Brent (a 4-hour chart)
Brent continued growing when some OPEC members suggested to limit the current oil production. The oversupply still weighs on the price.
The Brent holds a bullish tone. The instrument grew and formed a higher high. The session high was marked at 45.53. The resistance is at 45.30, the support comes in at 44.00 dollars per barrel.
The indicators recommend long positions. MACD grew which is a buy signal. RSI stayed close to the oversold area.
The instrument broke the bearish 100-EMA and left it behind. The price is heading to the 200-EMA in the 4 hours chart now. The 50-EMA is neutral, the 100 and 200 EMAs are pointing lower.
Brent futures may roll back towards the 44.00 level. The main point of focus today is the release of Crude Oil Stocks change from API. Its results will determine the Brent further direction.