Brent Crude Oil Technical Analysis Today
Summary
Brent Crude trades at 102.08 on the 1-hour chart, down 0.48% on the day after tagging a session high of 103.03. Price sits comfortably above the SMA20 at 101.51 and well above the SMA50 at 99.08, maintaining a medium-confidence bullish bias. The immediate battle is between the 101.51 support floor and the 103.03 resistance ceiling, with the broader structure still favouring upside.
Key levels — confluence zones
Zones where several technical levels cluster together (moving averages, SuperTrend, Fibonacci retracements, previous-day range, swing points). More converging levels mean a more relevant zone.
| Resistance | Levels | Strength |
|---|---|---|
| 103.03 | Previous-day high + Swing high | ●● |
| 104.13 | Elliott invalidation | ● |
| Support | Levels | Strength |
|---|---|---|
| 101.51 | SMA20 | ● |
| 100.56 | Fib 38.2% | ● |
| 100.20 | SuperTrend | ● |
Trend
All three major moving averages are stacked bullishly: SMA20 at 101.51, SMA50 at 99.08, and SMA200 at 99.09, with price trading above all three. SuperTrend remains in the up direction at 100.20, reinforcing the bullish trend structure. The 4-hour Ichimoku context places price inside the cloud, reflecting a transitional regime with a mild bull score of 2 versus bear score of 1.
| Indicator | Value | Reading |
|---|---|---|
| SMA 20 | 101.51 | price above |
| SMA 50 | 99.08 | price above |
| SMA 200 | 99.09 | price above |
| SuperTrend (10,3) | 100.20 | bullish |
| Ichimoku 4H | inside the cloud | 2/4 bullish · 1/4 bearish |
Momentum
RSI stands at 67.5, approaching overbought territory but not yet signalling exhaustion. MACD at 1.025 remains positive but has crossed below its signal line at 1.084, hinting at short-term momentum softening. Volume ratio of 0.15 indicates notably thin participation, urging caution about the conviction behind the current price level.
| Indicator | Value |
|---|---|
| RSI (14) | 67.5 |
| MACD / signal | 1.025 / 1.084 |
| Volume vs 40-bar average | ×0.15 |
Structure — swing, Fibonacci and Elliott Wave
The dominant swing ran from 96.56 to 103.03, a clean impulsive up-move. Fibonacci retracement levels sit at 100.56 (38.2%), 99.79 (50.0%), and 99.03 (61.8%), forming a layered support shelf below. Elliott wave analysis labels the current position as Wave A, the first corrective leg, with a 51% probability and invalidation above 104.13.
| Element | Level |
|---|---|
| Last swing | 96.56 → 103.03 (up) |
| Fibonacci 38.2% | 100.56 |
| Fibonacci 50.0% | 99.79 |
| Fibonacci 61.8% | 99.03 |
| Elliott Wave | Wave 🅐 — First Corrective Leg |
| Elliott invalidation | 104.13 |
Trade scenarios
Educational scenarios built from the confluence zones. Entry, stop and target are calculated by our engine; risk/reward is computed from the published numbers, and scenarios with an unfavourable ratio are flagged rather than presented as opportunities.
| Scenario | Entry | Stop | Target | R:R | Quality |
|---|---|---|---|---|---|
| Bullish aggressive (pullback) | 101.51 | 101.12 | 103.03 | 3.90:1 | good |
| Bearish aggressive (rejection) | 103.03 | 103.42 | 101.51 | 3.90:1 | good |
| Bullish conservative (breakout) | 103.23 | 102.64 | 104.13 | 1.53:1 | acceptable |
| Bearish conservative (breakdown) | 101.32 | 101.91 | 100.56 | 1.29:1 | unfavourable |
Outlook and confirmation
The bullish case activates on a sustained hold above 101.51 and a confirmed breakout through 103.03, opening the path toward Elliott targets at 105.85 and 106.86. The bearish case gains traction on a rejection at 103.03 or a break below 101.51. The long pullback to 101.51 and short rejection at 103.03 both offer the most favourable risk/reward at 3.9, making them the technically superior scenarios to monitor.
FAQ
What is the Brent Crude Oil trend today?
On the 1-hour chart our engine reads a bullish bias with medium confidence (score +4/7), based on moving averages, MACD, RSI, SuperTrend and the 4-hour Ichimoku context. Brent Crude Oil trades at 102.08.
What are the key support levels for Brent Crude Oil?
The nearest support zones are 101.51, 100.56, 100.20.
What are the key resistance levels for Brent Crude Oil?
The nearest resistance zones are 103.03, 104.13.
What would confirm a move in Brent Crude Oil?
An hourly close above 103.03 would confirm the bullish case. An hourly close below 101.51 would confirm the bearish case.
Live intraday analysis. For a 15-minute read updated every candle, open the XenosFinance dashboard and click any instrument. Daily briefs and Elliott Wave studies are published on our Telegram channel.