Brent Crude Oil Technical Analysis – Daily Timeframe
resistance level, reaching the $76.596 range.
- Main Scenario: Given the breakout above the significant $76.596 area, if Brent consolidates above this level in the coming week, it is expected to target the $80.171 range.
Alternative Scenario: If Brent fails to hold above the $76.596 area, it may retreat below this level, potentially declining to the $74.727 range
Technical Analysis of Brent Crude Oil – 4-Hour Timeframe
Main Scenario: Considering the strong 4-hour candle close above the $76.596 area, there is a high probability that Brent Crude Oil will move towards the $79.313 range.
Alternative Scenario: In the event of a downward reversal and a break below the $75.861 support, the first target would be the $74.727 range
Technical Analysis of Brent Crude Oil – 15-Minute Timeframe
Main Scenario: If Brent breaks and consolidates above the $77.056 resistance, the next target would be the $79.313 range.
Alternative Scenario: If the above scenario does not materialize and Brent breaks and consolidates below the $76.760 support area, the subsequent targets would be $76.861 and then the $75.861 range