Brent Crude Oil, Technical Analysis – H1

Brent crude continues to trade in a highly erratic manner, reacting to conflicting and rapidly shifting reports from the Iran–US confrontation while successively opening one price gap after another. The market’s consistent tendency to fill these gaps remains intact; therefore, a near-term closure of the downside gap (around $83.00) and the upside gap ($90.50) can be expected. Subsequent price action is likely to remain concentrated within this $83.00–$90.50 corridor.

Key Levels;

⬜ 1. $83.00 — downside gap fill / support

⬜ 2. $90.50 — upside gap fill / resistance

Primary Scenario:

Decline toward $83.00 followed by a sharp upward rebound.

Alternative Scenario:

Sideways consolidation within the $84.00–$86.00 range.

Analyst Commentary:

Trade only from key levels. Intra-range trading is likely to remain unpredictable.