Brent Crude Oil
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Pullback on Brent Crude Oil expected

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Lately, Brent Crude Oil was pretty strong and it looked like even the surge of omicron cases couldn't stop it.
Though BCOUSD is still in an uptrend, a midterm pullback could happen in the next days, since there are several signs of a reversal:
  • CCI and the oscillator of the MACD are making lower highs while the BCOUSD price is still making higher highs - this is a bearish divergence setup
  • Price is at the upper border of the bollinger bands
  • RSI is almost in the overbought area
  • Price went up to levels it hasn't been since years

Maybe it's time for a correction/ pullback to the monthly pivot point at around 75USD. The pivot point hasn't been touched yet - most of the past monthly pivots have been crossed by price.

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