Brent Oil Breaks Resistance as Middle East Tensions Escalate
With the start of the new week, Brent Oil(
BRENT) has continued its bullish trend.
Given the escalating tensions in the Middle East, a region that is crucial for global oil production, oil prices have risen accordingly.
Brent Oil has successfully broken through the resistance zone($63.30-$62.00) and resistance lines and is currently completing a pullback to these levels.
I expect that, given the potential for renewed tensions in the Middle East in the coming days and hours, the bullish trend in oil will continue, supported by both fundamental and technical analysis, and it will reach the targets set in the chart.
First Target: $64.91
Second Target: $65.77
Stop Loss(SL): $62.07
Points may shift as the market evolves
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌U.S. Dollar/Brent Crude OIL Analysis (USDCAD), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
BRENT) has continued its bullish trend.Given the escalating tensions in the Middle East, a region that is crucial for global oil production, oil prices have risen accordingly.
Brent Oil has successfully broken through the resistance zone($63.30-$62.00) and resistance lines and is currently completing a pullback to these levels.
I expect that, given the potential for renewed tensions in the Middle East in the coming days and hours, the bullish trend in oil will continue, supported by both fundamental and technical analysis, and it will reach the targets set in the chart.
First Target: $64.91
Second Target: $65.77
Stop Loss(SL): $62.07
Points may shift as the market evolves
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌U.S. Dollar/Brent Crude OIL Analysis (USDCAD), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.