later, the market may continue falling towards 38.2% and 50.0% fibo at 66.22 and 65.12 respectively. The resistance is the high at 69.78, a breakout of which may lead to a further uptrend towards 76.0% fibo and the high at 69.97 and 71.07 respectively.
As we can see in the H4 chart, Dow Jones has broken the consolidation range to the upside and may continue growing within the post-correctional extension area between 138.2% and 161.8% fibo at 33941.0 and 36620.0 respectively. At the same time, there is a divergence on MACD, which is slowing the asset down and may lead to a reversal to the downside.
In the H1 chart, the asset has broken the previous high at 34272.0 and may continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 34492.0 and 34625.0 respectively. The support is the local low at 33697.0.