Brent Crude Oil Technical Analysis – Daily Timeframe
Brent oil continues its downward trend while remaining below the 200-day moving average. A price drop to the 68.255 level is likely. If the price declines further, the 67.775-65.883 range presents valuable areas for initiating buy trades.
Technical Analysis of Brent Crude Oil – 4-Hour Timeframe
There is a possibility of price decline to the 68.975 level. If price support holds in this area, buy positions can be entered with confirmation. The first target for buy trades is at 73.208, and if this area is broken upward, the next target would be 78.439.
Technical Analysis of Brent Crude Oil – 15-Minute Timeframe
After breaking the range, the price continues its downward rally. The demand zone at 70.530 serves as the target for short trades. The zones of 70.974-70.530 are attractive for buy positions, with targets of 74.643 and 78.450.