Dow Jones Analysis (Daily Time Frame)
Starting on Monday, November 25, Brent oil began its trading week with a decline, priced at $74.92 per barrel. By Friday, November 29, it ended the week at $72.42, experiencing a 3.43% drop.
Given the current trend, which is still in a range-bound phase, if a reversal occurs and the price breaks and stabilizes above the resistance level of 75.32, it could rise towards the 80.22 range.
However, if the decline continues, it will encounter support at 70.94. If this support level is broken and the price stabilizes below it, the next targets could be 69.12 and then 66.47.
Dow Jones Analysis (4-Hour Time Frame)
After breaking its dynamic low, the price is now approaching the static low at 72.01. If this area is broken, a move towards 70.87 is likely. However, if the price is rejected at this level and reverses upwards, the key resistance level at 73.68 will be the next obstacle. If this level is broken, the price could then target the 75.32 area.
Dow Jones Analysis (15-Minute Time Frame)
Given the loss of the static low at 72.4 and the creation of a lower low, the bearish scenario seems more likely. If this scenario plays out, the price could first reach the 72.01 area and then 70.87. If the bearish scenario does not materialize, the price could reclaim the 72.92 range with strength and then move towards 73.68.