Brent crude oil began last week with a large liquidity gap and declined into the order block zone in the 65–65.80 range. Price then attempted to fill the liquidity gap and fluctuated within a weak bearish structure. By the end of the week, price closed at the 67.5 level.
Daily Timeframe – Brent Crude Oil (UKOIL)
Brent crude oil began last week with a large liquidity gap and declined into the order block zone in the 65–65.80 range. Price then attempted to fill the liquidity gap and fluctuated within a weak bearish structure. By the end of the week, price closed at the 67.5 level.
Primary Scenario (Higher Probability)
Considering the collection of buy side liquidity and price rebalancing, if price once again comes under selling pressure, there is a possibility of a decline toward the 65 order block zone.
A break below this area could pave the way for price to move toward seller liquidity at the 63 level.
Key Price Levels:
Order Block Zone: 65 – 65.80
Seller Liquidity: 63
Alternative Scenario (Daily – Lower Probability)
If price encounters buying support, there is a possibility of a renewed rise toward the 70 level as a buy side zone.
Key Price Levels:
Buyer Liquidity: 72.4
1 Hour Timeframe – Brent Oil
1 Hour Timeframe – Brent Crude Oil (UKOIL)
Brent crude oil began last week with a large liquidity gap and declined into the order block zone in the 65–65.80 range. Price then attempted to fill the liquidity gap and fluctuated within a weak bearish structure. By the end of the week, price closed at the 67.5 level.
Primary Scenario (Higher Probability)
Considering the collection of buy side liquidity and price rebalancing, if price once again comes under selling pressure, there is a possibility of a decline toward the 65 order block zone.
A break below this area could pave the way for price to move toward seller liquidity at the 63 level.
Key Price Levels:
Order Block Zone: 65 – 65.80
Seller Liquidity: 63
Alternative Scenario (Lower Probability)
If price encounters buying support, there is a possibility of a renewed price increase toward the 70 level as a buy side zone.
Key Price Levels:
Buyer Liquidity: 70.4