XBRUSD: Following the Trendline

XBRUSD, H2

In the H2 timeframe, XBRUSD navigates within a trendline, facing the 64.60 support level.

The RSI oscillator is crossing the mid-line upwards, while the 50-MA gives an additional layer of resistance for Brent, suggesting two potential scenarios:

• If the price bounces from the support trendline, it will start to rise to 66.10;

• A breaching below the 64.60 level will drop the price to 62.70 support.