Brent Crude Oil Technical Analysis – Daily Timeframe
Main Scenario: Consider short positions from corrections below the 76.20 level, targeting 68.65 – 64.49.
Alternative Scenario: A breakout and stabilization above the 76.20 level will allow prices to continue rising towards the 79.75 – 83.20 levels.
Technical Analysis of Brent Crude Oil – 4-Hour Timeframe
Main Scenario: We anticipate a price decline towards the 69.87 range. If the price fails to stabilize below this level, an increase to the 74.18 zone is likely.
Alternative Scenario: If the price does not stabilize below the 70.23 level, the upward movement may extend to the 76.20 zone.
Technical Analysis of Brent Crude Oil – 15-Minute Timeframe
If the price stabilizes above the 71.15 level, the upward movement may continue towards the 72.42 range. If the price fails to stabilize above the 71.15 level, a decline towards the 70.00 zone is anticipated.