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Trading Ideas: BRENT OIL (XBRUSD)
After weeks of sharp declines and high volatility, Brent is starting to breathe, now trading in the $64–67 per barrel zone. The move reflects a recovery supported by extreme weather in the US and localized supply risks, but still within a broader context of oversupply.
The market remains highly sensitive to global demand signals and decisions from major producers (OPEC+, Russia, the US), while traders continue to weigh elevated inventories against the geopolitical risk premium (Iran, Black Sea, weather).
Even with the recent rally, Brent is still well below the major peaks of recent years. Some banks and research houses continue to see room for a tactical recovery through 2026, especially if production cuts are maintained and there are no fresh negative surprises in global economic activity.
TECHNICAL LEVELS:
Brent’s chart shows a recovery phase after bouncing from key support levels, with price trying to build a higher low and gain traction above the $66 area, which previously acted as a selling pressure zone.
On H4/H1, momentum points to consolidation above support, with short-term highs and lows suggesting a tug of war between buyers betting on continuation of the corrective rebound and sellers still confident in the abundant supply narrative.
The more attractive approach at this stage is to look for buy opportunities on pullbacks near support zones, targeting potential extensions toward resistances around $69, always with tight risk management given how sensitive oil is to headlines.
Good trades to all! 🎯Trade with Headway
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