Brent Crude Oil, Technical Analysis – H4

The Brent oil market has entered a flat consolidation phase, trading above the $72.00 level without clear bullish reversal signals. While an unfilled gap remains in the $88.00 area, it does not appear to be an immediate target. That said, given the ongoing tensions in the Strait of Hormuz, any scenario remains possible. Technically, the more probable near-term development is a retest and potential breach of recent lows.

Key Levels:

□ $72.00 (key support)

□ $76.00 (range resistance)

Primary Scenario:

Continuation of consolidation within the horizontal range between $72.00 and $76.00.

Alternative Scenario:

Breakdown below $72.00.

Analyst Commentary:

The market remains highly sensitive and vulnerable to fundamental macroeconomic drivers. Stay alert and keep your finger on the pulse.