Brent Oil Analysis – Inverted Head and Shoulders Pattern
The chart shows a Head and Shoulders pattern, which is often a sign that the price may change direction.
The current price is around 67.35, and if the pattern continues, oil could rise towards the first target at 68.90, and possibly reach the second target at 71.0.
If Brent Oil stays above the neckline and momentum increases, we could see a move towards the 71 area.
However, keep an eye on volume and any macro headlines that could change sentiment.
The peace talks for Ukraine could significantly alter the direction of the price as they progress. Until then, oil remains bullish.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
The chart shows a Head and Shoulders pattern, which is often a sign that the price may change direction.
The current price is around 67.35, and if the pattern continues, oil could rise towards the first target at 68.90, and possibly reach the second target at 71.0.
If Brent Oil stays above the neckline and momentum increases, we could see a move towards the 71 area.
However, keep an eye on volume and any macro headlines that could change sentiment.
The peace talks for Ukraine could significantly alter the direction of the price as they progress. Until then, oil remains bullish.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.