The energy commodity finally passed the $90 resistance a level not seen in over 7 years, last time we saw the price of Brent Oil above $90 was back in October 2014. The pair continues the general uptrend and it looks like it could continue moving up in the short to mid-term.
The Bollinger bands are wide, which brings high volatility to the pair in the short term, the pair trades closer to the upper band but there is still a gap that would allow the price to continue moving up.
The relative strength index is at 73% it has entered an overbought status, which could bring down the price a notch or two in the short term, the price will likely find temporary pullbacks that will allow the pair to continue the uptrend in the long run.
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