Technical Analysis of Brent Oil (Daily Timeframe)
In the past week, Brent crude oil continued its correction and moved towards the key broken zone around $76.594.
- Main Scenario: Given the critical zone where oil is currently positioned, along with the formation of two candlesticks in the last two trading days, a reversal is expected from this area, leading to a movement towards the last peak at $82.817.
- Alternative Scenario: If the above scenario does not materialize and Brent crude breaks and stabilizes below $76.594, it may decline further towards $72.112.
Technical Analysis of Brent Oil (4H Timeframe)
- Main Scenario: If oil moves upwards and breaks the $77.996 resistance while stabilizing above it, the next target would be $79.90.
- Alternative Scenario: If oil continues its decline and stabilizes below $75.898, it may further drop towards $74.188.
Technical Analysis of Brent Oil (15-Minute Timeframe)
- Main Scenario: If Brent crude breaks the $77.335 resistance and stabilizes above it, the next target will be $77.996.
- Alternative Scenario: If the above scenario does not occur, oil may move downward, and after breaking the $75.898 support, it could head towards $74.188.