Brent Crude Oil Technical Analysis – Daily Timeframe
Daily Timeframe Analysis
Brent crude oil continues to oscillate within its range, as it has in recent weeks, and it remains to be seen which direction it will ultimately break.
- Primary Scenario: If Brent surpasses the resistance at $74.739, it could move toward the next target at $76.596.
- Alternative Scenario: If the primary scenario does not materialize and Brent breaks below the support at $71.129, it is expected to drop further to the next support at $69.079.
Technical Analysis of Brent Crude Oil – 4-Hour Timeframe
- Primary Scenario: A breakout above $74.739 will likely lead Brent toward its next target at $76.596.
- Alternative Scenario: If Brent fails to break its resistance and declines to $72.106, breaking below this level could push it further down to $71.129.
Technical Analysis of Brent Crude Oil – 15-Minute Timeframe
- Primary Scenario: If Brent rebounds from its current level, it will first target $74.310 and then aim for $74.739.
- Alternative Scenario: If the primary scenario does not occur and Brent breaks below the support at $73.688, the next targets will be $73.226 and then $72.106.