Brent Crude Oil Technical Analysis – Daily Timeframe
Oil prices increased significantly last week. Brent crude prices reached $74.8 per barrel on Friday, up nearly 5% since the start of the week. However, the price is still within a range. For the upcoming week, two scenarios are likely:
- Main Scenario: If the price breaks and stabilizes above $76.235, it will rise towards the 80.905 level.
- Alternative Scenario: Sell positions can be considered from price corrections around 76.110, targeting 70.275 and 68.455.
Technical Analysis of Brent Crude Oil – 4-Hour Timeframe
- Main Scenario: Sell positions can be taken from price corrections at the upper boundary of the 76.069 range, targeting 72.409 and 70.560.
- Alternative Scenario: Buy positions can be considered from price corrections at the 73.647 zone, targeting 76.628.
Technical Analysis of Brent Crude Oil – 15-Minute Timeframe
Buy positions can be taken from price corrections at 73.94, targeting 74.885. If the price breaks the 72.995 level, a price decline towards 72.995 will follow.