Brent oil price has returned to the 200day moving average and a previous support zone.
Wedge breakdown TP1 is 81.60
MACD crossover signaled the loss of momentum + double top.
RSI is approaching oversold.
The **200-day moving average** is a technical indicator used to analyze long-term trends. It's a line that represents the average closing price for the last 200 days. If the price is consistently above the 200-day moving average, it's an upward trend. If it's below, it's a downtrend. The 200-day moving average can also be used to identify key levels in the market. When shorter-term moving averages cross the 200-day moving average, it can signal changes in the trend.
Wedge breakdown TP1 is 81.60
MACD crossover signaled the loss of momentum + double top.
RSI is approaching oversold.
The **200-day moving average** is a technical indicator used to analyze long-term trends. It's a line that represents the average closing price for the last 200 days. If the price is consistently above the 200-day moving average, it's an upward trend. If it's below, it's a downtrend. The 200-day moving average can also be used to identify key levels in the market. When shorter-term moving averages cross the 200-day moving average, it can signal changes in the trend.