Brent (a 4-hour chart)
Crude oil prices are under pressure again as Libyan and Nigerian exports are back in the game which reinforced supply glut concerns.
Brent is now decisively trading below the 46.50 mark. Bears pushed the price lower and stopped a few pips above 45.30. The 50 and 100 EMAs kept heading lower, the 200-EMA preserved a bullish slope. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.
MACD was in the negative area. MACD decreased which confirms the strength of sellers. RSI is approaching oversold area
The loss of the 45.30 level will point to a further period of downside to come. The level 44.30 will be the next sellers' target. If Brent does a bullish rebound the oil prices will grow towards 46.50 dollars per barrel.