By analyzing the #BrentOil chart on the weekly timeframe, we can see that price continued to follow the expected bullish scenario and successfully reached the projected targets, rallying as high as $87.5.
Currently, Brent Oil is trading around $85. With tensions around the Strait of Hormuz increasing, the market is adding a larger geopolitical risk premium to Oil prices. Any threat to shipping routes, regional energy infrastructure, or crude exports could quickly create fears of supply disruption and push prices even higher.
The nearest demand zones are located around $82 – $84, followed by $78 – $80 and deeper support around $74 – $76. On the upside, the closest supply zone is around $87.5 – $90, followed by stronger resistance between $92 – $95. If buyers continue defending the current structure, the next upside targets to monitor are $88, followed by $90, $92, and potentially $95.
This weekend’s developments will be very important. Further escalation could support another bullish leg, while any serious ceasefire or de-escalation headline could trigger a sharp corrective move.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Currently, Brent Oil is trading around $85. With tensions around the Strait of Hormuz increasing, the market is adding a larger geopolitical risk premium to Oil prices. Any threat to shipping routes, regional energy infrastructure, or crude exports could quickly create fears of supply disruption and push prices even higher.
The nearest demand zones are located around $82 – $84, followed by $78 – $80 and deeper support around $74 – $76. On the upside, the closest supply zone is around $87.5 – $90, followed by stronger resistance between $92 – $95. If buyers continue defending the current structure, the next upside targets to monitor are $88, followed by $90, $92, and potentially $95.
This weekend’s developments will be very important. Further escalation could support another bullish leg, while any serious ceasefire or de-escalation headline could trigger a sharp corrective move.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
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📘 Wanna Learn ICT & SMC? Get the Full Book Here : bit.ly/ICT-BOOK
⚜️ Free Telegram Channel : telegram.me/PriceAction_ICT
⚜️ JOIN THE VIP 👉 t.me/ArmanShabanTrading
🚀 MondFX — our trusted Broker : bit.ly/MondFx
⚜️ Free Telegram Channel : telegram.me/PriceAction_ICT
⚜️ JOIN THE VIP 👉 t.me/ArmanShabanTrading
🚀 MondFX — our trusted Broker : bit.ly/MondFx
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.