Brent (a 4-hour chart)
Brent decreased on expectations of
After a brief consolidation during the Asian hours on Wednesday the price got under intense selling pressure and dropped to 46.50. The price broke the bullish 200-EMA and advanced away from it. The 100-EMA is still moving upwards, the 50-EMA is turning down. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.
MACD remained within the negative area which confirms the strength of sellers. RSI is approaching the oversold area.
The overall outlook remains bearish, for a decline towards the 45.30 support area.