Brent Crude Oil Technical Analysis – Daily Timeframe
On the daily timeframe, oil has shown upward momentum after reaching the weekly rejection block and reacting to war news, rising to $79. We expect a price correction to around $73.33 and then another increase to $81.117. The red areas marked are considered valuable for entering sell trades.
Technical Analysis of Brent Crude Oil – 4-Hour Timeframe
In the 4-hour timeframe, oil has shown upward momentum. If it breaks the trading knot at 77.210, we expect a price drop to the 74.457 area, and if the price breaks the 73.54 low, we foresee the filling of the LV area. In the green areas, one can enter buy trades with confirmation to aim for higher targets.
Technical Analysis of Brent Crude Oil – 15-Minute Timeframe
After hitting the supply zone at 79.000, the price has entered a correction phase. We expect the price to continue down to around 76.4. If it breaks and stabilizes below 73.252, a price drop to the 71.55 area can be anticipated. Buy trades were entered from the 75.61 and 76.246 areas with confirmation.